Equities analysts expect Pure Storage, Inc. (NYSE:PSTG) to post $271.86 million in sales for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Pure Storage’s earnings, with the highest sales estimate coming in at $276.00 million and the lowest estimate coming in at $270.65 million. Pure Storage reported sales of $196.96 million during the same quarter last year, which indicates a positive year-over-year growth rate of 38%. The firm is scheduled to announce its next earnings report after the market closes on Tuesday, November 28th.
According to Zacks, analysts expect that Pure Storage will report full year sales of $271.86 million for the current year, with estimates ranging from $1.00 billion to $1.01 billion. For the next financial year, analysts expect that the firm will post sales of $1.31 billion per share, with estimates ranging from $1.24 billion to $1.35 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Pure Storage.
Pure Storage (NYSE:PSTG) last announced its quarterly earnings results on Thursday, August 24th. The technology company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.20. The company had revenue of $224.50 million for the quarter, compared to the consensus estimate of $217.97 million. Pure Storage had a negative net margin of 29.55% and a negative return on equity of 46.12%. Pure Storage’s revenue for the quarter was up 37.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.16) EPS.
A number of equities analysts have commented on PSTG shares. BidaskClub raised shares of Pure Storage from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. ValuEngine cut shares of Pure Storage from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Robert W. Baird set a $14.00 price objective on shares of Pure Storage and gave the stock a “hold” rating in a research note on Monday, August 14th. Maxim Group cut shares of Pure Storage from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $20.00 to $15.00 in a research note on Monday, August 14th. Finally, Summit Redstone raised shares of Pure Storage from a “hold” rating to a “buy” rating in a research note on Friday, August 25th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Pure Storage has a consensus rating of “Buy” and an average price target of $16.36.
Shares of Pure Storage (PSTG) traded down $0.05 during midday trading on Friday, reaching $16.78. 1,189,700 shares of the company’s stock were exchanged, compared to its average volume of 1,692,631. Pure Storage has a one year low of $9.12 and a one year high of $16.87.
In other Pure Storage news, President David Hatfield sold 70,000 shares of the business’s stock in a transaction dated Wednesday, October 18th. The shares were sold at an average price of $16.35, for a total value of $1,144,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Timothy Riitters sold 55,000 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $14.82, for a total transaction of $815,100.00. Following the completion of the sale, the chief financial officer now directly owns 332,200 shares of the company’s stock, valued at $4,923,204. The disclosure for this sale can be found here. Over the last three months, insiders sold 242,028 shares of company stock valued at $3,773,235. 41.47% of the stock is owned by corporate insiders.
Several large investors have recently bought and sold shares of PSTG. Ameritas Investment Partners Inc. raised its holdings in shares of Pure Storage by 38.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 8,171 shares of the technology company’s stock valued at $105,000 after purchasing an additional 2,284 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in shares of Pure Storage by 641.5% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 11,649 shares of the technology company’s stock valued at $149,000 after purchasing an additional 10,078 shares in the last quarter. Amalgamated Bank bought a new stake in shares of Pure Storage in the 2nd quarter valued at about $151,000. Principal Financial Group Inc. bought a new stake in shares of Pure Storage in the 2nd quarter valued at about $166,000. Finally, Great West Life Assurance Co. Can raised its holdings in shares of Pure Storage by 151.3% in the 3rd quarter. Great West Life Assurance Co. Can now owns 11,310 shares of the technology company’s stock valued at $180,000 after purchasing an additional 6,810 shares in the last quarter. Institutional investors and hedge funds own 35.17% of the company’s stock.
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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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