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Pure Storage (PSTG) Dips More Than Broader Markets: What You Should Know
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Pure Storage (PSTG - Free Report) closed at $27.04 in the latest trading session, marking a -0.95% move from the prior day. This change lagged the S&P 500's 0.65% loss on the day. Meanwhile, the Dow gained 0.12%, and the Nasdaq, a tech-heavy index, added 0.03%.
Heading into today, shares of the data storage company had lost 11.39% over the past month, outpacing the Computer and Technology sector's loss of 13.29% and lagging the S&P 500's loss of 11.07% in that time.
Wall Street will be looking for positivity from Pure Storage as it approaches its next earnings report date. The company is expected to report EPS of $0.26, up 18.18% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $671.84 million, up 19.39% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.18 per share and revenue of $2.75 billion, which would represent changes of +63.89% and +26.17%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Pure Storage. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Pure Storage currently has a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, Pure Storage is holding a Forward P/E ratio of 23.1. For comparison, its industry has an average Forward P/E of 15.54, which means Pure Storage is trading at a premium to the group.
Investors should also note that PSTG has a PEG ratio of 0.65 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Computer- Storage Devices stocks are, on average, holding a PEG ratio of 0.67 based on yesterday's closing prices.
The Computer- Storage Devices industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 30, putting it in the top 12% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Pure Storage (PSTG) Dips More Than Broader Markets: What You Should Know
Pure Storage (PSTG - Free Report) closed at $27.04 in the latest trading session, marking a -0.95% move from the prior day. This change lagged the S&P 500's 0.65% loss on the day. Meanwhile, the Dow gained 0.12%, and the Nasdaq, a tech-heavy index, added 0.03%.
Heading into today, shares of the data storage company had lost 11.39% over the past month, outpacing the Computer and Technology sector's loss of 13.29% and lagging the S&P 500's loss of 11.07% in that time.
Wall Street will be looking for positivity from Pure Storage as it approaches its next earnings report date. The company is expected to report EPS of $0.26, up 18.18% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $671.84 million, up 19.39% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.18 per share and revenue of $2.75 billion, which would represent changes of +63.89% and +26.17%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Pure Storage. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Pure Storage currently has a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, Pure Storage is holding a Forward P/E ratio of 23.1. For comparison, its industry has an average Forward P/E of 15.54, which means Pure Storage is trading at a premium to the group.
Investors should also note that PSTG has a PEG ratio of 0.65 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Computer- Storage Devices stocks are, on average, holding a PEG ratio of 0.67 based on yesterday's closing prices.
The Computer- Storage Devices industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 30, putting it in the top 12% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.