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What Analyst Projections for Key Metrics Reveal About Pure Storage (PSTG) Q2 Earnings
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The upcoming report from Pure Storage (PSTG - Free Report) is expected to reveal quarterly earnings of $0.38 per share, indicating an increase of 11.8% compared to the year-ago period. Analysts forecast revenues of $756.59 million, representing an increase of 9.9% year over year.
The consensus EPS estimate for the quarter has undergone a downward revision of 4.9% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
Given this perspective, it's time to examine the average forecasts of specific Pure Storage metrics that are routinely monitored and predicted by Wall Street analysts.
It is projected by analysts that the 'Revenue- Product' will reach $401.79 million. The estimate indicates a change of +0.5% from the prior-year quarter.
The consensus among analysts is that 'Revenue- Subscription services' will reach $354.80 million. The estimate points to a change of +22.8% from the year-ago quarter.
The average prediction of analysts places 'Geographic Revenue- Rest of the world' at $216.47 million. The estimate suggests a change of +17.2% year over year.
Analysts expect 'Non-GAAP Gross profit- Subscription services' to come in at $262.34 million. Compared to the current estimate, the company reported $215.21 million in the same quarter of the previous year.
The collective assessment of analysts points to an estimated 'Non-GAAP Gross profit- Product' of $288.77 million. The estimate compares to the year-ago value of $285.93 million.
Shares of Pure Storage have experienced a change of +5.7% in the past month compared to the +1.5% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), PSTG is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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What Analyst Projections for Key Metrics Reveal About Pure Storage (PSTG) Q2 Earnings
The upcoming report from Pure Storage (PSTG - Free Report) is expected to reveal quarterly earnings of $0.38 per share, indicating an increase of 11.8% compared to the year-ago period. Analysts forecast revenues of $756.59 million, representing an increase of 9.9% year over year.
The consensus EPS estimate for the quarter has undergone a downward revision of 4.9% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
Given this perspective, it's time to examine the average forecasts of specific Pure Storage metrics that are routinely monitored and predicted by Wall Street analysts.
It is projected by analysts that the 'Revenue- Product' will reach $401.79 million. The estimate indicates a change of +0.5% from the prior-year quarter.
The consensus among analysts is that 'Revenue- Subscription services' will reach $354.80 million. The estimate points to a change of +22.8% from the year-ago quarter.
The average prediction of analysts places 'Geographic Revenue- Rest of the world' at $216.47 million. The estimate suggests a change of +17.2% year over year.
Analysts expect 'Non-GAAP Gross profit- Subscription services' to come in at $262.34 million. Compared to the current estimate, the company reported $215.21 million in the same quarter of the previous year.
The collective assessment of analysts points to an estimated 'Non-GAAP Gross profit- Product' of $288.77 million. The estimate compares to the year-ago value of $285.93 million.
View all Key Company Metrics for Pure Storage here>>>
Shares of Pure Storage have experienced a change of +5.7% in the past month compared to the +1.5% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), PSTG is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>