Proofpoint Inc (PFPT) released its first quarter results on Tuesday, April 27, 2021. The company reported net earnings of -$0.79 per share for the first quarter ending March 31, 2021. Earnings for this past quarter were up 39 percent compared to the same period a year ago.
Proofpoint, Inc. was incorporated in 2002 and is headquartered in Sunnyvale, California. Proofpoint, Inc. operates as a security-as-a-service provider that enables large and mid-sized organizations to defend, protect, archive, and govern their sensitive data worldwide. It offers protection against advanced and targeted threats, including malicious attachments, polymorphic threats, zero-day exploits, user-transparent drive-by downloads, malicious web links, hybrid threats, malware free attacks, and other penetration tactics.
Proofpoint's revenue increased 16 percent over the past trailing twelve-month period versus the previous twelve-month period. Gross margins increased to 84.32% for the first quarter compared to the same period in the previous year, and operating margins increased to 14.61% over the same period. Net earnings for past trailing twelve months were -$134.89 million, up 23% from the prior year.
Moving on to the balance sheet, Proofpoint’s cash levels dropped 5% for the third quarter over the same period last year. Overall liquidity of the balance sheet, as measured by the current ratio, decreased 16.82% this past year. The current ratio for Proofpoint now stands at 1.29. The company increased shares outstanding by 0.25%.
Shares of PFPT are currently trading around $172.24. In terms of valuation, the stock is trading at a price to book ratio of 33.82.
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This article was written by Value Investing News (https://www.valueinvestingnews.com) on Wednesday, April 28, 2021.