Equities research analysts forecast that Pure Storage, Inc. (NYSE:PSTG) will report earnings per share (EPS) of ($0.31) for the current fiscal quarter, Zacks reports. Nine analysts have provided estimates for Pure Storage’s earnings. The lowest EPS estimate is ($0.33) and the highest is ($0.27). Pure Storage also posted earnings per share of ($0.31) during the same quarter last year. The company is scheduled to announce its next earnings report on Thursday, August 24th.
On average, analysts expect that Pure Storage will report full-year earnings of ($0.97) per share for the current fiscal year, with EPS estimates ranging from ($1.07) to ($0.80). For the next financial year, analysts forecast that the company will report earnings of ($0.71) per share, with EPS estimates ranging from ($0.91) to ($0.55). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that cover Pure Storage.
Pure Storage (NYSE:PSTG) last issued its quarterly earnings results on Wednesday, May 24th. The technology company reported ($0.14) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.22) by $0.08. Pure Storage had a negative return on equity of 44.04% and a negative net margin of 31.62%. The firm had revenue of $182.60 million during the quarter, compared to analysts’ expectations of $176.13 million. During the same period in the previous year, the business earned ($0.22) earnings per share. The firm’s revenue for the quarter was up 30.5% on a year-over-year basis.
Several equities analysts recently issued reports on PSTG shares. BMO Capital Markets reaffirmed an “outperform” rating and set a $14.00 price objective on shares of Pure Storage in a report on Wednesday, March 1st. Robert W. Baird reaffirmed a “neutral” rating and set a $13.00 price objective on shares of Pure Storage in a report on Thursday, March 2nd. William Blair reaffirmed an “outperform” rating on shares of Pure Storage in a report on Thursday, March 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 price objective (down from $18.00) on shares of Pure Storage in a report on Thursday, March 2nd. Finally, Jefferies Group LLC reduced their price objective on Pure Storage from $13.50 to $11.00 and set a “hold” rating for the company in a report on Thursday, March 2nd. Eleven investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $15.29.
In other news, Director Michelangelo Volpi sold 390,957 shares of Pure Storage stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $13.33, for a total value of $5,211,456.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Timothy Riitters sold 5,000 shares of Pure Storage stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $13.12, for a total value of $65,600.00. Following the completion of the sale, the chief financial officer now directly owns 245,703 shares of the company’s stock, valued at approximately $3,223,623.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,840,043 shares of company stock valued at $24,263,925. Company insiders own 46.58% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Pure Storage during the fourth quarter worth approximately $1,697,000. Thrivent Financial for Lutherans increased its stake in shares of Pure Storage by 11.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 242,990 shares of the technology company’s stock worth $2,748,000 after buying an additional 24,510 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Pure Storage by 88.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 12,170 shares of the technology company’s stock worth $138,000 after buying an additional 5,720 shares in the last quarter. Alyeska Investment Group L.P. increased its stake in shares of Pure Storage by 497.3% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,548,691 shares of the technology company’s stock worth $17,516,000 after buying an additional 1,289,407 shares in the last quarter. Finally, Two Sigma Investments LP increased its stake in shares of Pure Storage by 102.1% in the fourth quarter. Two Sigma Investments LP now owns 533,112 shares of the technology company’s stock worth $6,029,000 after buying an additional 269,312 shares in the last quarter. 34.76% of the stock is owned by institutional investors and hedge funds.
Shares of Pure Storage (PSTG) opened at 12.86 on Thursday. The company’s 50 day moving average price is $12.02 and its 200 day moving average price is $11.34. Pure Storage has a 12 month low of $9.12 and a 12 month high of $15.14. The stock’s market capitalization is $2.68 billion.
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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