Pure Storage (PSTG) to Release Quarterly Earnings on Wednesday

Pure Storage (NYSE:PSTGGet Rating) is scheduled to be issuing its quarterly earnings data after the market closes on Wednesday, June 1st. Analysts expect the company to announce earnings of ($0.23) per share for the quarter. Pure Storage has set its Q1 2023 guidance at EPS and its FY 2023 guidance at EPS.Investors that are interested in registering for the company’s conference call can do so using this link.

Pure Storage (NYSE:PSTGGet Rating) last released its quarterly earnings results on Wednesday, March 2nd. The technology company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.15. Pure Storage had a negative return on equity of 4.90% and a negative net margin of 6.57%. The business had revenue of $708.57 million for the quarter, compared to analysts’ expectations of $630.93 million. During the same quarter in the prior year, the firm posted ($0.09) EPS. The company’s revenue was up 40.9% compared to the same quarter last year. On average, analysts expect Pure Storage to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Shares of Pure Storage stock opened at $22.33 on Wednesday. The company has a quick ratio of 2.26, a current ratio of 2.30 and a debt-to-equity ratio of 1.04. The firm has a market cap of $6.67 billion, a PE ratio of -43.78 and a beta of 1.51. The business’s fifty day moving average is $30.48 and its two-hundred day moving average is $29.60. Pure Storage has a fifty-two week low of $17.40 and a fifty-two week high of $36.71.

PSTG has been the subject of several recent analyst reports. Wells Fargo & Company raised their target price on Pure Storage from $37.00 to $40.00 and gave the company an “overweight” rating in a research note on Thursday, March 3rd. William Blair reissued an “outperform” rating on shares of Pure Storage in a report on Thursday, March 3rd. StockNews.com started coverage on shares of Pure Storage in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Barclays raised their target price on shares of Pure Storage from $35.00 to $39.00 and gave the stock an “overweight” rating in a report on Thursday, March 3rd. Finally, The Goldman Sachs Group raised their target price on shares of Pure Storage from $34.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, March 3rd. Six analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $36.40.

In other Pure Storage news, Director Andrew William Fraser Brown sold 11,564 shares of Pure Storage stock in a transaction on Monday, March 21st. The shares were sold at an average price of $35.20, for a total transaction of $407,052.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ajay Singh sold 36,338 shares of Pure Storage stock in a transaction on Wednesday, March 23rd. The shares were sold at an average price of $34.39, for a total transaction of $1,249,663.82. The disclosure for this sale can be found here. Insiders own 6.80% of the company’s stock.

Several large investors have recently modified their holdings of PSTG. Neuberger Berman Group LLC acquired a new stake in shares of Pure Storage in the 1st quarter valued at $3,090,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Pure Storage in the 1st quarter valued at $1,069,000. Walleye Capital LLC lifted its stake in shares of Pure Storage by 21.5% in the 1st quarter. Walleye Capital LLC now owns 63,266 shares of the technology company’s stock valued at $2,234,000 after purchasing an additional 11,208 shares during the last quarter. Weiss Multi Strategy Advisers LLC lifted its stake in shares of Pure Storage by 2.5% in the 1st quarter. Weiss Multi Strategy Advisers LLC now owns 463,886 shares of the technology company’s stock valued at $16,380,000 after purchasing an additional 11,103 shares during the last quarter. Finally, Advisors Asset Management Inc. acquired a new stake in shares of Pure Storage in the 1st quarter valued at $64,000. 80.13% of the stock is owned by institutional investors.

About Pure Storage (Get Rating)

Pure Storage, Inc provides data storage technologies, products, and services in the United States and internationally. The company's Purity software is shared across its products and provides enterprise-class data services, such as data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object.

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Earnings History for Pure Storage (NYSE:PSTG)

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