Why Pure Storage (PSTG) Outpaced the Stock Market Today

The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. At present, Pure Storage boasts a Zacks Rank of #3 (Hold). Digging into valuation, Pure Storage currently has a Forward P/E ratio of 37.8. Its industry sports an average Forward P/E of 26.6, so one might conclude that Pure Storage is ...