Why Pure Storage (PSTG) Could Beat Earnings Estimates Again

Core Viewpoint - Pure Storage (PSTG) is positioned well to potentially beat earnings estimates in its upcoming quarterly report, supported by a strong history of exceeding expectations [1]. Earnings Performance - Pure Storage has a solid track record of surpassing earnings estimates, with an average surprise of 30.62% over the last two quarters [2]. - In the last reported quarter, the company achieved earnings of $0.44 per share, exceeding the Zacks Consensus Estimate of $0.38 per share, resulting in a surprise of 15.79% [3]. - For the previous quarter, Pure Storage was expected to report earnings of $0.22 per share but delivered $0.32 per share, leading to a surprise of 45.45% [3]. Earnings Estimates and Predictions - Recent estimates for Pure Storage have been trending upward, indicating positive sentiment among analysts [4]. - The Zacks Earnings ESP for Pure Storage is currently +2.98%, suggesting increased bullishness regarding its near-term earnings potential [7]. - The combination of a positive Earnings ESP and a Zacks Rank of 3 (Hold) indicates a strong possibility of another earnings beat [7]. Statistical Insights - Research indicates that stocks with a positive Earnings ESP and a Zacks Rank of 3 or better have a nearly 70% chance of producing a positive surprise [5]. - The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate, with the Most Accurate Estimate reflecting the latest analyst revisions [6]. Upcoming Earnings Report - Pure Storage's next earnings report is anticipated to be released on December 3, 2024 [7].