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Pure Storage (PSTG) Outperforms Broader Market: What You Need to Know
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Pure Storage (PSTG - Free Report) ended the recent trading session at $50.95, demonstrating a +1.8% swing from the preceding day's closing price. The stock exceeded the S&P 500, which registered a gain of 0.41% for the day. Meanwhile, the Dow experienced a rise of 0.69%, and the technology-dominated Nasdaq saw an increase of 0.8%.
The data storage company's shares have seen an increase of 0.58% over the last month, surpassing the Computer and Technology sector's loss of 0.01% and the S&P 500's loss of 0.97%.
Analysts and investors alike will be keeping a close eye on the performance of Pure Storage in its upcoming earnings disclosure. In that report, analysts expect Pure Storage to post earnings of $0.43 per share. This would mark a year-over-year decline of 14%. Our most recent consensus estimate is calling for quarterly revenue of $814.63 million, up 6.79% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $1.66 per share and a revenue of $3.13 billion, representing changes of +16.9% and +10.45%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Pure Storage. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Right now, Pure Storage possesses a Zacks Rank of #4 (Sell).
Looking at valuation, Pure Storage is presently trading at a Forward P/E ratio of 30.24. For comparison, its industry has an average Forward P/E of 14.4, which means Pure Storage is trading at a premium to the group.
One should further note that PSTG currently holds a PEG ratio of 2.03. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. By the end of yesterday's trading, the Computer- Storage Devices industry had an average PEG ratio of 2.03.
The Computer- Storage Devices industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 39, positioning it in the top 16% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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 follow all of these stock-moving metrics, and many more, on Zacks.com.
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Pure Storage (PSTG) Outperforms Broader Market: What You Need to Know
Pure Storage (PSTG - Free Report) ended the recent trading session at $50.95, demonstrating a +1.8% swing from the preceding day's closing price. The stock exceeded the S&P 500, which registered a gain of 0.41% for the day. Meanwhile, the Dow experienced a rise of 0.69%, and the technology-dominated Nasdaq saw an increase of 0.8%.
The data storage company's shares have seen an increase of 0.58% over the last month, surpassing the Computer and Technology sector's loss of 0.01% and the S&P 500's loss of 0.97%.
Analysts and investors alike will be keeping a close eye on the performance of Pure Storage in its upcoming earnings disclosure. In that report, analysts expect Pure Storage to post earnings of $0.43 per share. This would mark a year-over-year decline of 14%. Our most recent consensus estimate is calling for quarterly revenue of $814.63 million, up 6.79% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $1.66 per share and a revenue of $3.13 billion, representing changes of +16.9% and +10.45%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Pure Storage. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Right now, Pure Storage possesses a Zacks Rank of #4 (Sell).
Looking at valuation, Pure Storage is presently trading at a Forward P/E ratio of 30.24. For comparison, its industry has an average Forward P/E of 14.4, which means Pure Storage is trading at a premium to the group.
One should further note that PSTG currently holds a PEG ratio of 2.03. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. By the end of yesterday's trading, the Computer- Storage Devices industry had an average PEG ratio of 2.03.
The Computer- Storage Devices industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 39, positioning it in the top 16% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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 follow all of these stock-moving metrics, and many more, on Zacks.com.