Pure Storage (PSTG) to Release Earnings on Wednesday

Pure Storage (NYSE:PSTG) is projected to announce its earnings results after the market closes on Wednesday, February 26th. Analysts expect the company to announce earnings of $0.43 per share and revenue of $868.94 million for the quarter. Investors interested in listening to the company’s conference call can do so using this link.

Pure Storage Trading Down 1.8 %

Shares of NYSE PSTG opened at $63.89 on Tuesday. The firm has a market capitalization of $20.84 billion, a PE ratio of 168.12, a price-to-earnings-growth ratio of 5.12 and a beta of 1.09. Pure Storage has a 1 year low of $40.79 and a 1 year high of $73.67. The firm’s 50-day moving average is $66.18 and its 200-day moving average is $58.22.

Insider Activity

In other news, CAO Mona Chu sold 8,311 shares of Pure Storage stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $62.16, for a total value of $516,611.76. Following the sale, the chief accounting officer now directly owns 67,681 shares in the company, valued at $4,207,050.96. This trade represents a 10.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $65.55, for a total transaction of $6,555,000.00. Following the completion of the sale, the insider now owns 7,316,722 shares in the company, valued at $479,611,127.10. This trade represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 137,178 shares of company stock worth $8,871,746 over the last ninety days. Insiders own 6.00% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on PSTG shares. Evercore ISI raised their target price on shares of Pure Storage from $70.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Northland Securities reiterated a “market perform” rating and issued a $63.00 price target (up from $59.00) on shares of Pure Storage in a research report on Wednesday, December 4th. Oppenheimer started coverage on shares of Pure Storage in a research report on Wednesday, November 13th. They issued an “outperform” rating and a $70.00 price target on the stock. Morgan Stanley increased their price target on shares of Pure Storage from $62.00 to $72.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 17th. Finally, Barclays increased their price target on shares of Pure Storage from $56.00 to $61.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $72.95.

Pure Storage Company Profile

Pure Storage, Inc engages in the provision of data storage and management technologies, products, and services in the United States and internationally. Its Purity software is shared across its products and provides enterprise-class data services, such as always-on data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object.