Pure Storage (PSTG) ended the recent trading session at $67.25, demonstrating a -0.1% swing from the preceding day's closing price. The stock exceeded the S&P 500, which registered a loss of 0.27% for the day. Elsewhere, the Dow lost 0.51%, while the tech-heavy Nasdaq added 0.03%.
Shares of the data storage company witnessed a gain of 6.43% over the previous month, beating the performance of the Computer and Technology sector with its gain of 1.69% and the S&P 500's gain of 4.27%.
Investors will be eagerly watching for the performance of Pure Storage in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on February 26, 2025. The company's earnings per share (EPS) are projected to be $0.43, reflecting a 14% decrease from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $869.92 million, up 10.14% from the year-ago period.
Investors should also pay attention to any latest changes in analyst estimates for Pure Storage. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 2.42% upward. Currently, Pure Storage is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, Pure Storage is presently being traded at a Forward P/E ratio of 35.12. This indicates a premium in contrast to its industry's Forward P/E of 14.09.
Investors should also note that PSTG has a PEG ratio of 1.87 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Computer- Storage Devices industry held an average PEG ratio of 1.87.
The Computer- Storage Devices industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 37, finds itself in the top 15% echelons 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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