Pure Storage (PSTG) Expected to Announce Earnings on Wednesday

Pure Storage (NYSE:PSTG) is anticipated 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 that are interested in participating in the company’s conference call can do so using this link.

Pure Storage Stock Down 3.9 %

NYSE:PSTG opened at $65.14 on Monday. The company’s 50 day moving average price is $66.23 and its 200-day moving average price is $58.16. Pure Storage has a 52 week low of $40.32 and a 52 week high of $73.67. The stock has a market cap of $21.25 billion, a price-to-earnings ratio of 171.43, a PEG ratio of 5.12 and a beta of 1.09.

Insider Buying and Selling at Pure Storage

In other Pure Storage news, CRO Dan Fitzsimons sold 8,895 shares of Pure Storage stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $64.11, for a total value of $570,258.45. Following the sale, the executive now directly owns 72,927 shares in the company, valued at approximately $4,675,349.97. The trade was a 10.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ajay Singh sold 19,972 shares of Pure Storage stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $61.58, for a total transaction of $1,229,875.76. Following the completion of the transaction, the insider now directly owns 262,144 shares of the company’s stock, valued at $16,142,827.52. The trade was a 7.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 137,178 shares of company stock worth $8,871,746. Insiders own 6.00% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. TD Cowen raised their target price on shares of Pure Storage from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Piper Sandler upgraded shares of Pure Storage from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $56.00 to $76.00 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. Wells Fargo & Company increased their price target on shares of Pure Storage from $75.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Finally, Barclays increased their price target on shares of Pure Storage from $56.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 4th. One 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’s stock. Based on data from MarketBeat.com, Pure Storage has a consensus rating of “Moderate Buy” and an average target price 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.