Pure Storage (NYSE:PSTG) Issues Earnings Results

Pure Storage (NYSE:PSTG) issued its quarterly earnings results on Monday. The technology company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.10, MarketWatch Earnings reports. Pure Storage had a negative return on equity of 22.19% and a negative net margin of 14.04%. The firm had revenue of $562.74 million for the quarter, compared to analyst estimates of $530.66 million. During the same period last year, the company earned ($0.22) EPS. The firm’s quarterly revenue was up 37.1% on a year-over-year basis.

PSTG stock opened at $27.28 on Wednesday. The company has a quick ratio of 2.40, a current ratio of 2.46 and a debt-to-equity ratio of 1.10. Pure Storage has a 52-week low of $16.79 and a 52-week high of $29.53. The stock’s 50 day moving average is $26.70 and its two-hundred day moving average is $22.51. The company has a market capitalization of $7.78 billion, a PE ratio of -29.33 and a beta of 1.39.

PSTG has been the topic of a number of research analyst reports. TheStreet raised Pure Storage from a “d+” rating to a “c-” rating in a research note on Wednesday, August 25th. Lake Street Capital lifted their price objective on Pure Storage from $31.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday. Susquehanna reaffirmed a “buy” rating and issued a $33.00 price objective on shares of Pure Storage in a research note on Wednesday, September 29th. Credit Suisse Group lifted their price objective on Pure Storage from $21.00 to $23.00 and gave the company a “neutral” rating in a research note on Thursday, August 26th. Finally, KeyCorp lifted their price objective on Pure Storage from $30.00 to $34.00 and gave the company an “overweight” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Pure Storage currently has an average rating of “Buy” and a consensus price target of $31.11.

In other Pure Storage news, Director Anita M. Sands sold 74,157 shares of Pure Storage stock in a transaction that occurred on Friday, September 10th. The stock was sold at an average price of $26.79, for a total transaction of $1,986,666.03. Following the sale, the director now directly owns 100,976 shares in the company, valued at approximately $2,705,147.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 6.80% of the stock is owned by insiders.

About Pure Storage

Pure Storage, Inc engages in the provision of flash-based storage solutions. Its technology replaces storage systems designed for mechanical disk with all-flash systems optimized end-to-end for solid-state memory. The company was founded by John Hayes and John Colgrove in October 2009 and is headquartered in Mountain View, CA.

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Earnings History for Pure Storage (NYSE:PSTG)

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