Equities research analysts expect Pure Storage Inc (NYSE:PSTG) to report earnings per share (EPS) of ($0.01) for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Pure Storage’s earnings. The lowest EPS estimate is ($0.06) and the highest is $0.03. Pure Storage posted earnings of $0.01 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 200%. The company is expected to report its next earnings report on Tuesday, August 20th.

According to Zacks, analysts expect that Pure Storage will report full year earnings of $0.31 per share for the current financial year, with EPS estimates ranging from $0.19 to $0.40. For the next financial year, analysts anticipate that the company will report earnings of $0.54 per share, with EPS estimates ranging from $0.31 to $0.71. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that follow Pure Storage.

Pure Storage (NYSE:PSTG) last announced its earnings results on Tuesday, May 21st. The technology company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.08). Pure Storage had a negative return on equity of 26.00% and a negative net margin of 14.99%. The business had revenue of $326.70 million for the quarter, compared to analyst estimates of $333.83 million.

Several research analysts recently issued reports on PSTG shares. KeyCorp cut their price target on shares of Pure Storage from $30.00 to $25.00 and set an “overweight” rating for the company in a report on Thursday. ValuEngine cut shares of Pure Storage from a “buy” rating to a “hold” rating in a report on Wednesday, May 8th. Cowen reissued an “outperform” rating and set a $28.00 price target (down from $30.00) on shares of Pure Storage in a report on Wednesday. Stifel Nicolaus cut their price target on shares of Pure Storage from $22.00 to $20.00 and set a “hold” rating for the company in a report on Wednesday. Finally, Morgan Stanley cut their price target on shares of Pure Storage from $22.00 to $21.00 and set an “equal weight” rating for the company in a report on Wednesday. Eight research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Pure Storage presently has a consensus rating of “Buy” and an average price target of $24.83.

In other Pure Storage news, CFO Timothy Riitters sold 5,210 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $19.92, for a total value of $103,783.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Scott Dietzen sold 33,000 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $22.43, for a total transaction of $740,190.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 564,260 shares of company stock valued at $11,880,961. 10.00% of the stock is currently owned by corporate insiders.

Institutional investors have recently modified their holdings of the business. IFG Advisory LLC boosted its position in shares of Pure Storage by 1.0% during the first quarter. IFG Advisory LLC now owns 56,172 shares of the technology company’s stock valued at $1,223,000 after purchasing an additional 536 shares in the last quarter. Bangor Savings Bank boosted its position in shares of Pure Storage by 1.9% during the fourth quarter. Bangor Savings Bank now owns 31,774 shares of the technology company’s stock valued at $511,000 after purchasing an additional 591 shares in the last quarter. Sonora Investment Management LLC boosted its position in shares of Pure Storage by 80.2% during the fourth quarter. Sonora Investment Management LLC now owns 1,910 shares of the technology company’s stock valued at $31,000 after purchasing an additional 850 shares in the last quarter. WealthTrust Fairport LLC boosted its position in shares of Pure Storage by 19.6% during the fourth quarter. WealthTrust Fairport LLC now owns 7,278 shares of the technology company’s stock valued at $117,000 after purchasing an additional 1,192 shares in the last quarter. Finally, California State Teachers Retirement System boosted its position in shares of Pure Storage by 0.5% during the first quarter. California State Teachers Retirement System now owns 260,242 shares of the technology company’s stock valued at $5,671,000 after purchasing an additional 1,279 shares in the last quarter. 77.83% of the stock is owned by institutional investors.

Shares of PSTG traded up $0.32 during mid-day trading on Friday, hitting $16.14. 5,310,311 shares of the company’s stock were exchanged, compared to its average volume of 2,561,017. Pure Storage has a fifty-two week low of $13.99 and a fifty-two week high of $29.14. The company has a market capitalization of $3.86 billion, a price-to-earnings ratio of -23.06 and a beta of 1.71. The company has a debt-to-equity ratio of 0.61, a quick ratio of 3.25 and a current ratio of 3.34.

About Pure Storage

Pure Storage, Inc engages in building a data platform that enables businesses to enhance performance and reduce complexity and costs worldwide. The company delivers its data platform through Purity Operating Environment, an optimized software for solid-state memory that offers enterprise-class storage and protocol services; FlashArray and FlashBlade optimized hardware products for solid-state memory to enhance the performance and density of flash, optimize its advanced software services, and reduce solution cost for customers; Pure1, a cloud-based management and support software; and FlashStack and Artificial Intelligence Ready Infrastructure converged infrastructure solutions.

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