Equities research analysts expect Pure Storage Inc (NYSE:PSTG) to report $0.08 earnings per share (EPS) for the current quarter, Zacks reports. Six analysts have provided estimates for Pure Storage’s earnings. The lowest EPS estimate is $0.06 and the highest is $0.11. Pure Storage reported earnings of $0.13 per share during the same quarter last year, which would suggest a negative year over year growth rate of 38.5%. The business is expected to report its next earnings results after the market closes on Thursday, November 21st.

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 $0.15 to $0.29. For the next financial year, analysts forecast that the firm will post earnings of $0.43 per share, with EPS estimates ranging from $0.27 to $0.59. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that cover Pure Storage.

Pure Storage (NYSE:PSTG) last issued its quarterly earnings results on Wednesday, August 21st. The technology company reported ($0.23) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.28) by $0.05. Pure Storage had a negative return on equity of 25.22% and a negative net margin of 14.51%. The firm had revenue of $396.30 million during the quarter, compared to the consensus estimate of $392.34 million. During the same period last year, the business posted $0.01 EPS. The business’s revenue was up 28.3% compared to the same quarter last year.

A number of analysts have weighed in on the company. Wells Fargo & Co increased their price target on Pure Storage from $23.00 to $25.00 and gave the stock an “outperform” rating in a report on Wednesday, September 18th. Stifel Nicolaus increased their price target on Pure Storage from $16.00 to $18.00 and gave the stock a “hold” rating in a report on Wednesday, September 18th. Lake Street Capital set a $19.00 price target on Pure Storage and gave the stock a “buy” rating in a report on Thursday, August 22nd. Cross Research upgraded Pure Storage from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a report on Wednesday, September 18th. Finally, Zacks Investment Research upgraded Pure Storage from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a report on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $21.26.

In related news, CFO Timothy Riitters sold 10,420 shares of the firm’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $15.78, for a total value of $164,427.60. Following the transaction, the chief financial officer now owns 417,425 shares of the company’s stock, valued at approximately $6,586,966.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last ninety days, insiders sold 31,260 shares of company stock worth $527,460. 10.00% of the stock is owned by insiders.

A number of large investors have recently bought and sold shares of PSTG. Eminence Capital LP increased its stake in shares of Pure Storage by 107.0% during the 2nd quarter. Eminence Capital LP now owns 10,790,325 shares of the technology company’s stock worth $164,768,000 after purchasing an additional 5,576,975 shares during the last quarter. First Trust Advisors LP increased its stake in shares of Pure Storage by 700.6% during the 2nd quarter. First Trust Advisors LP now owns 3,605,549 shares of the technology company’s stock worth $55,057,000 after purchasing an additional 3,155,201 shares during the last quarter. Nuveen Asset Management LLC purchased a new stake in shares of Pure Storage during the 2nd quarter worth approximately $42,990,000. Westfield Capital Management Co. LP increased its stake in shares of Pure Storage by 117.9% during the 2nd quarter. Westfield Capital Management Co. LP now owns 3,772,827 shares of the technology company’s stock worth $57,611,000 after purchasing an additional 2,041,431 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. increased its stake in shares of Pure Storage by 86.1% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 3,426,730 shares of the technology company’s stock worth $52,326,000 after purchasing an additional 1,585,062 shares during the last quarter. Hedge funds and other institutional investors own 76.33% of the company’s stock.

Pure Storage stock traded up $0.48 during trading hours on Friday, reaching $20.48. 3,390,454 shares of the company’s stock were exchanged, compared to its average volume of 3,601,010. The company has a quick ratio of 3.14, a current ratio of 3.21 and a debt-to-equity ratio of 0.76. The firm’s 50 day simple moving average is $18.29 and its 200 day simple moving average is $16.97. Pure Storage has a twelve month low of $12.68 and a twelve month high of $23.53. The firm has a market capitalization of $5.19 billion, a PE ratio of -29.26 and a beta of 1.78.

Pure Storage Company Profile

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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Earnings History and Estimates for Pure Storage (NYSE:PSTG)

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