Pure Storage (PSTG) Set to Announce Quarterly Earnings on Tuesday

Pure Storage (NYSE:PSTG) will issue its quarterly earnings data after the market closes on Tuesday, December 3rd. Analysts expect the company to announce earnings of $0.43 per share for the quarter. Parties that are interested in participating in the company’s conference call can do so using this link.

Pure Storage Stock Up 0.2 %

Shares of PSTG opened at $52.99 on Monday. The stock has a market capitalization of $17.36 billion, a price-to-earnings ratio of 132.48, a price-to-earnings-growth ratio of 7.19 and a beta of 1.10. Pure Storage has a 1 year low of $31.00 and a 1 year high of $70.41. The business’s 50 day simple moving average is $52.06 and its 200-day simple moving average is $56.80. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.99 and a quick ratio of 1.96.

Insider Buying and Selling at Pure Storage

In other news, CAO Mona Chu sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $50.32, for a total value of $1,258,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 96,639 shares in the company, valued at $4,862,874.48. This trade represents a 20.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $57.32, for a total value of $5,732,000.00. Following the completion of the transaction, the insider now owns 300,000 shares of the company’s stock, valued at approximately $17,196,000. The trade was a 25.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 354,542 shares of company stock worth $18,599,030. 6.00% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on PSTG. Northland Securities restated a “market perform” rating and set a $59.00 price target (down previously from $68.00) on shares of Pure Storage in a report on Thursday, August 29th. William Blair restated an “outperform” rating on shares of Pure Storage in a report on Thursday, November 14th. Piper Sandler decreased their price target on Pure Storage from $60.00 to $56.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. Raymond James decreased their price target on Pure Storage from $73.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, August 29th. Finally, Guggenheim upped their price objective on Pure Storage from $72.00 to $93.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, Pure Storage presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.95.

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.