Pure Storage, Inc. (PSTG) Scheduled to Post Quarterly Earnings on Tuesday
Pure Storage, Inc. (NYSE:PSTG) is scheduled to issue its quarterly earnings data after the market closes on Tuesday, November 28th. Analysts expect the company to announce earnings of ($0.03) per share for the quarter.
Pure Storage (NYSE:PSTG) last posted its quarterly earnings results on Thursday, August 24th. The technology company reported ($0.11) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.31) by $0.20. The business had revenue of $224.50 million during 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) earnings per share. On average, analysts expect Pure Storage to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.
Shares of Pure Storage, Inc. (NYSE PSTG) opened at $17.55 on Tuesday. Pure Storage, Inc. has a 12 month low of $9.12 and a 12 month high of $17.63.
PSTG has been the subject of several research 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 reiterated a “positive” rating and issued a $20.00 price target (up previously from $18.00) on shares of Pure Storage in a report on Thursday, October 5th. BMO Capital Markets reiterated an “outperform” rating and issued a $16.00 price target (up previously 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 increased their target price on shares of Pure Storage from $16.00 to $22.00 and gave the stock an “outperform” rating in a report on Friday, October 13th. One analyst has rated the stock with a sell rating, eight have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $16.82.
In other Pure Storage news, President David Hatfield sold 70,000 shares of the stock in a transaction dated Wednesday, October 18th. The shares were sold at an average price of $16.35, for a total transaction of $1,144,500.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Timothy Riitters sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $15.85, for a total transaction of $396,250.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 242,028 shares of company stock worth $3,773,235. 41.47% of the stock is owned by insiders.
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About Pure Storage
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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