Despite reporting another strong quarter, Proofpoint (PFPT) guided to softer-than-expected Q2 billings growth, sending the shares down over 5% the following day. However, for the full-year, management raised their guidance for both revenue and billings. For the quarter, revenue and billings both came in ahead of consensus expectations and EPS was in line.
The stock was very weak on Friday, ending the day down over 5%. However, I believe this is a bit of an overreaction as management remains very confident in their full-year guidance. In fact, management raised guidance for the full-year,