Brokerages forecast that Pure Storage Inc (NYSE:PSTG) will report $333.82 million in sales for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for Pure Storage’s earnings, with the highest sales estimate coming in at $335.00 million and the lowest estimate coming in at $332.96 million. Pure Storage reported sales of $255.95 million in the same quarter last year, which would suggest a positive year over year growth rate of 30.4%. The business is expected to issue its next quarterly earnings report on Monday, May 20th.
According to Zacks, analysts expect that Pure Storage will report full-year sales of $1.77 billion for the current year, with estimates ranging from $1.75 billion to $1.79 billion. For the next financial year, analysts anticipate that the firm will post sales of $2.19 billion, with estimates ranging from $2.08 billion to $2.27 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Pure Storage.
Pure Storage (NYSE:PSTG) last released its quarterly earnings data on Thursday, February 28th. The technology company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.04). Pure Storage had a negative net margin of 13.12% and a negative return on equity of 23.31%.
Pure Storage stock traded down $0.05 during mid-day trading on Monday, hitting $20.87. The company’s stock had a trading volume of 3,145,387 shares, compared to its average volume of 3,401,134. Pure Storage has a 12 month low of $13.99 and a 12 month high of $29.14. The company has a market capitalization of $5.05 billion, a PE ratio of -29.81 and a beta of 1.71. The company has a quick ratio of 3.52, a current ratio of 3.64 and a debt-to-equity ratio of 0.63.
In other Pure Storage news, CFO Timothy Riitters sold 5,210 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $19.92, for a total transaction of $103,783.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 15.30% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the company. FMR LLC grew its position in shares of Pure Storage by 15.9% in the 3rd quarter. FMR LLC now owns 17,514,682 shares of the technology company’s stock worth $454,506,000 after buying an additional 2,399,957 shares during the last quarter. BlackRock Inc. grew its position in Pure Storage by 8.6% during the 3rd quarter. BlackRock Inc. now owns 16,404,477 shares of the technology company’s stock worth $425,695,000 after purchasing an additional 1,296,027 shares during the last quarter. Vanguard Group Inc. grew its position in Pure Storage by 14.4% during the 3rd quarter. Vanguard Group Inc. now owns 15,371,526 shares of the technology company’s stock worth $398,892,000 after purchasing an additional 1,933,591 shares during the last quarter. Vanguard Group Inc grew its position in Pure Storage by 14.4% during the 3rd quarter. Vanguard Group Inc now owns 15,371,526 shares of the technology company’s stock worth $398,892,000 after purchasing an additional 1,933,591 shares during the last quarter. Finally, William Blair Investment Management LLC grew its position in Pure Storage by 40.4% during the 3rd quarter. William Blair Investment Management LLC now owns 11,149,520 shares of the technology company’s stock worth $289,330,000 after purchasing an additional 3,209,534 shares during the last quarter. Hedge funds and other institutional investors own 74.31% 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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