Wall Street brokers predict that Pure Storage, Inc. (NYSE: PSTG – Get a rating) will post earnings per share of $0.04 for the current fiscal quarter, according to Zacks. Nine analysts provided earnings estimates for Pure Storage, with the lowest EPS estimate being $0.02 and the highest estimate being $0.06. The company is expected to announce its next quarterly earnings report on Monday, January 1.
According to Zacks, analysts expect Pure Storage to report annual earnings of $0.86 per share for the current fiscal year, with EPS estimates ranging from $0.72 to $0.98. For the next fiscal year, analysts expect the company to report earnings of $1.06 per share, with EPS estimates ranging from $0.88 to $1.25. Zacks Investment Research’s earnings per share averages are an average average based on a survey of sell-side analysts who cover Pure Storage.
Pure storage (NYSE: PSTG – Get a rating) last reported results on Wednesday, March 2. The technology company reported EPS of $0.36 for the quarter, beating analyst consensus estimates of $0.26 by $0.10. Pure Storage had a negative net margin of 6.57% and a negative return on equity of 4.90%. The company posted revenue of $708.57 million in the quarter, versus analyst estimates of $630.93 million. In the same quarter of the previous year, the company achieved EPS of ($0.09). The company’s quarterly revenue increased by 40.9% compared to the same quarter last year.
Several equity analysts have recently released reports on PSTG shares. UBS Group began covering Pure Storage shares in a report on Tuesday, April 5. They issued a “neutral” rating and a price target of $36.00 for the company. Wells Fargo & Company raised its price target on Pure Storage shares from $37.00 to $40.00 and gave the company an “overweight” rating in a Thursday, March 3 report. Deutsche Bank Aktiengesellschaft raised its price target on Pure Storage shares from $38.00 to $40.00 and gave the company a “buy” rating in a Thursday, March 3, report. Wedbush raised its price target on Pure Storage shares from $33.00 to $34.00 and gave the company a “neutral” rating in a Thursday, March 3 report. Finally, Lake Street Capital raised its price target on Pure Storage shares from $34.00 to $36.00 and gave the stock a “buy” rating in a Thursday, March 3 research note. Five research analysts gave the stock a hold rating, sixteen issued a buy rating and one gave the company’s stock a strong buy rating. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $36.30.
Shares of PSTG Stock opened at $30.73 on Friday. Pure Storage has a 12 month minimum of $16.79 and a 12 month maximum of $36.71. The company has a market capitalization of $8.91 billion, a price-earnings ratio of -60.25 and a beta of 1.46. The company has a quick ratio of 2.26, a current ratio of 2.30 and a debt ratio of 1.04. The company has a fifty-day moving average of $30.62 and a 200-day moving average of $29.29.
Separately, insider Ajay Singh sold 36,338 shares of the company in a trade dated Wednesday, March 23. The shares were sold at an average price of $34.39, for a total value of $1,249,663.82. The sale was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC website. Additionally, director Andrew William Fraser Brown sold 11,564 shares of the company in a trade dated Monday, March 21. The shares were sold at an average price of $35.20, for a total transaction of $407,052.80. Disclosure of this sale can be found here. Insiders hold 6.80% of the shares of the company.
A number of large investors have recently changed their stock holdings. First Republic Investment Management Inc. increased its stake in Pure Storage by 1.4% in Q3. First Republic Investment Management Inc. now owns 30,676 shares of the technology company valued at $772,000 after buying 412 additional shares in the last quarter. Comerica Bank increased its position in Pure Storage by 1.3% in the fourth quarter. Comerica Bank now owns 38,100 shares of the technology company worth $949,000 after acquiring 500 more shares in the last quarter. Xponance Inc. increased its position in Pure Storage by 1.8% during the fourth quarter. Xponance Inc. now owns 28,604 shares of the technology company worth $931,000 after acquiring 505 additional shares in the last quarter. CIBC Asset Management Inc. raised its position in Pure Storage by 4.5% during the fourth quarter. CIBC Asset Management Inc. now owns 11,894 shares of the technology company worth $387,000 after acquiring 508 more shares in the last quarter. Finally, Oppenheimer & Co. Inc. increased its position in Pure Storage by 4.0% during the fourth quarter. Oppenheimer & Co. Inc. now owns 14,815 shares of the technology company worth $482,000 after acquiring 565 additional shares in the last quarter. Institutional investors and hedge funds hold 82.38% of the company’s shares.
Pure Storage Company Profile (Get a rating)
Pure Storage, Inc is committed to providing flash storage solutions. Its technology replaces storage systems designed for mechanical drives with all-flash systems optimized end-to-end for solid-state memory. The company was founded by John Hayes and John Colgrove in October 2009 and is based in Mountain View, California.
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