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Pure Storage (PSTG) Outpaces Stock Market Gains: What You Should Know
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In the latest market close, Pure Storage (PSTG - Free Report) reached $55.07, with a +1.85% movement compared to the previous day. The stock exceeded the S&P 500, which registered a gain of 0.16% for the day. On the other hand, the Dow registered a loss of 0.37%, and the technology-centric Nasdaq increased by 0.78%.
The the stock of data storage company has risen by 7.62% in the past month, leading the Computer and Technology sector's gain of 1.87% and the S&P 500's gain of 1.67%.
The investment community will be paying close attention to the earnings performance of Pure Storage in its upcoming release. The company is forecasted to report an EPS of $0.43, showcasing a 14% downward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $814.63 million, up 6.79% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $1.66 per share and revenue of $3.13 billion. These totals would mark changes of +16.9% and +10.45%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Pure Storage. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Pure Storage is currently sporting a Zacks Rank of #4 (Sell).
Investors should also note Pure Storage's current valuation metrics, including its Forward P/E ratio of 32.67. This indicates a premium in contrast to its industry's Forward P/E of 14.36.
Also, we should mention that PSTG has a PEG ratio of 2.19. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Computer- Storage Devices industry had an average PEG ratio of 2.19.
The Computer- Storage Devices industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 60, placing it within the top 24% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Pure Storage (PSTG) Outpaces Stock Market Gains: What You Should Know
In the latest market close, Pure Storage (PSTG - Free Report) reached $55.07, with a +1.85% movement compared to the previous day. The stock exceeded the S&P 500, which registered a gain of 0.16% for the day. On the other hand, the Dow registered a loss of 0.37%, and the technology-centric Nasdaq increased by 0.78%.
The the stock of data storage company has risen by 7.62% in the past month, leading the Computer and Technology sector's gain of 1.87% and the S&P 500's gain of 1.67%.
The investment community will be paying close attention to the earnings performance of Pure Storage in its upcoming release. The company is forecasted to report an EPS of $0.43, showcasing a 14% downward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $814.63 million, up 6.79% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $1.66 per share and revenue of $3.13 billion. These totals would mark changes of +16.9% and +10.45%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Pure Storage. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Pure Storage is currently sporting a Zacks Rank of #4 (Sell).
Investors should also note Pure Storage's current valuation metrics, including its Forward P/E ratio of 32.67. This indicates a premium in contrast to its industry's Forward P/E of 14.36.
Also, we should mention that PSTG has a PEG ratio of 2.19. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Computer- Storage Devices industry had an average PEG ratio of 2.19.
The Computer- Storage Devices industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 60, placing it within the top 24% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.