Equities research analysts forecast that Pure Storage Inc (NYSE:PSTG) will report $0.07 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for Pure Storage’s earnings. The highest EPS estimate is $0.08 and the lowest is $0.05. Pure Storage posted earnings per share of ($0.02) during the same quarter last year, which would suggest a positive year-over-year growth rate of 450%. The business is expected to announce its next earnings report on Wednesday, March 7th.

According to Zacks, analysts expect that Pure Storage will report full-year earnings of ($0.19) per share for the current year, with EPS estimates ranging from ($0.22) to ($0.17). For the next year, analysts expect that the company will post earnings of $0.05 per share, with EPS estimates ranging from ($0.06) to $0.13. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that that provide coverage for Pure Storage.

Pure Storage (NYSE:PSTG) last issued its earnings results on Tuesday, November 28th. The technology company reported ($0.01) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.02. Pure Storage had a negative return on equity of 44.96% and a negative net margin of 22.86%. The business had revenue of $277.70 million during the quarter, compared to analysts’ expectations of $272.07 million. During the same period in the prior year, the business earned ($0.10) EPS. The business’s revenue for the quarter was up 41.0% compared to the same quarter last year.

Several equities research analysts have weighed in on the company. BidaskClub upgraded Pure Storage from a “sell” rating to a “hold” rating in a report on Tuesday, September 26th. Lake Street Capital set a $21.00 price target on Pure Storage and gave the stock a “buy” rating in a research report on Wednesday, November 29th. They noted that the move was a valuation call. Maxim Group reissued a “hold” rating and issued a $20.00 price target (up from $15.00) on shares of Pure Storage in a research report on Wednesday, November 29th. KeyCorp reissued a “buy” rating and issued a $24.00 price target on shares of Pure Storage in a research report on Wednesday, November 29th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $16.00 price target (up from $15.00) on shares of Pure Storage in a research report on Friday, August 25th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Pure Storage has a consensus rating of “Buy” and an average target price of $18.55.

In related news, President David Hatfield sold 30,000 shares of the company’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $14.66, for a total transaction of $439,800.00. Following the transaction, the president now directly owns 215,190 shares of the company’s stock, valued at approximately $3,154,685.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Timothy Riitters sold 25,000 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $15.85, for a total value of $396,250.00. The disclosure for this sale can be found here. Insiders have sold a total of 549,184 shares of company stock worth $9,305,703 over the last ninety days. 46.58% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. increased its position in Pure Storage by 6.3% during the 2nd quarter. BlackRock Inc. now owns 14,513,166 shares of the technology company’s stock valued at $185,913,000 after buying an additional 863,990 shares in the last quarter. Vanguard Group Inc. increased its position in Pure Storage by 26.7% during the 2nd quarter. Vanguard Group Inc. now owns 7,059,059 shares of the technology company’s stock valued at $90,427,000 after buying an additional 1,489,008 shares in the last quarter. FMR LLC increased its position in Pure Storage by 10.9% during the 2nd quarter. FMR LLC now owns 6,359,676 shares of the technology company’s stock valued at $81,467,000 after buying an additional 622,600 shares in the last quarter. Okumus Fund Management Ltd. increased its position in Pure Storage by 4.1% during the 3rd quarter. Okumus Fund Management Ltd. now owns 5,299,197 shares of the technology company’s stock valued at $84,734,000 after buying an additional 206,943 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in Pure Storage by 5.0% during the 2nd quarter. Franklin Resources Inc. now owns 3,097,439 shares of the technology company’s stock valued at $39,679,000 after buying an additional 146,411 shares in the last quarter. 38.46% of the stock is currently owned by institutional investors.

Shares of Pure Storage (NYSE PSTG) remained flat at $$16.72 during mid-day trading on Friday. The company’s stock had a trading volume of 1,813,194 shares, compared to its average volume of 2,569,868. Pure Storage has a 1 year low of $9.12 and a 1 year high of $19.27.

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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.

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