The brokerages expect Pure Storage, Inc. (NYSE: PSTG) to post earnings per share of $0.27 for the current fiscal quarter, Zacks reports. Nine analysts have released earnings estimates for Pure Storage. The highest EPS estimate is $0.31 and the lowest is $0.23. Pure Storage reported earnings per share of $0.13 in the same quarter last year, suggesting a positive year-over-year growth rate of 107.7%. The company is expected to announce its next quarterly results after the market closes on Wednesday, March 2.
According to Zacks, analysts expect Pure Storage to report annual earnings of $0.63 per share for the current fiscal year, with EPS estimates ranging from $0.55 to $0.68. For next year, analysts expect the company to post earnings of $0.70 per share, with EPS estimates ranging from $0.58 to $0.77. Zacks Investment Research earnings per share averages are an average based on a survey of research analysts who provide coverage for Pure Storage.
Pure Storage Inc (NYSE:PSTG) last reported earnings on Tuesday, November 23. The technology company reported earnings per share of $0.22 for the quarter, beating Thomson Reuters consensus estimate of $0.12 by $0.10. The company posted revenue of $562.74 million in the quarter, compared to $530.66 million expected by analysts. Pure Storage had a negative net margin of 10.66% and a negative return on equity of 15.40%. Pure Storage’s quarterly revenue increased 37.1% year over year. During the same period last year, the company posted ($0.22) earnings per share.
PSTG has been the subject of a number of recent research reports. Northland Securities raised its price target on Pure Storage shares from $36.00 to $40.00 and gave the stock an “outperform” rating in a Wednesday, November 24 research note. Deutsche Bank Aktiengesellschaft raised its price target on Pure Storage shares from $32.00 to $38.00 and gave the stock a “buy” rating in a Wednesday, November 24, report. Lake Street Capital raised its price target on Pure Storage shares from $31.00 to $34.00 and gave the stock a “buy” rating in a Wednesday, Nov. 24, report. Susquehanna Bancshares raised its price target on Pure Storage shares from $33.00 to $36.00 and gave the stock a “positive” rating in a Wednesday, Dec. 1 report. Finally, Morgan Stanley raised its price target on shares of Pure Storage from $27.00 to $33.00 and gave the stock an “equal weight” rating in a Wednesday, Nov. 24, report. Three equity research analysts gave the stock a hold rating, fourteen gave the company a buy rating and one gave the company a strong buy rating. According to MarketBeat, Pure Storage currently has a consensus rating of “Buy” and an average target price of $33.39.
In other news, Director Tomb of Gregory sold 29,311 shares of Pure Storage in a trade that took place on Thursday, December 2. The shares were sold at an average price of $31.45, for a total value of $921,830.95. The sale was disclosed in a filing with the SEC, accessible via this hyperlink. Also, CFO P. Kevan Krysler sold 26,444 shares of the company in a transaction that took place on Thursday, December 9. The stock was sold at an average price of $32.80, for a total transaction of $867,363.20. Disclosure of this sale can be found here. 6.80% of the shares are held by insiders.
Several hedge funds have recently increased or reduced their stake in PSTG. Catalyst Capital Advisors LLC bought a new stake in Pure Storage stock in Q4 worth $27,000. Northwest Investment Counselors LLC purchased a new stake in Pure Storage stock in Q4 for $33,000. UMB Bank NA MO acquired a new position in shares of Pure Storage in Q4 worth $33,000. Berman Capital Advisors LLC increased its stake in Pure Storage shares by 91.0% in Q3. Berman Capital Advisors LLC now owns 1,662 shares of the technology company valued at $41,000 after purchasing an additional 792 shares during the period. Finally, CWM LLC acquired a new position in shares of Pure Storage in Q4 worth $45,000. 80.54% of the shares are currently held by institutional investors and hedge funds.
Shares of NYSE: PSTG opened at $26.62 on Friday. Pure Storage has a 52-week minimum of $16.79 and a 52-week maximum of $35.09. The stock has a market capitalization of $7.72 billion, a P/E ratio of -35.49 and a beta of 1.35. The company has a fifty-day simple moving average of $29.54 and a two-hundred-day simple moving average of $26.86. The company has a quick ratio of 2.41, a current ratio of 2.47 and a debt ratio of 1.07.
Pure Storage Company Profile
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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