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Pure Storage (PSTG) Gains As Market Dips: What You Should Know
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Pure Storage (PSTG - Free Report) ended the recent trading session at $65.42, demonstrating a +1.08% swing from the preceding day's closing price. The stock outpaced the S&P 500's daily loss of 0.21%. Elsewhere, the Dow lost 0.16%, while the tech-heavy Nasdaq lost 0.89%.
The data storage company's stock has climbed by 3.4% in the past month, exceeding the Computer and Technology sector's loss of 2.15% and the S&P 500's loss of 1.56%.
Analysts and investors alike will be keeping a close eye on the performance of Pure Storage in its upcoming earnings disclosure. The company is expected to report EPS of $0.43, down 14% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $869.92 million, reflecting a 10.14% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $1.68 per share and a revenue of $3.16 billion, demonstrating changes of +18.31% and +11.57%, respectively, from the preceding year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Pure Storage. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 past month, the Zacks Consensus EPS estimate has moved 0.05% higher. Right now, Pure Storage possesses a Zacks Rank of #3 (Hold).
Digging into valuation, Pure Storage currently has a Forward P/E ratio of 38.5. This expresses a premium compared to the average Forward P/E of 13.23 of its industry.
Investors should also note that PSTG has a PEG ratio of 2.05 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Computer- Storage Devices was holding an average PEG ratio of 2.05 at yesterday's closing price.
The Computer- Storage Devices industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 233, this industry ranks in the bottom 8% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Pure Storage (PSTG) Gains As Market Dips: What You Should Know
Pure Storage (PSTG - Free Report) ended the recent trading session at $65.42, demonstrating a +1.08% swing from the preceding day's closing price. The stock outpaced the S&P 500's daily loss of 0.21%. Elsewhere, the Dow lost 0.16%, while the tech-heavy Nasdaq lost 0.89%.
The data storage company's stock has climbed by 3.4% in the past month, exceeding the Computer and Technology sector's loss of 2.15% and the S&P 500's loss of 1.56%.
Analysts and investors alike will be keeping a close eye on the performance of Pure Storage in its upcoming earnings disclosure. The company is expected to report EPS of $0.43, down 14% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $869.92 million, reflecting a 10.14% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $1.68 per share and a revenue of $3.16 billion, demonstrating changes of +18.31% and +11.57%, respectively, from the preceding year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Pure Storage. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 past month, the Zacks Consensus EPS estimate has moved 0.05% higher. Right now, Pure Storage possesses a Zacks Rank of #3 (Hold).
Digging into valuation, Pure Storage currently has a Forward P/E ratio of 38.5. This expresses a premium compared to the average Forward P/E of 13.23 of its industry.
Investors should also note that PSTG has a PEG ratio of 2.05 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Computer- Storage Devices was holding an average PEG ratio of 2.05 at yesterday's closing price.
The Computer- Storage Devices industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 233, this industry ranks in the bottom 8% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.