Pure Storage (PSTG) to Release Quarterly Earnings on Wednesday

Pure Storage (NYSE:PSTG) will issue its quarterly earnings data after the market closes on Wednesday, May 29th. Analysts expect the company to announce earnings of $0.22 per share for the quarter. Pure Storage has set its FY 2025 guidance at EPS and its Q1 2025 guidance at EPS.Parties that wish to register for the company’s conference call can do so using this link.

Pure Storage (NYSE:PSTG) last announced its earnings results on Wednesday, February 28th. The technology company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.10. The firm had revenue of $789.81 million during the quarter, compared to analysts’ expectations of $784.31 million. Pure Storage had a return on equity of 12.60% and a net margin of 2.17%. The company’s quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.27 EPS. On average, analysts expect Pure Storage to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Pure Storage Price Performance

Shares of Pure Storage stock opened at $61.05 on Monday. The stock has a 50 day moving average price of $53.66 and a 200-day moving average price of $44.86. Pure Storage has a one year low of $25.29 and a one year high of $62.22. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.80 and a current ratio of 1.83. The stock has a market cap of $19.84 billion, a price-to-earnings ratio of 359.14, a price-to-earnings-growth ratio of 6.81 and a beta of 1.15.

Insider Buying and Selling at Pure Storage

In other Pure Storage news, Director Scott Dietzen sold 147,000 shares of the business’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $53.49, for a total transaction of $7,863,030.00. Following the sale, the director now owns 100,000 shares in the company, valued at approximately $5,349,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Pure Storage news, Director Scott Dietzen sold 147,000 shares of the business’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $53.49, for a total transaction of $7,863,030.00. Following the sale, the director now owns 100,000 shares in the company, valued at approximately $5,349,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO P. Kevan Krysler sold 15,286 shares of the company’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $52.80, for a total value of $807,100.80. Following the completion of the sale, the chief financial officer now owns 507,824 shares in the company, valued at approximately $26,813,107.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 286,581 shares of company stock worth $15,266,704. 6.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

PSTG has been the subject of a number of recent analyst reports. Stifel Nicolaus boosted their price objective on Pure Storage from $41.00 to $46.00 and gave the company a “hold” rating in a report on Thursday, February 29th. Bank of America boosted their price objective on Pure Storage from $42.00 to $50.00 and gave the company a “neutral” rating in a report on Thursday, February 29th. Raymond James cut Pure Storage from a “strong-buy” rating to an “outperform” rating and boosted their price objective for the company from $52.00 to $63.00 in a report on Friday, April 19th. KeyCorp upped their target price on Pure Storage from $51.00 to $55.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Finally, UBS Group upped their target price on Pure Storage from $38.00 to $44.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Pure Storage has an average rating of “Moderate Buy” and a consensus price target of $52.26.

About Pure Storage

Pure Storage, Inc engages in the provision of data storage and management technologies, products, and services in the United States and internationally. Its Purity software is shared across its products and provides enterprise-class data services, such as always-on data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object.