Pure Storage (PSTG) Set to Announce Earnings on Tuesday

Pure Storage (NYSE:PSTG) will post its quarterly earnings results after the market closes on Tuesday, May 21st. Analysts expect Pure Storage to post earnings of ($0.29) per share for the quarter. Pure Storage has set its Q1 2020 guidance at EPS and its FY 2020 guidance at EPS.

Pure Storage (NYSE:PSTG) last posted its quarterly earnings data on Thursday, February 28th. The technology company reported ($0.08) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.02). Pure Storage had a negative net margin of 13.12% and a negative return on equity of 22.64%. The company had revenue of $422.22 million for the quarter, compared to analysts’ expectations of $443.27 million. On average, analysts expect Pure Storage to post $-1 EPS for the current fiscal year and $0 EPS for the next fiscal year.

PSTG stock opened at $20.75 on Tuesday. Pure Storage has a twelve month low of $13.99 and a twelve month high of $29.14. The company has a debt-to-equity ratio of 0.61, a quick ratio of 3.25 and a current ratio of 3.34. The stock has a market cap of $5.41 billion, a PE ratio of -29.64 and a beta of 1.71.

In other Pure Storage news, CFO Timothy Riitters sold 5,210 shares of Pure Storage stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $21.46, for a total value of $111,806.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Scott Dietzen sold 33,000 shares of Pure Storage stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $22.43, for a total value of $740,190.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 564,260 shares of company stock worth $11,880,961. 15.30% of the stock is owned by insiders.

A number of research analysts have recently weighed in on the company. ValuEngine cut Pure Storage from a “buy” rating to a “hold” rating in a research report on Wednesday, May 8th. Credit Suisse Group assumed coverage on Pure Storage in a research report on Thursday, April 11th. They set a “neutral” rating and a $23.00 price objective on the stock. Cowen raised Pure Storage from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $20.00 to $30.00 in a research report on Monday, April 8th. Oppenheimer set a $26.00 price target on Pure Storage and gave the stock a “buy” rating in a report on Tuesday, March 19th. Finally, Zacks Investment Research cut Pure Storage from a “buy” rating to a “hold” rating in a report on Wednesday, March 6th. Eight research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $26.10.

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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 for Pure Storage (NYSE:PSTG)

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