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Pure Storage, Inc. (PSTG) Expected to Post Earnings of -$0.03 Per Share

15 Novembre 2017

Now, the FactSet Research estimate calls for Q3 2017 earnings of US$-0.03. The highest EPS estimate is ($0.01) and the lowest is ($0.05). Evercore initiated Pure Storage Inc (NYSE:PSTG) rating on Monday, November 2. Pure Storage's revenue was up 37.6% on a year-over-year basis. sell-side analysts forecast that Pure Storage will post -0.97 EPS for the current year.

Pure Storage (NYSE:PSTG) last released its earnings results on Thursday, August 24th. The technology company reported ($0.11) EPS for the quarter, topping the Zacks' consensus estimate of ($0.31) by $0.20. The firm earned $197 million during the quarter, compared to analyst estimates of $192.36 million. The firm's quarterly revenue was up 37.6% compared to the same quarter previous year. (PSTG) - averaging the work of different analysts - reveals a mean PT of $17.22/share. Raymond James initiated Pure Storage Inc (NYSE:PSTG) on Monday, November 2 with "Outperform" rating. BidaskClub upgraded Pure Storage from a "sell" rating to a "hold" rating in a report on Tuesday, September 26th. KeyCorp reissued a "buy" rating on shares of Pure Storage in a report on Wednesday, November 1st. Bank of New York Mellon Corp now owns 217,941 shares of the company's stock worth $2,375,000 after buying an additional 127,444 shares in the last quarter. The average investment rating for PSTG on a scale of 1 to 5 (1 being a strong sell and 5 being a strong buy) is a 4.50 or a Moderate Buy. The company has an average rating of "Buy" and a consensus price target of $16.36.

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In other Pure Storage news, President David Hatfield sold 70,000 shares of the stock in a transaction on Wednesday, October 18th. The stock was sold at an average price of $14.56, for a total value of $72,800.00. Following the completion of the transaction, the president now directly owns 215,190 shares in the company, valued at approximately $3,154,685.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Timothy Riitters sold 5,000 shares of the stock in a transaction on Friday, September 8th. A low price-to-sales ratio, typically less than 1.0, is considered a good value. The disclosure for this sale can be found here. In the last three months, insiders sold 242,028 shares of company stock worth $3,773,235.

A number of hedge funds have recently added to or reduced their stakes in the business. Insiders own 46.58% of the company's stock. Renaissance Technologies LLC increased its stake in shares of Pure Storage by 480.2% during the first quarter. UBS Asset Management Americas Inc. now owns 26,500 shares of the technology company's stock worth $260,000 after acquiring an additional 9,100 shares during the period. Vanguard Group Inc. lifted its holdings in Pure Storage by 26.7% during the 2nd quarter. Renaissance Technologies LLC now owns 1,284,000 shares of the technology company's stock valued at $12,622,000 after buying an additional 1,062,700 shares during the period. Finally, California State Teachers Retirement System increased its position in Pure Storage by 110.1% in the second quarter. Finally, Marcus Capital LLC increased its stake in shares of Pure Storage by 57.6% during the second quarter. JPMorgan Chase & Co. now owns 69,105 shares of the technology company's stock worth $679,000 after acquiring an additional 24,817 shares during the period. The total number of shares traded in the last 90-day period is 1.26 million. Their 52-Week High and Low are noted here.

Pure Storage, Inc provides an enterprise data storage platform.