Pure Storage Inc (NYSE:PSTG) – Oppenheimer lowered their Q2 2019 EPS estimates for Pure Storage in a report issued on Monday. Oppenheimer analyst I. Kidron now expects that the technology company will post earnings of ($0.32) per share for the quarter, down from their previous forecast of ($0.29). Oppenheimer currently has a “Buy” rating and a $21.00 price target on the stock. Oppenheimer also issued estimates for Pure Storage’s Q3 2019 earnings at ($0.19) EPS, Q4 2019 earnings at ($0.07) EPS, FY2019 earnings at ($0.86) EPS and FY2020 earnings at ($0.83) EPS.

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Pure Storage (NYSE:PSTG) last released its earnings results on Thursday, March 1st. The technology company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.06. Pure Storage had a negative return on equity of 38.70% and a negative net margin of 17.36%. The business had revenue of $338.30 million for the quarter, compared to analyst estimates of $331.80 million. During the same quarter last year, the firm posted ($0.02) earnings per share. The business’s revenue was up 48.4% compared to the same quarter last year.

Several other equities analysts have also commented on PSTG. William Blair restated a “buy” rating on shares of Pure Storage in a research note on Thursday, March 8th. Vetr lowered Pure Storage from a “strong-buy” rating to a “buy” rating and set a $23.58 price target on the stock. in a research note on Thursday, March 15th. Maxim Group reaffirmed a “hold” rating and set a $21.00 price objective (up previously from $20.00) on shares of Pure Storage in a research report on Friday, March 2nd. TheStreet raised Pure Storage from a “d” rating to a “c-” rating in a research report on Thursday, March 1st. Finally, Barclays raised their price objective on Pure Storage from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Friday, March 2nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the company. Pure Storage presently has an average rating of “Buy” and a consensus target price of $21.29.

PSTG stock traded up $0.13 during mid-day trading on Wednesday, reaching $19.84. The company’s stock had a trading volume of 1,173,936 shares, compared to its average volume of 2,862,613. Pure Storage has a twelve month low of $9.61 and a twelve month high of $22.60. The stock has a market capitalization of $4,337.81, a price-to-earnings ratio of -23.37 and a beta of 1.23.

In other news, CFO Timothy Riitters sold 15,747 shares of the business’s stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $16.40, for a total value of $258,250.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President David Hatfield sold 2,169 shares of the business’s stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $16.49, for a total value of $35,766.81. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 765,206 shares of company stock valued at $14,651,246. 46.58% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Meitav Dash Investments Ltd. purchased a new stake in shares of Pure Storage during the fourth quarter worth approximately $790,000. MetLife Investment Advisors LLC purchased a new stake in shares of Pure Storage during the fourth quarter worth approximately $698,000. Verition Fund Management LLC purchased a new stake in shares of Pure Storage during the fourth quarter worth approximately $682,000. Millennium Management LLC increased its position in shares of Pure Storage by 442.0% during the fourth quarter. Millennium Management LLC now owns 2,417,888 shares of the technology company’s stock worth $38,348,000 after purchasing an additional 1,971,785 shares in the last quarter. Finally, Cornerstone Capital Management Holdings LLC. purchased a new stake in shares of Pure Storage during the fourth quarter worth approximately $879,000. Hedge funds and other institutional investors own 45.48% of the company’s stock.

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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.

Earnings History and Estimates for Pure Storage (NYSE:PSTG)

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