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Proofpoint soars on Q1 beat, guidance; Palo Alto/FireEye jump

  • Cloud data protection software/service provider Proofpoint (PFPT +16.5%) expects Q1 revenue of $43M-$44M and EPS of -$0.11 to -$0.13, largely above a consensus of $42M and -$0.13. Full-year guidance is for revenue of $178M-$180M and EPS of -$0.41 to -$0.46, above a consensus of $175.9M and -$0.49.
  • Moreover, full-year billings are expected to be in a range of $207M-$209M, well above revenue and also $4M better than prior guidance. Q1 billings rose 33% Y/Y to $46.6M (compares with revenue of $42.7M, +39%).
  • Palo Alto Networks (PANW +7.4%) and FireEye (FEYE +7.9%), each of whom offer subcription-based cloud services to complement their security hardware/software, are following Proofpoint higher, as is Barracuda Networks (CUDA +6.3%). Imperva (IMPV +3.5%), whose April 9 warning triggered a massive rout in security stocks, is getting a lift ahead of today's Q1 report.
  • On its CC (transcript), Proofpoint noted its Targeted Attack Protection business posted 100%+ Y/Y sales growth, thanks in part to a deal with a major enterprise that involves 300K+ users. Recently-acquired Sendmail provided $2.4M in subscription revenue.
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