Proofpoint (PFPT) Soaring On Impressive Q4 Results & Buyout
Zacks Investment Research | Mar 06, 2018 12:48AM ET
Shares of Proofpoint Inc. (NASDAQ:PFPT) rallied to a new 52-week high of $116.04, eventually closing at $115.51 on Mar 5.
It has been four weeks since Proofpoint reported fourth-quarter 2017 results. The stock has been on the rise following the release. To some investors, choosing the stock may appear to be a no-brainer because right after an earnings release, a company is almost always on investors’ radar.
While better-than-expected results make the stock a good pick, lower-than-expected results dampen investors’ spirit. So, the period following earnings releases is often marked by high market activity. Since its last quarterly results announcement on Feb 6, Proofpoint has gained 12.6% so far.
The company delivered non-GAAP earnings of 29 cents for the recently reported quarter, recording an impressive year-over-year jump of 61%. Earnings also came in ahead of the Zacks Consensus Estimate of 21 cents as well as management’s guidance of 19-21 cents per share.
The company reported total revenues of $145.4 million, up 36.1% year over year, primarily driven by customer additions, improved add-on-sales and strong renewal rate. The company’s revenues also surpassed the Zacks Consensus Estimate of $140 million and also exceeded the guidance range of $138-$140 million.
Proofpoint, Inc. Revenue (TTM)
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