Analysts expect Pure Storage, Inc. (NYSE:PSTG) to announce sales of $272.46 million for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Pure Storage’s earnings. The highest sales estimate is $279.90 million and the lowest is $270.65 million. Pure Storage posted sales of $196.96 million during the same quarter last year, which would indicate a positive year over year growth rate of 38.3%. The firm is scheduled to issue its next earnings results on Wednesday, November 29th.

On average, analysts expect that Pure Storage will report full year sales of $272.46 million for the current financial year, with estimates ranging from $1.00 billion to $1.02 billion. For the next year, analysts expect that the company will report sales of $1.31 billion per share, with estimates ranging from $1.24 billion to $1.32 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Pure Storage.

Pure Storage (NYSE:PSTG) last released its quarterly earnings data on Thursday, August 24th. The technology company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.20. Pure Storage had a negative return on equity of 46.12% and a negative net margin of 29.55%. The firm had revenue of $224.50 million for the quarter, compared to the consensus estimate of $217.97 million. During the same quarter in the prior year, the company posted ($0.16) earnings per share. The firm’s revenue was up 37.6% on a year-over-year basis.

Several equities analysts have recently weighed in on PSTG shares. BidaskClub upgraded Pure Storage from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and issued a $14.00 target price on shares of Pure Storage in a research report on Thursday, May 25th. Vetr raised Pure Storage from a “buy” rating to a “strong-buy” rating and set a $15.00 target price on the stock in a research report on Tuesday, May 30th. ValuEngine raised Pure Storage from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. Finally, Susquehanna Bancshares Inc reissued a “positive” rating and issued a $16.00 target price on shares of Pure Storage in a research report on Wednesday, June 14th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $15.61.

In related news, CFO Timothy Riitters sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $14.56, for a total transaction of $72,800.00. Following the transaction, the chief financial officer now directly owns 282,200 shares of the company’s stock, valued at approximately $4,108,832. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michelangelo Volpi sold 35,673 shares of the business’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $13.03, for a total value of $464,819.19. The disclosure for this sale can be found here. Insiders have sold a total of 923,160 shares of company stock worth $12,245,513 in the last ninety days. Insiders own 41.47% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. increased its holdings in shares of Pure Storage by 38.8% during the 2nd 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. First Trust Advisors LP acquired a new position in shares of Pure Storage during the 1st quarter worth approximately $135,000. Point72 Asia Hong Kong Ltd increased its holdings in shares of Pure Storage by 34.7% during the 1st quarter. Point72 Asia Hong Kong Ltd now owns 13,815 shares of the technology company’s stock worth $136,000 after acquiring an additional 3,557 shares during the last quarter. BNP Paribas Arbitrage SA increased its holdings in shares of Pure Storage by 641.5% during the 2nd 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. Finally, Amalgamated Bank acquired a new position in shares of Pure Storage during the 2nd quarter worth approximately $151,000. 35.30% of the stock is currently owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY NOTICE: “$272.46 Million in Sales Expected for Pure Storage, Inc. (PSTG) This Quarter” was first reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this piece of content on another publication, it was illegally copied and reposted in violation of US & international copyright and trademark laws. The legal version of this piece of content can be viewed at https://www.thecerbatgem.com/2017/09/19/272-46-million-in-sales-expected-for-pure-storage-inc-pstg-this-quarter.html.

Pure Storage (NYSE:PSTG) traded down 0.20% during trading on Friday, reaching $14.65. The company had a trading volume of 1,398,238 shares. The company’s market capitalization is $3.10 billion. Pure Storage has a 52-week low of $9.12 and a 52-week high of $15.14. The company has a 50 day moving average price of $13.56 and a 200 day moving average price of $12.09.

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.

Get a free copy of the Zacks research report on Pure Storage (PSTG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Stock Ratings for Pure Storage Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pure Storage Inc. and related stocks with our FREE daily email newsletter.