Analysts Anticipate Pure Storage, Inc. (NYSE:PSTG) Will Announce Quarterly Sales of $480.49 Million - MarketBeat

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Wall Street brokerages predict that Pure Storage, Inc. (NYSE:PSTG) will report $480.49 million in sales for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have issued estimates for Pure Storage's earnings. The highest sales estimate is $485.00 million and the lowest is $477.00 million. Pure Storage posted sales of $492.00 million during the same quarter last year, which suggests a negative year-over-year growth rate of 2.3%. The firm is scheduled to issue its next earnings report on Thursday, February 25th.

According to Zacks, analysts expect that Pure Storage will report full-year sales of $1.66 billion for the current year, with estimates ranging from $1.66 billion to $1.67 billion. For the next year, analysts expect that the company will post sales of $1.92 billion, with estimates ranging from $1.75 billion to $2.09 billion. Zacks Investment Research's sales averages are an average based on a survey of sell-side analysts that cover Pure Storage.

Pure Storage (NYSE:PSTG) last released its earnings results on Tuesday, November 24th. The technology company reported $0.01 earnings per share for the quarter, beating the Thomson Reuters' consensus estimate of ($0.22) by $0.23. The company had revenue of $410.62 million for the quarter, compared to the consensus estimate of $407.26 million. Pure Storage had a negative return on equity of 13.46% and a negative net margin of 11.25%.

Several equities analysts recently weighed in on the company. Bank of America lifted their target price on Pure Storage from $20.00 to $21.00 and gave the company a "buy" rating in a research report on Wednesday, November 25th. Wedbush began coverage on Pure Storage in a research report on Thursday, November 12th. They issued a "neutral" rating and a $18.00 price objective on the stock. Barclays boosted their price objective on Pure Storage from $20.00 to $24.00 and gave the company an "overweight" rating in a research report on Wednesday, November 25th. Morgan Stanley boosted their price objective on Pure Storage from $20.00 to $25.00 and gave the company an "equal weight" rating in a research report on Wednesday, December 16th. Finally, BidaskClub downgraded Pure Storage from a "strong-buy" rating to a "buy" rating in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. The stock has a consensus rating of "Buy" and a consensus price target of $21.13.

NYSE PSTG opened at $22.61 on Friday. The company has a market capitalization of $6.17 billion, a PE ratio of -30.97 and a beta of 1.43. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.01 and a current ratio of 3.08. The business's fifty day moving average is $20.71 and its 200 day moving average is $17.67. Pure Storage has a fifty-two week low of $7.93 and a fifty-two week high of $24.63.

In other Pure Storage news, Director Scott Dietzen sold 185,000 shares of the business's stock in a transaction that occurred on Thursday, October 8th. The stock was sold at an average price of $18.01, for a total transaction of $3,331,850.00. Following the sale, the director now directly owns 127,500 shares of the company's stock, valued at $2,296,275. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 955,000 shares of company stock worth $18,723,835 over the last ninety days. Insiders own 10.00% of the company's stock.

A number of hedge funds and other institutional investors have recently modified their holdings of PSTG. Catalyst Private Wealth LLC bought a new stake in Pure Storage during the third quarter worth approximately $31,000. Benjamin Edwards Inc. increased its stake in Pure Storage by 159.5% during the third quarter. Benjamin Edwards Inc. now owns 2,286 shares of the technology company's stock worth $35,000 after acquiring an additional 1,405 shares during the last quarter. Private Advisor Group LLC bought a new position in shares of Pure Storage during the second quarter valued at approximately $38,000. Great West Life Assurance Co. Can grew its stake in shares of Pure Storage by 260.4% during the third quarter. Great West Life Assurance Co. Can now owns 55,830 shares of the technology company's stock valued at $73,000 after buying an additional 40,337 shares during the last quarter. Finally, Exchange Traded Concepts LLC grew its stake in shares of Pure Storage by 166.0% during the third quarter. Exchange Traded Concepts LLC now owns 5,520 shares of the technology company's stock valued at $85,000 after buying an additional 3,445 shares during the last quarter. 81.72% of the stock is currently owned by institutional investors.

Pure Storage Company Profile

Pure Storage, Inc provides technology and data storage solutions in the United States and internationally. It delivers solutions based on proprietary Purity Operating Environment Software that implements enterprise-class storage services, such as data reduction, encryption, and protection, as well as protocol services, including block, file, and object.