Pure Storage Inc (PSTG) Expected to Announce Quarterly Sales of $176.37 Million

26 Mai, 2017, 05:59 | Author: Claudine Rigal
  • Pure Storage Inc (PSTG) Expected to Announce Quarterly Sales of $176.37 Million

Pure Storage Inc (NYSE:PSTG)'s stock had its "buy" rating reiterated by equities researchers at BMO Capital Markets in a research report issued on Thursday. A significant increase in trading volume means that more than double the average amount of stocks are moving.

Analysts are speculating a 85.01% move, based on the high target price ($20) for the shares that is set to reach in the next 12 months. The firm is expected to report its next quarterly earnings report after the market closes on Wednesday, May 24th. The stock has dropped -23.38% from its peak and the consensus price target for the stock is $14.60 a share. More interesting news about Pure Storage Inc (NYSE:PSTG) was released by: Streetinsider.com and their article: "Pure Storage, Inc". Finally, William Blair restated a "buy" rating on shares of Pure Storage in a report on Friday, April 14th. Nine investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company's stock. IBC maintained Pure Storage Inc (NYSE:PSTG) on Wednesday, April 5 with "Buy" rating.

Analysts had, on average, been modeling $1.44 billion and 82 cents per share. The company's shares traded on stronger-than-usual volume today: $3.8M shares changed hands while the stock's average volume is 1.71M shares per day.

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Historically, if we have a peek at price target revisions, Pure Storage Inc (NYSE:PSTG)'s price target was revised by the analysts two weeks back on 04/24/17 to set its target price at $15.68 where its twelve month high target price was set at $21 and low at $10 while demonstrating the standard deviation of 3.05. The technology company reported ($0.14) earnings per share (EPS) for the quarter, topping the Thomson Reuters' consensus estimate of ($0.22) by $0.08. Pure Storage Inc (NYSE:PSTG) has a Return on Assets of -28.20%, which is key indicator of how profitable a company is relative to its total assets. During the same quarter in the prior year, the business earned ($0.12) earnings per share. The firm's quarterly revenue was up 30.5% on a year-over-year basis. Schwab Charles Investment Management Inc. raised its stake in Pure Storage Inc (NYSE:PSTG) by 2.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. If you are viewing this story on another publication, it was copied illegally and republished in violation of USA & worldwide trademark and copyright legislation.

Pure Storage, Inc. provides a data platform. Point72 Asia Hong Kong Ltd now owns 13,815 shares of the technology company's stock valued at $136,000 after buying an additional 3,557 shares during the period. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Timothy Riitters sold 3,416 shares of the company's stock in a transaction that occurred on Tuesday, March 21st. The stock was sold at an average price of $10.30, for a total value of $35,184.80. Following the sale, the chief financial officer now owns 15,004 shares in the company, valued at $154,541.20.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. Pacad Investment Ltd. raised its position in Pure Storage by 24.8% in the fourth quarter. The stock price recently experienced a 5-day loss of -7.37% with 0.42 average true range (ATR). Point72 Asia Hong Kong Ltd boosted its position in shares of Pure Storage by 34.7% in the first quarter. While in the same Quarter Previous year, the Actual EPS was $-0.16. Hedge funds and other institutional investors own 49.00% of the company's stock.

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