Analysts predict that Pure Storage Inc (NYSE:PSTG) will announce $0.18 earnings per share (EPS) for the current quarter, Zacks reports. Nine analysts have made estimates for Pure Storage’s earnings. The lowest EPS estimate is $0.16 and the highest is $0.21. Pure Storage posted earnings per share of $0.13 in the same quarter last year, which indicates a positive year over year growth rate of 38.5%. The company is expected to announce its next quarterly earnings report after the market closes on Thursday, February 28th.
On average, analysts expect that Pure Storage will report full year earnings of $0.26 per share for the current financial year, with EPS estimates ranging from $0.23 to $0.30. For the next financial year, analysts forecast that the firm will post earnings of $0.42 per share, with EPS estimates ranging from $0.31 to $0.63. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that cover Pure Storage.
Get Pure Storage alerts:Pure Storage (NYSE:PSTG) last issued its quarterly earnings results on Monday, November 19th. The technology company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.03. Pure Storage had a negative net margin of 12.89% and a negative return on equity of 23.88%. The business had revenue of $372.80 million for the quarter, compared to analysts’ expectations of $367.37 million. During the same quarter last year, the company posted ($0.01) earnings per share. The company’s quarterly revenue was up 34.3% compared to the same quarter last year.
Several equities analysts have recently commented on the stock. Raymond James cut shares of Pure Storage from an “outperform” rating to a “market perform” rating and set a $18.81 price target on the stock. in a research report on Wednesday. Maxim Group reaffirmed a “hold” rating and set a $21.00 price target on shares of Pure Storage in a research report on Tuesday, November 20th. Wolfe Research assumed coverage on shares of Pure Storage in a research report on Tuesday, December 11th. They set an “outperform” rating and a $25.00 price target on the stock. ValuEngine cut shares of Pure Storage from a “buy” rating to a “hold” rating in a research report on Saturday, October 27th. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and set a $25.00 price target on shares of Pure Storage in a research report on Tuesday, November 20th. They noted that the move was a valuation call. Nine equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $25.64.
In related news, CFO Timothy Riitters sold 30,000 shares of the stock in a transaction dated Wednesday, December 19th. The shares were sold at an average price of $16.61, for a total transaction of $498,300.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 15.30% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the business. Oppenheimer Asset Management Inc. acquired a new stake in shares of Pure Storage in the fourth quarter valued at approximately $27,000. Sonora Investment Management LLC increased its stake in shares of Pure Storage by 80.2% during the fourth quarter. Sonora Investment Management LLC now owns 1,910 shares of the technology company’s stock valued at $31,000 after acquiring an additional 850 shares during the period. Meeder Asset Management Inc. acquired a new position in shares of Pure Storage during the fourth quarter valued at approximately $42,000. Penserra Capital Management LLC increased its stake in shares of Pure Storage by 458.9% during the fourth quarter. Penserra Capital Management LLC now owns 5,008 shares of the technology company’s stock valued at $80,000 after acquiring an additional 4,112 shares during the period. Finally, DekaBank Deutsche Girozentrale increased its stake in shares of Pure Storage by 169.1% during the third quarter. DekaBank Deutsche Girozentrale now owns 4,090 shares of the technology company’s stock valued at $110,000 after acquiring an additional 2,570 shares during the period. Institutional investors own 71.95% of the company’s stock.
Shares of PSTG stock traded up $0.28 during trading hours on Thursday, hitting $19.56. 3,550,917 shares of the company were exchanged, compared to its average volume of 2,525,153. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.52 and a current ratio of 3.64. Pure Storage has a one year low of $13.99 and a one year high of $29.14. The stock has a market capitalization of $4.66 billion, a price-to-earnings ratio of -23.29 and a beta of 1.66.
Pure Storage Company Profile
Pure Storage, Inc engages in building a data platform that enables businesses to enhance performance and reduce complexity and costs worldwide. The company delivers its data platform through Purity Operating Environment, an optimized software for solid-state memory that offers enterprise-class storage and protocol services; FlashArray and FlashBlade optimized hardware products for solid-state memory to enhance the performance and density of flash, optimize its advanced software services, and reduce solution cost for customers; Pure1, a cloud-based management and support software; and FlashStack, a converged infrastructure solution.
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