Pure Storage (PSTG) to Release Earnings on Wednesday

Pure Storage (NYSE:PSTG) is projected to post its quarterly earnings results after the market closes on Wednesday, February 26th. Analysts expect Pure Storage to post earnings of $0.43 per share and revenue of $868.66 million for the quarter. Individual interested in participating in the company’s earnings conference call can do so using this link.

Pure Storage Trading Up 1.6 %

NYSE PSTG opened at $68.85 on Wednesday. The business’s 50-day moving average price is $65.81 and its 200 day moving average price is $57.76. Pure Storage has a twelve month low of $38.78 and a twelve month high of $73.67. The company has a market capitalization of $22.46 billion, a PE ratio of 181.20, a price-to-earnings-growth ratio of 5.26 and a beta of 1.09.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Needham & Company LLC increased their target price on Pure Storage from $62.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. UBS Group increased their target price on Pure Storage from $45.00 to $47.00 and gave the stock a “sell” rating in a research report on Wednesday, December 4th. Northland Securities restated a “market perform” rating and set a $63.00 price target (up from $59.00) on shares of Pure Storage in a research note on Wednesday, December 4th. Piper Sandler upgraded Pure Storage from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $56.00 to $76.00 in a research note on Wednesday, December 4th. Finally, Barclays upped their price target on Pure Storage from $56.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $72.70.

Insider Activity

In other news, CAO Mona Chu sold 8,311 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $62.16, for a total transaction of $516,611.76. Following the completion of the sale, the chief accounting officer now directly owns 67,681 shares in the company, valued at $4,207,050.96. This trade represents a 10.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $65.55, for a total value of $6,555,000.00. Following the sale, the insider now owns 7,316,722 shares of the company’s stock, valued at $479,611,127.10. This represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 137,178 shares of company stock worth $8,871,746 over the last ninety days. Corporate insiders own 6.00% of the company’s stock.

Pure Storage Company Profile

Pure Storage, Inc engages in the provision of data storage and management technologies, products, and services in the United States and internationally. Its Purity software is shared across its products and provides enterprise-class data services, such as always-on data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object.