Brokerages Anticipate Pure Storage, Inc. (NYSE:PSTG) Will Announce Earnings of $0.12 Per Share

Wall Street analysts expect Pure Storage, Inc. (NYSE:PSTG) to report earnings per share (EPS) of $0.12 for the current fiscal quarter, Zacks reports. Nine analysts have provided estimates for Pure Storage’s earnings, with the lowest EPS estimate coming in at $0.10 and the highest estimate coming in at $0.14. Pure Storage posted earnings per share of $0.01 in the same quarter last year, which would indicate a positive year over year growth rate of 1,100%. The company is scheduled to report its next quarterly earnings results on Tuesday, November 23rd.

According to Zacks, analysts expect that Pure Storage will report full year earnings of $0.45 per share for the current year, with EPS estimates ranging from $0.41 to $0.53. For the next fiscal year, analysts anticipate that the firm will report earnings of $0.60 per share, with EPS estimates ranging from $0.51 to $0.80. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that follow Pure Storage.

Pure Storage (NYSE:PSTG) last announced its quarterly earnings data on Tuesday, August 24th. The technology company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.09. The business had revenue of $496.80 million for the quarter, compared to analysts’ expectations of $471.56 million. Pure Storage had a negative return on equity of 21.92% and a negative net margin of 14.04%. The company’s revenue for the quarter was up 23.1% compared to the same quarter last year. During the same period last year, the firm earned $0.06 earnings per share.

A number of brokerages recently commented on PSTG. Susquehanna Bancshares restated a “buy” rating and issued a $33.00 price objective on shares of Pure Storage in a research report on Thursday, August 26th. Credit Suisse Group lifted their price objective on Pure Storage from $21.00 to $23.00 and gave the stock a “neutral” rating in a research report on Thursday, August 26th. Raymond James lifted their target price on shares of Pure Storage from $30.00 to $31.00 and gave the stock a “strong-buy” rating in a research note on Thursday, May 27th. Northland Securities raised shares of Pure Storage from a “market perform” rating to an “outperform” rating in a research note on Wednesday, September 8th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Pure Storage from $27.00 to $29.00 and gave the company a “buy” rating in a research note on Thursday, August 26th. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Pure Storage currently has an average rating of “Buy” and an average target price of $28.67.

Shares of PSTG stock traded up $0.26 during mid-day trading on Wednesday, hitting $26.74. 47,115 shares of the stock were exchanged, compared to its average volume of 4,620,247. The company has a debt-to-equity ratio of 1.07, a quick ratio of 2.59 and a current ratio of 2.66. Pure Storage has a 12-month low of $13.91 and a 12-month high of $29.53. The stock’s fifty day simple moving average is $21.32 and its two-hundred day simple moving average is $20.63. The stock has a market capitalization of $7.57 billion, a price-to-earnings ratio of -28.43 and a beta of 1.42.

In related news, Director Anita M. Sands sold 74,157 shares of Pure Storage stock in a transaction dated Friday, September 10th. The shares were sold at an average price of $26.79, for a total transaction of $1,986,666.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 6.80% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. CWM LLC lifted its position in shares of Pure Storage by 181.3% in the first quarter. CWM LLC now owns 1,381 shares of the technology company’s stock worth $30,000 after purchasing an additional 890 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in shares of Pure Storage by 2,617.6% in the first quarter. Canada Pension Plan Investment Board now owns 1,386 shares of the technology company’s stock valued at $30,000 after acquiring an additional 1,335 shares in the last quarter. IFP Advisors Inc lifted its position in Pure Storage by 82.3% during the first quarter. IFP Advisors Inc now owns 1,568 shares of the technology company’s stock worth $34,000 after purchasing an additional 708 shares during the period. Rockefeller Capital Management L.P. lifted its position in Pure Storage by 41.0% during the first quarter. Rockefeller Capital Management L.P. now owns 2,357 shares of the technology company’s stock worth $50,000 after purchasing an additional 685 shares during the period. Finally, Captrust Financial Advisors lifted its holdings in shares of Pure Storage by 3,322.1% in the first quarter. Captrust Financial Advisors now owns 2,327 shares of the technology company’s stock worth $50,000 after acquiring an additional 2,259 shares during the last quarter. 82.16% of the stock is currently owned by institutional investors and hedge funds.

About Pure Storage

Pure Storage, Inc engages in the provision of flash-based storage solutions. Its technology replaces storage systems designed for mechanical disk with all-flash systems optimized 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, CA.

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