Earnings results for Pure Storage (NYSE:PSTG)
Pure Storage, Inc. is expected* to report earnings on 05/26/2021 after market close. The report will be for the fiscal Quarter ending Apr 2021. According to Zacks Investment Research, based on 8 analysts’ forecasts, the consensus EPS forecast for the quarter is $-0.28. The reported EPS for the same quarter last year was $-0.24.
Pure Storage last issued its earnings results on February 24th, 2021. The technology company reported $0.13 earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.25. The business had revenue of $502.72 million for the quarter, compared to analyst estimates of $480.49 million. Pure Storage has generated ($0.66) earnings per share over the last year. Pure Storage has confirmed that its next quarterly earnings report will be published on Wednesday, May 26th, 2021.
Analyst Opinion on Pure Storage (NYSE:PSTG)
19 Wall Street analysts have issued ratings and price targets for Pure Storage in the last 12 months. Their average twelve-month price target is $26.37, predicting that the stock has a possible upside of 39.74%. The high price target for PSTG is $35.00 and the low price target for PSTG is $18.00. There are currently 4 hold ratings, 14 buy ratings and 1 strong buy rating for the stock, resulting in a consensus rating of “Buy.”
Pure Storage has received a consensus rating of Buy. The company’s average rating score is 2.84, and is based on 14 buy ratings, 4 hold ratings, and no sell ratings. According to analysts’ consensus price target of $26.37, Pure Storage has a forecasted upside of 39.7% from its current price of $18.87. Pure Storage has been the subject of 11 research reports in the past 90 days, demonstrating strong analyst interest in this stock.
Dividend Strength: Pure Storage (NYSE:PSTG)
Pure Storage does not currently pay a dividend. Pure Storage does not have a long track record of dividend growth.
Insiders buying/selling: Pure Storage (NYSE:PSTG)
In the past three months, Pure Storage insiders have sold more of their company’s stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $652,562.00 in company stock. Only 6.80% of the stock of Pure Storage is held by insiders. 85.67% of the stock of Pure Storage is held by institutions. High institutional ownership can be a signal of strong market trust in this company.
Earnings and Valuation of Pure Storage (NYSE:PSTG
Earnings for Pure Storage are expected to grow in the coming year, from ($0.57) to ($0.33) per share. The P/E ratio of Pure Storage is -17.80, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings. The P/E ratio of Pure Storage is -17.80, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings. Pure Storage has a P/B Ratio of 6.64. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.
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