The Pure Storage Inc (PSTG) Expected to Post Earnings of -$0.38 Per Share

The Pure Storage Inc (PSTG) Expected to Post Earnings of -$0.38 Per Share

On average, analysts expect that Pure Storage will report full-year earnings of ($1.04) per share for the current year, with EPS estimates ranging from ($1.12) to ($0.91). For the next financial year, analysts anticipate that the company will post earnings of ($0.80) per share, with EPS estimates ranging from ($0.90) to ($0.70). Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that that provide coverage for Pure Storage.

Equities research analysts forecast that Pure Storage Inc (NYSE:PSTG) will announce earnings per share (EPS) of ($0.38) for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have provided estimates for Pure Storage’s earnings, with the lowest EPS estimate coming in at ($0.43) and the highest estimate coming in at ($0.35). Pure Storage posted earnings of ($0.34) per share in the same quarter last year, which indicates a negative year-over-year growth rate of 11.8%. The firm is expected to issue its next earnings results after the market closes on Wednesday, May 24th.

Pure Storage (NYSE:PSTG) last released its quarterly earnings data on Wednesday, March 1st. The technology company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.06. The company earned $227.90 million during the quarter, compared to the consensus estimate of $224.37 million. Pure Storage had a negative net margin of 37.84% and a negative return on equity of 41.13%. The firm’s revenue for the quarter was up 51.7% compared to the same quarter last year. During the same period last year, the firm earned ($0.12) EPS. PSTG has been the topic of several research reports. Vetr downgraded shares of Pure Storage from a “strong-buy” rating to a “buy” rating and set a $13.46 price target on the stock. in a research note on Tuesday, February 14th. Zacks Investment Research upgraded shares of Pure Storage from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a research note on Friday, January 13th. Needham & Company LLC restated a “buy” rating and issued a $15.00 price target (down from $18.00) on shares of Pure Storage in a research note on Thursday, March 2nd. Oppenheimer Holdings Inc. set a $15.00 price target on shares of Pure Storage and gave the company a “buy” rating in a research note on Thursday, March 2nd. Finally, CIBC restated a “buy” rating and issued a $15.00 price target on shares of Pure Storage in a research note on Tuesday, April 4th. Eight analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $15.88.

Pure Storage (NYSE:PSTG) last released its quarterly earnings data on Wednesday, March 1st. The technology company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.06. The company earned $227.90 million during the quarter, compared to the consensus estimate of $224.37 million. Pure Storage had a negative net margin of 37.84% and a negative return on equity of 41.13%. The firm’s revenue for the quarter was up 51.7% compared to the same quarter last year. During the same period last year, the firm earned ($0.12) EPS. Pure Storage (NYSE:PSTG) traded up 2.71% during trading on Wednesday, hitting $11.36. 1,755,773 shares of the stock were exchanged. The firm has a 50-day moving average of $10.34 and a 200-day moving average of $11.61. Pure Storage has a 52 week low of $9.12 and a 52 week high of $15.20. The stock’s market capitalization is $2.35 billion.

In other news, CFO Timothy Riitters sold 3,416 shares of the stock in a transaction dated Tuesday, March 21st. The shares were sold at an average price of $10.30, for a total value of $35,184.80. Following the completion of the transaction, the chief financial officer now owns 15,004 shares of the company’s stock, valued at $154,541.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michelangelo Volpi sold 1,356,976 shares of the stock in a transaction dated Wednesday, March 8th. The stock was sold at an average price of $10.41, for a total transaction of $14,126,120.16. The disclosure for this sale can be found here. Insiders sold 2,318,416 shares of company stock valued at $23,913,989 in the last three months. Company insiders own 46.58% of the company’s stock. Several hedge funds and other institutional investors have recently bought and sold shares of PSTG. Key Square Capital Management LLC acquired a new position in shares of Pure Storage during the fourth quarter worth about $19,162,000. Two Sigma Advisers LP raised its position in shares of Pure Storage by 27.0% in the third quarter. Two Sigma Advisers LP now owns 441,900 shares of the technology company’s stock worth $5,988,000 after buying an additional 94,000 shares during the period. United Services Automobile Association raised its position in shares of Pure Storage by 5.8% in the third quarter. United Services Automobile Association now owns 512,449 shares of the technology company’s stock worth $6,944,000 after buying an additional 27,947 shares during the period. Espalier Global Management LLC acquired a new position in shares of Pure Storage during the third quarter worth about $1,355,000. Finally, Quadrature Capital Ltd acquired a new position in shares of Pure Storage during the third quarter worth about $451,000. 49.00% of the stock is owned by hedge funds and other institutional investors.

Pure Storage Company Profile 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.

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