Revenue Update on Proofpoint Inc(NASDAQ:PFPT)

Proofpoint Inc(NASDAQ:PFPT) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Jul 21, 2016. Company reported revenue of $89.90M. Analysts estimated a revenue of $84.22M. Earnings per share were $0.06. Analysts had estimated an EPS of $-0.07.

In a different note, Evercore ISI Group said it Initiates Coverage on Proofpoint Inc, according to a research note issued on Jun 29, 2016. The shares have been rated ‘Buy’ by the firm. On Apr 25, 2016, Imperial Capital said it Maintains its rating on Proofpoint Inc. In the research note, the firm Raises the price-target to $68.00 per share. The shares have been rated ‘Outperform’ by the firm.

Proofpoint Inc (PFPT) made into the market gainers list on Wednesdays trading session with the shares advancing 2.97% or 1.97 points. Due to strong positive momentum, the stock ended at $68.24, which is also near the day’s high of $68.61. The stock began the session at $66.77 and the volume stood at 6,45,612 shares. The 52-week high of the shares is $75.46 and the 52 week low is $35.555. The company has a current market capitalization of $2,832 M and it has 4,14,94,727 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Jul 19, 2016, Tracey Newell (EVP, Worldwide Sales) sold 20,000 shares at $66.93 per share price.Also, On Jul 14, 2016, Gary Steele (Chief Executive Officer) sold 20,000 shares at $67.77 per share price.On Jul 13, 2016, Robert Darren Lee (SVP, GM Archiving & Governance) sold 2,000 shares at $68.99 per share price, according to the Form-4 filing with the securities and exchange commission.

Proofpoint Inc. is a security-as-a-service provider that provides data protection solutions for large and mid-sized organizations around the world. The Company’s security-as-a-service platform consists of a suite of on-demand data protection solutions including threat protection incident response regulatory compliance archiving governance eDiscovery and secure communication. The Company provides a multi-tiered security-as-a-service platform comprising solutions platform technologies and infrastructure. Its security-as-a-service platform offers a bundle of five solutions: Proofpoint Enterprise Protection Proofpoint Enterprise Privacy Proofpoint Enterprise Archive & Governance Proofpoint Nexgate Social Media Security & Compliance and Proofpoint Essentials. Its platform’s services include content inspection reputation encryption and key management notification and workflow and analytics and search.

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