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.
ILLEGAL ACTIVITY WARNING: This piece of content was posted by American Banking News and is owned by of American Banking News. If you are reading this piece of content on another site, it was illegally stolen and republished in violation of United States & international copyright and trademark laws. The legal version of this piece of content can be read at https://www.americanbankingnews.com/2019/05/14/pure-storage-pstg-set-to-announce-earnings-on-tuesday.html.
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.
Read More: What is the cash asset ratio?
Receive News & Ratings for Pure Storage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pure Storage and related companies with MarketBeat.com's FREE daily email newsletter.