Pure Storage, Inc. (NYSE:PSTG) Expected to Announce Earnings of $0.04 Per Share

Wall Street analysts predict that Pure Storage, Inc. (NYSE:PSTGGet Rating) will post earnings of $0.04 per share for the current fiscal quarter, Zacks reports. Nine analysts have provided estimates for Pure Storage’s earnings. The highest EPS estimate is $0.06 and the lowest is $0.02. The firm is scheduled to report its next quarterly earnings results after the market closes on Monday, January 1st.

On average, analysts expect that Pure Storage will report full-year earnings of $0.87 per share for the current fiscal year, with EPS estimates ranging from $0.75 to $0.98. For the next financial year, analysts forecast that the company will post earnings of $1.06 per share, with EPS estimates ranging from $0.88 to $1.25. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that cover Pure Storage.

Pure Storage (NYSE:PSTGGet Rating) last issued its quarterly earnings results on Wednesday, March 2nd. The technology company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.15. Pure Storage had a negative net margin of 6.57% and a negative return on equity of 4.90%. The business had revenue of $708.57 million for the quarter, compared to analysts’ expectations of $630.93 million. During the same period last year, the business earned ($0.09) earnings per share. The business’s quarterly revenue was up 40.9% on a year-over-year basis.

A number of research analysts have commented on PSTG shares. Lake Street Capital increased their price target on shares of Pure Storage from $34.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, March 3rd. Wedbush raised their target price on shares of Pure Storage from $33.00 to $34.00 and gave the stock a “neutral” rating in a report on Thursday, March 3rd. JPMorgan Chase & Co. raised their target price on shares of Pure Storage from $36.00 to $40.00 and gave the stock an “overweight” rating in a report on Thursday, March 3rd. The Goldman Sachs Group raised their target price on shares of Pure Storage from $34.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, March 3rd. Finally, Susquehanna restated a “buy” rating and issued a $40.00 target price on shares of Pure Storage in a report on Thursday, March 3rd. Six analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $36.40.

In other Pure Storage news, Director Andrew William Fraser Brown sold 11,564 shares of the company’s stock in a transaction dated Monday, March 21st. The shares were sold at an average price of $35.20, for a total value of $407,052.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Ajay Singh sold 36,338 shares of the stock in a transaction that occurred on Wednesday, March 23rd. The shares were sold at an average price of $34.39, for a total transaction of $1,249,663.82. The disclosure for this sale can be found here. 6.80% of the stock is currently owned by corporate insiders.

Several large investors have recently bought and sold shares of PSTG. Catalyst Capital Advisors LLC purchased a new stake in shares of Pure Storage during the fourth quarter valued at approximately $27,000. Elequin Capital LP purchased a new stake in Pure Storage in the first quarter worth approximately $29,000. IndexIQ Advisors LLC purchased a new stake in Pure Storage in the first quarter worth approximately $32,000. Northwest Investment Counselors LLC purchased a new stake in Pure Storage in the fourth quarter worth approximately $33,000. Finally, UMB Bank N A MO purchased a new stake in Pure Storage in the fourth quarter worth approximately $33,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

NYSE PSTG traded up $1.31 on Friday, reaching $24.38. 168,741 shares of the company’s stock traded hands, compared to its average volume of 3,815,426. Pure Storage has a 12 month low of $17.40 and a 12 month high of $36.71. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.30 and a quick ratio of 2.26. The stock has a 50-day simple moving average of $30.04 and a 200 day simple moving average of $29.52. The stock has a market cap of $7.28 billion, a PE ratio of -47.63 and a beta of 1.51.

Pure Storage Company Profile (Get Rating)

Pure Storage, Inc provides data storage technologies, products, and services in the United States and internationally. The company's Purity software is shared across its products and provides enterprise-class data services, such as data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object.

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