Zacks: Analysts Anticipate Pure Storage Inc (PSTG) to Announce $0.18 Earnings Per Share

Wall Street brokerages expect Pure Storage Inc (NYSE:PSTG) to post earnings of $0.18 per share for the current fiscal quarter, Zacks reports. Eight analysts have issued estimates for Pure Storage’s earnings, with the highest EPS estimate coming in at $0.24 and the lowest estimate coming in at $0.16. Pure Storage posted earnings per share of $0.13 in the same quarter last year, which would suggest a positive year-over-year growth rate of 38.5%. The company is expected to report its next earnings results on Thursday, March 7th.

On average, analysts expect that Pure Storage will report full-year earnings of $0.26 per share for the current fiscal year, with EPS estimates ranging from $0.23 to $0.32. For the next year, analysts forecast that the business will post earnings of $0.43 per share, with EPS estimates ranging from $0.27 to $0.75. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that follow Pure Storage.

Pure Storage (NYSE:PSTG) last posted its quarterly earnings results on Monday, November 19th. The technology company reported ($0.10) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.03. Pure Storage had a negative return on equity of 25.00% and a negative net margin of 12.89%. The business had revenue of $372.80 million for the quarter, compared to analyst estimates of $367.37 million. During the same period last year, the company earned ($0.01) EPS. The firm’s revenue was up 34.3% on a year-over-year basis.

PSTG has been the topic of several recent research reports. Citigroup raised their price target on Pure Storage to $34.00 and gave the stock a “buy” rating in a research report on Thursday, September 6th. ValuEngine lowered Pure Storage from a “buy” rating to a “hold” rating in a research report on Saturday, October 27th. Bank of America restated a “buy” rating and issued a $33.00 price target on shares of Pure Storage in a research report on Wednesday, September 19th. Zacks Investment Research lowered Pure Storage from a “buy” rating to a “hold” rating in a research report on Monday, August 27th. Finally, Goldman Sachs Group upgraded Pure Storage from a “sell” rating to a “neutral” rating and set a $23.00 price target on the stock in a research report on Wednesday, October 17th. Seven investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Pure Storage currently has an average rating of “Buy” and an average price target of $26.34.

In other Pure Storage news, CFO Timothy Riitters sold 4,500 shares of Pure Storage stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $28.22, for a total transaction of $126,990.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Charles H. Giancarlo sold 54,990 shares of Pure Storage stock in a transaction dated Thursday, September 20th. The stock was sold at an average price of $27.46, for a total value of $1,510,025.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 189,417 shares of company stock worth $5,116,580. Corporate insiders own 15.30% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in PSTG. DekaBank Deutsche Girozentrale raised its stake in shares of Pure Storage by 169.1% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 4,090 shares of the technology company’s stock valued at $110,000 after purchasing an additional 2,570 shares during the period. Cerebellum GP LLC acquired a new stake in shares of Pure Storage in the 3rd quarter valued at about $171,000. Global X Management Co LLC acquired a new stake in shares of Pure Storage in the 2nd quarter valued at about $181,000. Ibex Investors LLC acquired a new stake in shares of Pure Storage in the 3rd quarter valued at about $200,000. Finally, CIBC Asset Management Inc acquired a new stake in shares of Pure Storage in the 3rd quarter valued at about $202,000. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:PSTG opened at $18.49 on Friday. Pure Storage has a 12-month low of $15.81 and a 12-month high of $29.14. The company has a debt-to-equity ratio of 0.68, a quick ratio of 3.91 and a current ratio of 4.03. The firm has a market capitalization of $4.17 billion, a PE ratio of -22.01 and a beta of 1.72.

About Pure Storage

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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