Pure Storage Inc (PSTG) Expected to Post Quarterly Sales of $251.62 Million

Wall Street analysts forecast that Pure Storage Inc (NYSE:PSTG) will report $251.62 million in sales for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Pure Storage’s earnings, with the highest sales estimate coming in at $254.10 million and the lowest estimate coming in at $250.00 million. Pure Storage posted sales of $182.63 million during the same quarter last year, which would indicate a positive year over year growth rate of 37.8%. The business is scheduled to announce its next quarterly earnings results on Wednesday, May 23rd.

On average, analysts expect that Pure Storage will report full year sales of $251.62 million for the current fiscal year, with estimates ranging from $1.33 billion to $1.37 billion. For the next financial year, analysts expect that the business will post sales of $1.68 billion per share, with estimates ranging from $1.63 billion to $1.70 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Pure Storage.

How to Become a New Pot Stock Millionaire

Pure Storage (NYSE:PSTG) last released its earnings results on Thursday, March 1st. The technology company reported $0.13 EPS for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.06. The company had revenue of $338.30 million during the quarter, compared to analysts’ expectations of $331.80 million. Pure Storage had a negative return on equity of 38.70% and a negative net margin of 17.36%. The firm’s revenue for the quarter was up 48.4% compared to the same quarter last year. During the same quarter last year, the business posted ($0.02) EPS.

A number of research analysts have recently commented on PSTG shares. Robert W. Baird restated a “neutral” rating and issued a $22.00 target price (up previously from $20.00) on shares of Pure Storage in a research note on Friday, March 2nd. Barclays upgraded Pure Storage from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $19.00 to $22.00 in a research note on Wednesday, January 17th. Oppenheimer restated a “buy” rating and issued a $21.00 target price on shares of Pure Storage in a research note on Wednesday, November 29th. TheStreet upgraded Pure Storage from a “d” rating to a “c-” rating in a research note on Thursday, March 1st. Finally, BMO Capital Markets raised their target price on Pure Storage from $22.00 to $25.00 and gave the company an “outperform” rating in a research note on Friday, March 2nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $21.29.

In other Pure Storage news, President David Hatfield sold 10,000 shares of Pure Storage stock in a transaction on Monday, January 29th. The stock was sold at an average price of $20.00, for a total value of $200,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Scott Dietzen sold 125,000 shares of Pure Storage stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $21.37, for a total value of $2,671,250.00. The disclosure for this sale can be found here. In the last three months, insiders sold 635,206 shares of company stock valued at $11,807,746. Corporate insiders own 46.58% of the company’s stock.

Several institutional investors have recently bought and sold shares of PSTG. Fortaleza Asset Management Inc. bought a new stake in shares of Pure Storage in the fourth quarter worth $154,000. Ardsley Advisory Partners bought a new stake in shares of Pure Storage in the fourth quarter worth $159,000. SG Americas Securities LLC bought a new stake in shares of Pure Storage in the fourth quarter worth $162,000. Great West Life Assurance Co. Can grew its holdings in shares of Pure Storage by 151.3% in the third quarter. Great West Life Assurance Co. Can now owns 11,310 shares of the technology company’s stock worth $180,000 after acquiring an additional 6,810 shares during the period. Finally, Invictus RG bought a new stake in shares of Pure Storage in the third quarter worth $187,000. 45.49% of the stock is owned by institutional investors and hedge funds.

Pure Storage (PSTG) traded down $0.55 on Monday, hitting $20.58. The stock had a trading volume of 1,810,853 shares, compared to its average volume of 2,729,197. The stock has a market cap of $4,532.91, a PE ratio of -24.46 and a beta of 1.23. Pure Storage has a 52 week low of $9.61 and a 52 week high of $22.60.

ILLEGAL ACTIVITY NOTICE: “Pure Storage Inc (PSTG) Expected to Post Quarterly Sales of $251.62 Million” was first posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this story on another site, it was illegally stolen and reposted in violation of U.S. & international trademark and copyright laws. The legal version of this story can be read at https://www.dispatchtribunal.com/2018/04/07/pure-storage-inc-pstg-expected-to-post-quarterly-sales-of-251-62-million.html.

About Pure Storage

Pure Storage, Inc provides a data platform. The Company is focused on delivering software-defined all-flash solutions that are fast and cloud-capable for customers, enabling customers to put data to work for their businesses. Its data platform replaces storage systems designed for mechanical disk with all-flash systems optimized end-to-end for solid-state memory.

Get a free copy of the Zacks research report on Pure Storage (PSTG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Pure Storage (NYSE:PSTG)

Receive News & Ratings for Pure Storage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pure Storage and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply