Equities analysts expect Pure Storage Inc (NYSE:PSTG) to announce $0.07 earnings per share for the current quarter, according to Zacks. Six analysts have made estimates for Pure Storage’s earnings, with the highest EPS estimate coming in at $0.08 and the lowest estimate coming in at $0.05. Pure Storage reported earnings per share of ($0.02) in the same quarter last year, which indicates a positive year over year growth rate of 450%. The business is scheduled to announce its next quarterly earnings results after the market closes on Thursday, March 1st.
According to Zacks, analysts expect that Pure Storage will report full-year earnings of ($0.19) per share for the current financial year, with EPS estimates ranging from ($0.22) to ($0.17). For the next fiscal year, analysts expect that the company will report earnings of $0.06 per share, with EPS estimates ranging from ($0.03) to $0.13. Zacks’ EPS calculations are a mean average based on a survey of research firms that cover Pure Storage.
Pure Storage (NYSE:PSTG) last issued its earnings results on Tuesday, November 28th. The technology company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.02. Pure Storage had a negative return on equity of 44.96% and a negative net margin of 22.86%. The firm had revenue of $277.70 million for the quarter, compared to the consensus estimate of $272.07 million. During the same quarter in the prior year, the business earned ($0.10) earnings per share. The company’s revenue was up 41.0% compared to the same quarter last year.
Shares of Pure Storage (PSTG) traded up $0.26 on Wednesday, hitting $21.97. The stock had a trading volume of 1,006,637 shares, compared to its average volume of 2,341,271. The stock has a market capitalization of $4,710.00 and a P/E ratio of -21.08. Pure Storage has a 1 year low of $9.12 and a 1 year high of $22.46.
In other Pure Storage news, CFO Timothy Riitters sold 15,747 shares of the stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $16.40, for a total transaction of $258,250.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Scott Dietzen sold 125,000 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $21.37, for a total value of $2,671,250.00. The disclosure for this sale can be found here. Insiders have sold 872,362 shares of company stock valued at $15,881,614 in the last three months. Insiders own 41.47% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Meitav Dash Investments Ltd. purchased a new stake in shares of Pure Storage in the fourth quarter valued at approximately $790,000. MetLife Investment Advisors LLC purchased a new stake in shares of Pure Storage in the fourth quarter valued at approximately $698,000. Verition Fund Management LLC purchased a new stake in shares of Pure Storage in the fourth quarter valued at approximately $682,000. Millennium Management LLC grew its position in shares of Pure Storage by 442.0% in the fourth quarter. Millennium Management LLC now owns 2,417,888 shares of the technology company’s stock valued at $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 in the fourth quarter valued at approximately $879,000. Institutional investors and hedge funds own 43.82% of the company’s stock.
About Pure Storage
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Pure Storage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pure Storage and related companies with MarketBeat.com's FREE daily email newsletter.