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Pure Storage (PSTG) closed the latest trading day at $56.04, indicating a +1.16% change from the previous session's end. The stock's change was more than the S&P 500's daily loss of 0.04%.
Coming into today, shares of the data storage company had gained 29.68% in the past month. In that same time, the Computer and Technology sector gained 20.6%, while the S&P 500 gained 13.42%.
Market participants will be closely following the financial results of Pure Storage in its upcoming release. The company plans to announce its earnings on May 28, 2025. The company's upcoming EPS is projected at $0.25, signifying a 21.88% drop compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $771.15 million, up 11.2% from the year-ago period.
PSTG's full-year Zacks Consensus Estimates are calling for earnings of $1.72 per share and revenue of $3.51 billion. These results would represent year-over-year changes of +1.78% and +10.86%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for Pure Storage. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Pure Storage is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Pure Storage is presently being traded at a Forward P/E ratio of 32.19. This expresses a premium compared to the average Forward P/E of 12.86 of its industry.
One should further note that PSTG currently holds a PEG ratio of 1.92. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. By the end of yesterday's trading, the Computer- Storage Devices industry had an average PEG ratio of 1.92.