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Pure Storage (PSTG) Declines More Than Market: Some Information for Investors
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In the latest close session, Pure Storage (PSTG - Free Report) was down 4.54% at $89.37. This move lagged the S&P 500's daily loss of 2.71%. Meanwhile, the Dow experienced a drop of 1.9%, and the technology-dominated Nasdaq saw a decrease of 3.56%.
The data storage company's shares have seen an increase of 13.53% over the last month, surpassing the Computer and Technology sector's gain of 6.22% and the S&P 500's gain of 3.5%.
The investment community will be closely monitoring the performance of Pure Storage in its forthcoming earnings report. The company is forecasted to report an EPS of $0.59, showcasing a 18% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $956.67 million, up 15.11% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.97 per share and revenue of $3.62 billion, indicating changes of +16.57% and +14.13%, respectively, compared to the previous year.
Investors should also pay attention to any latest changes in analyst estimates for Pure Storage. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.59% upward. Pure Storage is currently a Zacks Rank #3 (Hold).
Digging into valuation, Pure Storage currently has a Forward P/E ratio of 47.63. Its industry sports an average Forward P/E of 18.09, so one might conclude that Pure Storage is trading at a premium comparatively.
Investors should also note that PSTG has a PEG ratio of 2.83 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. The Computer- Storage Devices industry had an average PEG ratio of 2.11 as trading concluded yesterday.
The Computer- Storage Devices industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 97, putting it in the top 40% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Pure Storage (PSTG) Declines More Than Market: Some Information for Investors
In the latest close session, Pure Storage (PSTG - Free Report) was down 4.54% at $89.37. This move lagged the S&P 500's daily loss of 2.71%. Meanwhile, the Dow experienced a drop of 1.9%, and the technology-dominated Nasdaq saw a decrease of 3.56%.
The data storage company's shares have seen an increase of 13.53% over the last month, surpassing the Computer and Technology sector's gain of 6.22% and the S&P 500's gain of 3.5%.
The investment community will be closely monitoring the performance of Pure Storage in its forthcoming earnings report. The company is forecasted to report an EPS of $0.59, showcasing a 18% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $956.67 million, up 15.11% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.97 per share and revenue of $3.62 billion, indicating changes of +16.57% and +14.13%, respectively, compared to the previous year.
Investors should also pay attention to any latest changes in analyst estimates for Pure Storage. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.59% upward. Pure Storage is currently a Zacks Rank #3 (Hold).
Digging into valuation, Pure Storage currently has a Forward P/E ratio of 47.63. Its industry sports an average Forward P/E of 18.09, so one might conclude that Pure Storage is trading at a premium comparatively.
Investors should also note that PSTG has a PEG ratio of 2.83 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. The Computer- Storage Devices industry had an average PEG ratio of 2.11 as trading concluded yesterday.
The Computer- Storage Devices industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 97, putting it in the top 40% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.