Brokerages expect Pure Storage Inc (NYSE:PSTG) to post $0.09 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Ten analysts have provided estimates for Pure Storage’s earnings. The lowest EPS estimate is $0.08 and the highest is $0.11. Pure Storage posted earnings of ($0.01) per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 1,000%. The company is expected to announce its next earnings results on Tuesday, November 27th.

On average, analysts expect that Pure Storage will report full-year earnings of $0.21 per share for the current financial year, with EPS estimates ranging from $0.14 to $0.32. For the next year, analysts forecast that the company will report earnings of $0.45 per share, with EPS estimates ranging from $0.26 to $0.75. Zacks’ EPS averages are a mean average based on a survey of research analysts that that provide coverage for Pure Storage.

Pure Storage (NYSE:PSTG) last announced its quarterly earnings data on Tuesday, August 21st. The technology company reported $0.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.07. The business had revenue of $308.90 million during the quarter, compared to analysts’ expectations of $301.32 million. Pure Storage had a negative return on equity of 30.56% and a negative net margin of 15.07%. The firm’s quarterly revenue was up 37.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.11) earnings per share.

A number of research analysts have issued reports on the company. Bank of America reiterated a “buy” rating and set a $33.00 price objective on shares of Pure Storage in a research note on Wednesday. Oppenheimer lifted their price objective on Pure Storage from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, August 22nd. KeyCorp lifted their price objective on Pure Storage from $27.00 to $29.00 and gave the company an “overweight” rating in a research note on Thursday, June 28th. Deutsche Bank lifted their price objective on Pure Storage from $25.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, August 22nd. Finally, ValuEngine upgraded Pure Storage from a “hold” rating to a “buy” rating in a research note on Monday, June 4th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $26.24.

NYSE:PSTG traded down $0.67 during trading hours on Friday, reaching $26.88. 5,858,030 shares of the company traded hands, compared to its average volume of 2,755,685. The stock has a market capitalization of $6.21 billion, a price-to-earnings ratio of -32.00 and a beta of 1.34. Pure Storage has a 1 year low of $14.95 and a 1 year high of $29.14. The company has a current ratio of 4.03, a quick ratio of 3.91 and a debt-to-equity ratio of 0.68.

In related news, insider John Colgrove sold 3,428 shares of the company’s stock in a transaction on Thursday, July 5th. The stock was sold at an average price of $23.38, for a total transaction of $80,146.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Charles H. Giancarlo sold 54,990 shares of the company’s stock in a transaction on Thursday, September 20th. The shares were sold at an average price of $27.46, for a total value of $1,510,025.40. The disclosure for this sale can be found here. Insiders sold 6,397,747 shares of company stock valued at $150,517,411 in the last 90 days. Company insiders own 15.30% of the company’s stock.

A number of institutional investors have recently bought and sold shares of PSTG. FMR LLC increased its position in Pure Storage by 66.8% during the second quarter. FMR LLC now owns 15,114,725 shares of the technology company’s stock valued at $360,940,000 after acquiring an additional 6,055,122 shares during the last quarter. Voya Investment Management LLC increased its position in Pure Storage by 4,195.3% during the second quarter. Voya Investment Management LLC now owns 1,803,525 shares of the technology company’s stock valued at $43,069,000 after acquiring an additional 1,761,537 shares during the last quarter. Blair William & Co. IL increased its position in Pure Storage by 4,922.3% during the first quarter. Blair William & Co. IL now owns 1,651,326 shares of the technology company’s stock valued at $32,944,000 after acquiring an additional 1,618,446 shares during the last quarter. Morgan Stanley increased its position in Pure Storage by 175.7% during the second quarter. Morgan Stanley now owns 2,480,932 shares of the technology company’s stock valued at $59,244,000 after acquiring an additional 1,581,205 shares during the last quarter. Finally, Bank of America Corp DE increased its position in Pure Storage by 165.3% during the second quarter. Bank of America Corp DE now owns 2,322,372 shares of the technology company’s stock valued at $55,458,000 after acquiring an additional 1,446,951 shares during the last quarter. Institutional investors own 68.86% 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, a converged infrastructure solution.

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

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