In its upcoming report, Pure Storage (PSTG) is predicted by Wall Street analysts to post quarterly earnings of $0.43 per share, reflecting a decline of 14% compared to the same period last year. Revenues are forecasted to be $869.92 million, representing a year-over-year increase of 10.1%.
The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
Given this perspective, it's time to examine the average forecasts of specific Pure Storage metrics that are routinely monitored and predicted by Wall Street analysts.
Analysts expect 'Revenue- Product' to come in at $475.61 million. The estimate suggests a change of +3.2% year over year.
The average prediction of analysts places 'Revenue- Subscription services' at $394.32 million. The estimate indicates a change of +19.9% from the prior-year quarter.
The collective assessment of analysts points to an estimated 'Geographic Revenue- Rest of the world' of $252.91 million. The estimate indicates a year-over-year change of -5.5%.
The consensus among analysts is that 'Non-GAAP Gross profit- Subscription services' will reach $302.13 million. Compared to the present estimate, the company reported $243.78 million in the same quarter last year.
Analysts predict that the 'Non-GAAP Gross profit- Product' will reach $315.58 million. The estimate compares to the year-ago value of $338.20 million.
View all Key Company Metrics for Pure Storage here>>>
Over the past month, shares of Pure Storage have returned -6.3% versus the Zacks S&P 500 composite's +2.2% change. Currently, PSTG carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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Pure Storage, Inc. (PSTG) : Free Stock Analysis Report
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