Wall Street brokers expect Pure Storage, Inc. (NYSE: PSTG) to report revenue of $ 630.98 million for the current quarter, Zack reports. Nine analysts made estimates for Pure Storage’s earnings. The lowest sales estimate is $ 627.94 million and the highest is $ 635.50 million. Pure Storage reported sales of $ 502.72 million in the same quarter last year, suggesting a positive year-over-year growth rate of 25.5%. The company is expected to release its next quarterly earnings report on Wednesday, February 23.
Zacks says analysts expect Pure Storage to report annual revenue of $ 2.10 billion for the current fiscal year, with estimates ranging from $ 2.10 billion to $ 2.11 billion. of dollars. For next year, analysts predict the company will post sales of $ 2.49 billion, with estimates ranging from $ 2.43 billion to $ 2.57 billion. Zacks’ sales calculations are an average based on a survey of research companies that provide coverage for Pure Storage.
Pure Storage (NYSE: PSTG) last released its results on Tuesday, November 23. The tech company reported earnings per share (EPS) of $ 0.22 for the quarter, beating Thomson Reuters’ consensus estimate of $ 0.12 of $ 0.10. Pure Storage recorded a negative return on equity of 15.40% and a negative net margin of 10.66%. The company posted revenue of $ 562.74 million for the quarter, against analysts’ expectations of $ 530.66 million. During the same period of the previous year, the company posted ($ 0.22) earnings per share. The company’s turnover is up 37.1% compared to the same quarter last year.
Several equity research analysts commented on the stock. UBS Group raised its price target on Pure Storage shares from $ 28.00 to $ 32.00 and gave the company a “buy” rating in a report released on Wednesday, September 29. Morgan Stanley raised its price target on Pure Storage shares from $ 27.00 to $ 33.00 and gave the company an “equal weight” rating in a report released on Wednesday, November 24. KeyCorp raised its price target on Pure Storage shares from $ 30.00 to $ 34.00 and assigned the company an “overweight” rating in a Wednesday, November 24th research note. Susquehanna reaffirmed a “buy” note and set a price target of $ 40.00 for shares of Pure Storage in a research report released on Thursday, December 30. Finally, Raymond James raised his price target on the Pure Storage stock from $ 31.00 to $ 35, and gave the stock a “strong buy” rating in a research report published on Wednesday, September 29. . Three equity research analysts rated the stock with a conservation rating, sixteen issued a buy rating, and one issued a strong buy rating for the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $ 32.80.
Actions of NYSE: PSTG open at $ 31.65 Wednesday. The company has a 50-day moving average of $ 30.40 and a 200-day moving average of $ 25.37. The company has a market cap of $ 9.18 billion, a price-to-earnings ratio of -42.20 and a beta of 1.35. The company has a quick ratio of 2.41, a current ratio of 2.47, and a debt ratio of 1.07. Pure Storage has a 52 week low of $ 16.79 and a 52 week high of $ 35.09.
In other news, the director Tomb of Gregory sold 29,311 shares of the company in a trade on Thursday, December 2. The shares were sold for an average price of $ 31.45, for a total value of $ 921,830.95. The sale was disclosed in a file with the Securities & Exchange Commission, which is available through the SEC website. Also, financial director P. Kevan Krysler sold 26,444 shares in a trade on Thursday, December 9. The shares were sold at an average price of $ 32.80, for a total trade of $ 867,363.20. Disclosure of this sale can be found here. 6.80% of the shares are currently held by insiders.
A number of hedge funds and other institutional investors have recently bought and sold PSTG shares. Teacher Retirement System of Texas increased its stake in Pure Storage by 17.9% during the 2nd quarter. Teacher Retirement System of Texas now owns 31,119 shares of the tech company valued at $ 608,000 after acquiring an additional 4,728 shares in the last quarter. US Bancorp DE increased its holdings of Pure Storage shares by 4.8% in the second quarter. US Bancorp DE now owns 36,354 shares of the tech company valued at $ 710,000 after purchasing an additional 1,651 shares during the period. The Swiss National Bank increased its holdings of Pure Storage shares by 3.6% in the second quarter. The Swiss National Bank now owns 571,300 shares of the tech company valued at $ 11,157,000 after purchasing an additional 19,800 shares during the period. PNC Financial Services Group Inc. increased its holdings of Pure Storage shares by 10.9% during the second quarter. PNC Financial Services Group Inc. now owns 15,461 shares of the technology company valued at $ 301,000 after purchasing an additional 1,525 shares during the period. Finally, HighTower Advisors LLC increased its stake in Pure Storage shares by 135.6% during the second quarter. HighTower Advisors LLC now owns 44,500 shares of the tech company valued at $ 870,000 after purchasing an additional 25,615 shares during the period. Hedge funds and other institutional investors hold 79.79% of the company’s shares.
About pure storage
Pure Storage, Inc is committed to providing flash storage solutions. Its technology replaces storage systems designed for mechanical disks with all-flash systems optimized from end to end for solid-state memory. The company was founded by John Hayes and John Colgrove in October 2009 and is headquartered in Mountain View, California.
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