Pure Storage (NYSE:PSTG) will be issuing its quarterly earnings data after the market closes on Wednesday, August 21st. Analysts expect the company to announce earnings of ($0.28) per share for the quarter. Pure Storage has set its FY 2020 guidance at EPS and its Q2 2020 guidance at EPS.Parties that are interested in participating in the company’s conference call can do so using this link.
Pure Storage (NYSE:PSTG) last released its quarterly earnings data on Tuesday, May 21st. The technology company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.08). Pure Storage had a negative net margin of 14.99% and a negative return on equity of 25.55%. The business had revenue of $326.70 million during the quarter, compared to analysts’ expectations of $333.83 million. On average, analysts expect Pure Storage to post $-1 EPS for the current fiscal year and $0 EPS for the next fiscal year.
Pure Storage stock opened at $13.42 on Wednesday. Pure Storage has a 1-year low of $12.68 and a 1-year high of $29.14. The stock has a market cap of $3.36 billion, a price-to-earnings ratio of -19.17 and a beta of 1.80. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.35 and a quick ratio of 3.25. The firm has a 50 day simple moving average of $15.09.
PSTG has been the subject of a number of recent research reports. Piper Jaffray Companies reduced their price objective on shares of Pure Storage from $25.00 to $20.00 and set an “overweight” rating for the company in a research note on Wednesday, May 22nd. KeyCorp reduced their price objective on shares of Pure Storage from $30.00 to $25.00 and set an “overweight” rating for the company in a research note on Thursday, May 23rd. Maxim Group set a $18.00 price objective on shares of Pure Storage and gave the company a “hold” rating in a research note on Friday, August 2nd. Credit Suisse Group reduced their price objective on shares of Pure Storage from $23.00 to $18.00 and set a “neutral” rating for the company in a research note on Wednesday, May 22nd. Finally, Cowen reiterated an “outperform” rating and issued a $28.00 price objective (down from $30.00) on shares of Pure Storage in a research note on Wednesday, May 22nd. Eight analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $23.99.
In other news, CFO Timothy Riitters sold 10,420 shares of the business’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $15.59, for a total transaction of $162,447.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 31,260 shares of company stock valued at $492,553 over the last 90 days. Company insiders own 10.00% of the company’s stock.
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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