We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Stay Ahead of the Game With Pure Storage (PSTG) Q3 Earnings: Wall Street's Insights on Key Metrics
Read MoreHide Full Article
In its upcoming report, Pure Storage (PSTG - Free Report) is predicted by Wall Street analysts to post quarterly earnings of $0.59 per share, reflecting an increase of 18% compared to the same period last year. Revenues are forecasted to be $958.14 million, representing a year-over-year increase of 15.3%.
Over the last 30 days, there has been a downward revision of 2.8% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
Bearing this in mind, let's now explore the average estimates of specific Pure Storage metrics that are commonly monitored and projected by Wall Street analysts.
The average prediction of analysts places 'Revenue- Product' at $510.23 million. The estimate points to a change of +12.2% from the year-ago quarter.
According to the collective judgment of analysts, 'Revenue- Subscription services' should come in at $447.07 million. The estimate suggests a change of +18.8% year over year.
The consensus estimate for 'Subscription Annual Recurring Revenue (ARR)' stands at $1.88 billion. Compared to the present estimate, the company reported $1.60 billion in the same quarter last year.
Analysts predict that the 'Remaining Performance Obligations (RPO)' will reach $2.82 billion. Compared to the current estimate, the company reported $2.40 billion in the same quarter of the previous year.
The consensus among analysts is that 'Non-GAAP Gross profit- Subscription services' will reach $342.56 million. The estimate compares to the year-ago value of $291.33 million.
Analysts expect 'Non-GAAP Gross profit- Product' to come in at $343.76 million. The estimate compares to the year-ago value of $306.39 million.
Pure Storage shares have witnessed a change of -12.8% in the past month, in contrast to the Zacks S&P 500 composite's -0.3% move. With a Zacks Rank #3 (Hold), PSTG is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Stay Ahead of the Game With Pure Storage (PSTG) Q3 Earnings: Wall Street's Insights on Key Metrics
In its upcoming report, Pure Storage (PSTG - Free Report) is predicted by Wall Street analysts to post quarterly earnings of $0.59 per share, reflecting an increase of 18% compared to the same period last year. Revenues are forecasted to be $958.14 million, representing a year-over-year increase of 15.3%.
Over the last 30 days, there has been a downward revision of 2.8% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
Bearing this in mind, let's now explore the average estimates of specific Pure Storage metrics that are commonly monitored and projected by Wall Street analysts.
The average prediction of analysts places 'Revenue- Product' at $510.23 million. The estimate points to a change of +12.2% from the year-ago quarter.
According to the collective judgment of analysts, 'Revenue- Subscription services' should come in at $447.07 million. The estimate suggests a change of +18.8% year over year.
The consensus estimate for 'Subscription Annual Recurring Revenue (ARR)' stands at $1.88 billion. Compared to the present estimate, the company reported $1.60 billion in the same quarter last year.
Analysts predict that the 'Remaining Performance Obligations (RPO)' will reach $2.82 billion. Compared to the current estimate, the company reported $2.40 billion in the same quarter of the previous year.
The consensus among analysts is that 'Non-GAAP Gross profit- Subscription services' will reach $342.56 million. The estimate compares to the year-ago value of $291.33 million.
Analysts expect 'Non-GAAP Gross profit- Product' to come in at $343.76 million. The estimate compares to the year-ago value of $306.39 million.
View all Key Company Metrics for Pure Storage here>>>Pure Storage shares have witnessed a change of -12.8% in the past month, in contrast to the Zacks S&P 500 composite's -0.3% move. With a Zacks Rank #3 (Hold), PSTG is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .