Pure Storage(US:PSTG) ZACKS·2024-07-12 23:06Company Performance - Pure Storage's earnings per share (EPS) are projected to be $0.38, reflecting an 11.76% increase from the same quarter last year [1] - The consensus estimate projects revenue of $756.73 million, indicating a 9.88% rise from the equivalent quarter last year [1] - For the entire fiscal year, earnings are projected at $1.64 per share and revenue at $3.13 billion, representing changes of +15.49% and +10.63% respectively from the prior year [5] Valuation Metrics - Pure Storage currently has a PEG ratio of 1.9, compared to the industry average PEG ratio of 1.58 [2] - The company is trading with a Forward P/E ratio of 39.85, while the industry average Forward P/E is 19.18, indicating that Pure Storage is trading at a premium [10] Industry Context - The Computer-Storage Devices industry has a Zacks Industry Rank of 176, placing it in the bottom 31% of over 250 industries [3] - The Zacks Rank system indicates that the top 50% rated industries outperform the bottom half by a factor of 2 to 1 [3] Stock Performance - Pure Storage's stock closed at $65.20, reflecting a -0.17% shift from the previous trading day's closing [6] - The stock has dropped by 4.38% in the past month, underperforming the Computer and Technology sector's gain of 5.73% and the S&P 500's gain of 4.28% [6] Analyst Estimates - Recent modifications to analyst estimates for Pure Storage are important as they reflect evolving short-term business trends [7] - The Zacks Consensus EPS estimate has remained steady over the past month, and Pure Storage currently holds a Zacks Rank of 3 (Hold) [9]