Pure Storage (PSTG) Set to Announce Quarterly Earnings on Tuesday

Pure Storage (NYSE:PSTG) will post its quarterly earnings results after the market closes on Tuesday, December 3rd. Analysts expect Pure Storage to post earnings of $0.43 per share for the quarter. Individual interested in registering for the company’s earnings conference call can do so using this link.

Pure Storage Stock Up 0.2 %

Shares of PSTG opened at $52.99 on Monday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.96 and a current ratio of 1.99. Pure Storage has a one year low of $31.00 and a one year high of $70.41. The stock has a market capitalization of $17.36 billion, a price-to-earnings ratio of 132.48, a PEG ratio of 7.19 and a beta of 1.10. The stock has a 50 day moving average price of $52.06 and a 200 day moving average price of $56.80.

Insider Buying and Selling

In other Pure Storage news, insider John Colgrove sold 100,000 shares of the company’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $57.32, for a total transaction of $5,732,000.00. Following the sale, the insider now owns 300,000 shares in the company, valued at $17,196,000. This represents a 25.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CRO Dan Fitzsimons sold 8,895 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $50.67, for a total value of $450,709.65. Following the sale, the executive now owns 94,446 shares in the company, valued at approximately $4,785,578.82. This trade represents a 8.61 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 354,542 shares of company stock valued at $18,599,030. Corporate insiders own 6.00% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the company. Evercore ISI dropped their price target on Pure Storage from $75.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, August 29th. Susquehanna reissued a “positive” rating and set a $80.00 price objective on shares of Pure Storage in a research note on Monday, August 26th. Wedbush reissued an “outperform” rating and set a $80.00 price objective on shares of Pure Storage in a research note on Monday, August 26th. UBS Group lowered their price objective on Pure Storage from $47.00 to $45.00 and set a “sell” rating on the stock in a research note on Thursday, August 29th. Finally, Lake Street Capital lowered their price objective on Pure Storage from $70.00 to $68.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $67.95.

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.