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Pure Storage (PSTG) Registers a Bigger Fall Than the Market: Important Facts to Note
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In the latest close session, Pure Storage (PSTG - Free Report) was down 3.55% at $95.10. This move lagged the S&P 500's daily loss of 1.17%. Elsewhere, the Dow lost 0.53%, while the tech-heavy Nasdaq lost 2.04%.
Coming into today, shares of the data storage company had gained 9.16% in the past month. In that same time, the Computer and Technology sector gained 5.49%, while the S&P 500 gained 2.12%.
Investors will be eagerly watching for the performance of Pure Storage in its upcoming earnings disclosure. The company is predicted to post an EPS of $0.59, indicating a 18% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $956.49 million, indicating a 15.09% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $1.97 per share and a revenue of $3.62 billion, demonstrating changes of +16.57% and +17.56%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for Pure Storage. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been a 0.78% rise in the Zacks Consensus EPS estimate. Pure Storage presently features a Zacks Rank of #2 (Buy).
Looking at valuation, Pure Storage is presently trading at a Forward P/E ratio of 50.05. Its industry sports an average Forward P/E of 19.98, so one might conclude that Pure Storage is trading at a premium comparatively.
Meanwhile, PSTG's PEG ratio is currently 2.98. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Computer- Storage Devices industry had an average PEG ratio of 2.05 as trading concluded yesterday.
The Computer- Storage Devices industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 40, finds itself in the top 17% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Pure Storage (PSTG) Registers a Bigger Fall Than the Market: Important Facts to Note
In the latest close session, Pure Storage (PSTG - Free Report) was down 3.55% at $95.10. This move lagged the S&P 500's daily loss of 1.17%. Elsewhere, the Dow lost 0.53%, while the tech-heavy Nasdaq lost 2.04%.
Coming into today, shares of the data storage company had gained 9.16% in the past month. In that same time, the Computer and Technology sector gained 5.49%, while the S&P 500 gained 2.12%.
Investors will be eagerly watching for the performance of Pure Storage in its upcoming earnings disclosure. The company is predicted to post an EPS of $0.59, indicating a 18% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $956.49 million, indicating a 15.09% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $1.97 per share and a revenue of $3.62 billion, demonstrating changes of +16.57% and +17.56%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for Pure Storage. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been a 0.78% rise in the Zacks Consensus EPS estimate. Pure Storage presently features a Zacks Rank of #2 (Buy).
Looking at valuation, Pure Storage is presently trading at a Forward P/E ratio of 50.05. Its industry sports an average Forward P/E of 19.98, so one might conclude that Pure Storage is trading at a premium comparatively.
Meanwhile, PSTG's PEG ratio is currently 2.98. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Computer- Storage Devices industry had an average PEG ratio of 2.05 as trading concluded yesterday.
The Computer- Storage Devices industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 40, finds itself in the top 17% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.