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Pure Storage (PSTG) Rises As Market Takes a Dip: Key Facts
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In the latest trading session, Pure Storage (PSTG - Free Report) closed at $58.12, marking a +1.52% move from the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.01%. Elsewhere, the Dow lost 0.32%, while the tech-heavy Nasdaq added 0.05%.
The data storage company's stock has climbed by 8.28% in the past month, exceeding the Computer and Technology sector's gain of 7.44% and the S&P 500's gain of 5.37%.
The investment community will be closely monitoring the performance of Pure Storage in its forthcoming earnings report. In that report, analysts expect Pure Storage to post earnings of $0.4 per share. This would mark a year-over-year decline of 9.09%. Simultaneously, our latest consensus estimate expects the revenue to be $845.76 million, showing a 10.74% escalation compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $1.82 per share and revenue of $3.52 billion. These totals would mark changes of +7.69% and +11.01%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Pure Storage. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.59% higher. Pure Storage is holding a Zacks Rank of #3 (Hold) right now.
From a valuation perspective, Pure Storage is currently exchanging hands at a Forward P/E ratio of 31.47. This signifies a premium in comparison to the average Forward P/E of 13.88 for its industry.
Investors should also note that PSTG has a PEG ratio of 1.69 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. PSTG's industry had an average PEG ratio of 2 as of yesterday's close.
The Computer- Storage Devices industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 11, which puts it in the top 5% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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) Rises As Market Takes a Dip: Key Facts
In the latest trading session, Pure Storage (PSTG - Free Report) closed at $58.12, marking a +1.52% move from the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.01%. Elsewhere, the Dow lost 0.32%, while the tech-heavy Nasdaq added 0.05%.
The data storage company's stock has climbed by 8.28% in the past month, exceeding the Computer and Technology sector's gain of 7.44% and the S&P 500's gain of 5.37%.
The investment community will be closely monitoring the performance of Pure Storage in its forthcoming earnings report. In that report, analysts expect Pure Storage to post earnings of $0.4 per share. This would mark a year-over-year decline of 9.09%. Simultaneously, our latest consensus estimate expects the revenue to be $845.76 million, showing a 10.74% escalation compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $1.82 per share and revenue of $3.52 billion. These totals would mark changes of +7.69% and +11.01%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Pure Storage. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.59% higher. Pure Storage is holding a Zacks Rank of #3 (Hold) right now.
From a valuation perspective, Pure Storage is currently exchanging hands at a Forward P/E ratio of 31.47. This signifies a premium in comparison to the average Forward P/E of 13.88 for its industry.
Investors should also note that PSTG has a PEG ratio of 1.69 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. PSTG's industry had an average PEG ratio of 2 as of yesterday's close.
The Computer- Storage Devices industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 11, which puts it in the top 5% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.