-$0.03 EPS Expected for Pure Storage, Inc. (PSTG) This Quarter
Brokerages expect Pure Storage, Inc. (NYSE:PSTG) to report earnings of ($0.03) per share for the current fiscal quarter, according to Zacks. Six analysts have issued estimates for Pure Storage’s earnings, with the lowest EPS estimate coming in at ($0.05) and the highest estimate coming in at ($0.01). Pure Storage posted earnings per share of ($0.10) during the same quarter last year, which would indicate a positive year over year growth rate of 70%. The company is scheduled to report its next earnings report on Wednesday, November 29th.
On average, analysts expect that Pure Storage will report full-year earnings of ($0.22) per share for the current financial year, with EPS estimates ranging from ($0.25) to ($0.17). For the next fiscal year, analysts expect that the company will report earnings of $0.04 per share, with EPS estimates ranging from ($0.13) to $0.14. Zacks Investment Research’s EPS averages are a mean average based on a survey of research analysts that follow Pure Storage.
Pure Storage (NYSE:PSTG) last posted its earnings results on Thursday, August 24th. The technology company reported ($0.11) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.31) by $0.20. The firm 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%. The company’s revenue was up 37.6% on a year-over-year basis. During the same period last year, the firm posted ($0.16) EPS.
PSTG has been the topic of several recent analyst reports. BidaskClub cut shares of Pure Storage from a “hold” rating to a “sell” rating in a report on Wednesday, October 11th. Susquehanna Bancshares Inc reaffirmed a “positive” rating and issued a $20.00 price target (up from $18.00) on shares of Pure Storage in a report on Thursday, October 5th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $16.00 price target (up from $15.00) on shares of Pure Storage in a report on Friday, August 25th. ValuEngine cut shares of Pure Storage from a “hold” rating to a “sell” rating in a report on Monday, September 11th. Finally, JMP Securities upped their price target on shares of Pure Storage from $16.00 to $22.00 and gave the company an “outperform” rating in a report on Friday, October 13th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $16.36.
In other news, CFO Timothy Riitters sold 55,000 shares of the company’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 transaction, the chief financial officer now owns 332,200 shares in the company, valued at $4,923,204. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President David Hatfield sold 70,000 shares of the company’s stock in a transaction dated Wednesday, October 18th. The stock was sold at an average price of $16.35, for a total transaction of $1,144,500.00. The disclosure for this sale can be found here. Insiders have sold 242,028 shares of company stock valued at $3,773,235 in the last 90 days. Insiders own 46.58% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. grew its position in shares of Pure Storage by 38.8% during the second quarter. Ameritas Investment Partners Inc. now owns 8,171 shares of the technology company’s stock worth $105,000 after acquiring an additional 2,284 shares during the last quarter. BNP Paribas Arbitrage SA grew its position in shares of Pure Storage by 641.5% during the second quarter. BNP Paribas Arbitrage SA now owns 11,649 shares of the technology company’s stock worth $149,000 after acquiring an additional 10,078 shares during the last quarter. Amalgamated Bank bought a new position in shares of Pure Storage during the second quarter worth about $151,000. Principal Financial Group Inc. bought a new position in shares of Pure Storage during the second quarter worth about $166,000. Finally, First Trust Advisors LP bought a new position in shares of Pure Storage during the first quarter worth about $135,000. Institutional investors and hedge funds own 35.30% of the company’s stock.
Pure Storage (PSTG) traded down 1.33% on Friday, hitting $16.28. 979,923 shares of the company were exchanged. Pure Storage has a 52-week low of $9.12 and a 52-week high of $16.64. The firm has a 50 day moving average of $15.45 and a 200-day moving average of $13.05. The stock’s market cap is $3.44 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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