FY2018 EPS Estimates for Pure Storage Inc Boosted by Analyst (PSTG)

Pure Storage Inc (NYSE:PSTG) – Equities researchers at William Blair boosted their FY2018 earnings per share estimates for Pure Storage in a research note issued to investors on Wednesday. William Blair analyst J. Ader now anticipates that the technology company will post earnings per share of ($0.95) for the year, up from their previous estimate of ($1.00). William Blair currently has a “Ourperform” rating on the stock. William Blair also issued estimates for Pure Storage’s Q1 2019 earnings at ($0.28) EPS, Q2 2019 earnings at ($0.27) EPS, Q3 2019 earnings at ($0.19) EPS, Q4 2019 earnings at ($0.13) EPS, FY2020 earnings at ($0.62) EPS and FY2021 earnings at ($0.30) EPS.

Pure Storage (NYSE:PSTG) last posted its quarterly earnings results on Tuesday, November 28th. The technology company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.03) by $0.02. The firm had revenue of $277.70 million for the quarter, compared to the consensus estimate of $272.07 million. Pure Storage had a negative net margin of 22.86% and a negative return on equity of 44.86%. The business’s revenue was up 41.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.10) earnings per share.

Several other research firms also recently commented on PSTG. UBS reissued a “buy” rating and set a $22.00 price target (up from $18.00) on shares of Pure Storage in a research note on Wednesday, November 29th. Maxim Group reissued a “hold” rating and set a $20.00 price target (up from $15.00) on shares of Pure Storage in a research note on Wednesday, November 29th. Lake Street Capital set a $21.00 target price on shares of Pure Storage and gave the stock a “buy” rating in a research note on Wednesday, November 29th. They noted that the move was a valuation call. BMO Capital Markets lifted their target price on shares of Pure Storage to $22.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 29th. Finally, Barclays reaffirmed a “hold” rating and issued a $19.00 target price on shares of Pure Storage in a research note on Wednesday, November 29th. One analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $18.55.

Pure Storage (PSTG) traded down $0.06 during mid-day trading on Monday, hitting $16.98. 1,458,146 shares of the company’s stock traded hands, compared to its average volume of 1,771,460. Pure Storage has a 52-week low of $9.12 and a 52-week high of $19.27.

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. boosted its holdings in shares of Pure Storage by 6.3% during the 2nd quarter. BlackRock Inc. now owns 14,513,166 shares of the technology company’s stock valued at $185,913,000 after buying an additional 863,990 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Pure Storage by 26.7% during the 2nd quarter. Vanguard Group Inc. now owns 7,059,059 shares of the technology company’s stock valued at $90,427,000 after buying an additional 1,489,008 shares in the last quarter. FMR LLC boosted its holdings in shares of Pure Storage by 10.9% during the 2nd quarter. FMR LLC now owns 6,359,676 shares of the technology company’s stock valued at $81,467,000 after buying an additional 622,600 shares in the last quarter. Okumus Fund Management Ltd. boosted its holdings in shares of Pure Storage by 4.1% during the 3rd quarter. Okumus Fund Management Ltd. now owns 5,299,197 shares of the technology company’s stock valued at $84,734,000 after buying an additional 206,943 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of Pure Storage by 5.0% during the 2nd quarter. Franklin Resources Inc. now owns 3,097,439 shares of the technology company’s stock valued at $39,679,000 after buying an additional 146,411 shares in the last quarter. Hedge funds and other institutional investors own 38.46% of the company’s stock.

In other Pure Storage news, President David Hatfield sold 130,000 shares of the business’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $18.05, for a total transaction of $2,346,500.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Timothy Riitters sold 5,000 shares of the business’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $14.56, for a total transaction of $72,800.00. Following the transaction, the chief financial officer now directly owns 282,200 shares in the company, valued at $4,108,832. The disclosure for this sale can be found here. Over the last three months, insiders have sold 317,028 shares of company stock worth $5,304,635. Insiders own 41.47% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “FY2018 EPS Estimates for Pure Storage Inc Boosted by Analyst (PSTG)” was originally reported by Ticker Report and is the property of of Ticker Report. If you are reading this piece on another domain, it was illegally stolen and republished in violation of US and international copyright legislation. The original version of this piece can be accessed at https://www.tickerreport.com/banking-finance/3078240/fy2018-eps-estimates-for-pure-storage-inc-boosted-by-analyst-pstg.html.

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.

Receive News & Ratings for Pure Storage Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pure Storage Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

How to Trade on Forex – 8 Steps for Beginners
How to Trade on Forex – 8 Steps for Beginners
Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back


Leave a Reply

© 2006-2017 Ticker Report. Google+.