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Gear Up for Pure Storage (PSTG) Q3 Earnings: Wall Street Estimates for Key Metrics
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Analysts on Wall Street project that Pure Storage (PSTG - Free Report) will announce quarterly earnings of $0.43 per share in its forthcoming report, representing a decline of 14% year over year. Revenues are projected to reach $814.77 million, increasing 6.8% from the same quarter last year.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 1.5% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
That said, let's delve into the average estimates of some Pure Storage metrics that Wall Street analysts commonly model and monitor.
The consensus estimate for 'Revenue- Product' stands at $439.56 million. The estimate indicates a year-over-year change of -3%.
The consensus among analysts is that 'Revenue- Subscription services' will reach $375.38 million. The estimate suggests a change of +21.3% year over year.
Analysts forecast 'Geographic Revenue- Rest of the world' to reach $235.14 million. The estimate indicates a year-over-year change of +3.4%.
The average prediction of analysts places 'Non-GAAP Gross profit- Subscription services' at $281.61 million. Compared to the current estimate, the company reported $233.42 million in the same quarter of the previous year.
The collective assessment of analysts points to an estimated 'Non-GAAP Gross profit- Product' of $304.21 million. The estimate is in contrast to the year-ago figure of $331.33 million.
Over the past month, Pure Storage shares have recorded returns of -0.9% versus the Zacks S&P 500 composite's +3.8% change. Based on its Zacks Rank #3 (Hold), PSTG will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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Gear Up for Pure Storage (PSTG) Q3 Earnings: Wall Street Estimates for Key Metrics
Analysts on Wall Street project that Pure Storage (PSTG - Free Report) will announce quarterly earnings of $0.43 per share in its forthcoming report, representing a decline of 14% year over year. Revenues are projected to reach $814.77 million, increasing 6.8% from the same quarter last year.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 1.5% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
That said, let's delve into the average estimates of some Pure Storage metrics that Wall Street analysts commonly model and monitor.
The consensus estimate for 'Revenue- Product' stands at $439.56 million. The estimate indicates a year-over-year change of -3%.
The consensus among analysts is that 'Revenue- Subscription services' will reach $375.38 million. The estimate suggests a change of +21.3% year over year.
Analysts forecast 'Geographic Revenue- Rest of the world' to reach $235.14 million. The estimate indicates a year-over-year change of +3.4%.
The average prediction of analysts places 'Non-GAAP Gross profit- Subscription services' at $281.61 million. Compared to the current estimate, the company reported $233.42 million in the same quarter of the previous year.
The collective assessment of analysts points to an estimated 'Non-GAAP Gross profit- Product' of $304.21 million. The estimate is in contrast to the year-ago figure of $331.33 million.
View all Key Company Metrics for Pure Storage here>>>
Over the past month, Pure Storage shares have recorded returns of -0.9% versus the Zacks S&P 500 composite's +3.8% change. Based on its Zacks Rank #3 (Hold), PSTG will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>