Pure Storage, Inc. (PSTG) Scheduled to Post Quarterly Earnings on Wednesday
Pure Storage, Inc. (NYSE:PSTG) is scheduled to issue its quarterly earnings data after the market closes on Wednesday, August 23rd. Analysts expect the company to announce earnings of ($0.14) per share for the quarter.
Pure Storage (NYSE:PSTG) last issued its quarterly earnings results on Wednesday, May 24th. The technology company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.08. Pure Storage had a negative net margin of 31.62% and a negative return on equity of 44.04%. The firm had revenue of $182.60 million during the quarter, compared to the consensus estimate of $176.13 million. During the same period in the prior year, the firm earned ($0.22) EPS. The business’s revenue was up 30.5% on a year-over-year basis. On average, analysts expect Pure Storage to post $-0.27 EPS for the current fiscal year and $0.01 EPS for the next fiscal year.
Shares of Pure Storage, Inc. (PSTG) opened at 12.61 on Wednesday. Pure Storage, Inc. has a one year low of $9.12 and a one year high of $15.14. The company’s market capitalization is $2.63 billion. The firm has a 50-day moving average of $12.93 and a 200-day moving average of $11.66.
In related news, CFO Timothy Riitters sold 10,248 shares of the stock in a transaction on Thursday, July 6th. The stock was sold at an average price of $12.81, for a total value of $131,276.88. Following the transaction, the chief financial officer now directly owns 227,200 shares in the company, valued at approximately $2,910,432. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Michelangelo Volpi sold 1,425,000 shares of the stock in a transaction on Friday, June 16th. The stock was sold at an average price of $13.15, for a total value of $18,738,750.00. The disclosure for this sale can be found here. Insiders have sold a total of 2,312,246 shares of company stock worth $30,410,081 over the last 90 days. Company insiders own 41.47% of the company’s stock.
PSTG has been the subject of a number of recent research reports. Robert W. Baird set a $14.00 target price on shares of Pure Storage and gave the company a “hold” rating in a research report on Monday. BidaskClub cut shares of Pure Storage from a “buy” rating to a “hold” rating in a research report on Saturday, June 10th. Morgan Stanley reissued an “equal weight” rating and issued a $13.00 target price (up previously from $12.00) on shares of Pure Storage in a research report on Wednesday, June 14th. Maxim Group cut shares of Pure Storage from a “buy” rating to a “hold” rating and reduced their target price for the company from $20.00 to $15.00 in a research report on Monday. Finally, BMO Capital Markets boosted their target price on shares of Pure Storage from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, May 25th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Pure Storage presently has an average rating of “Buy” and a consensus target price of $15.39.
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Pure Storage Company Profile
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.
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