The upcoming report from Pure Storage (PSTG) is expected to reveal quarterly earnings of $0.25 per share, indicating a decline of 21.9% compared to the year-ago period. Analysts forecast revenues of $771.15 million, representing an increase of 11.2% year over year.
Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
Bearing this in mind, let's now explore the average estimates of specific Pure Storage metrics that are commonly monitored and projected by Wall Street analysts.
Based on the collective assessment of analysts, 'Revenue- Product' should arrive at $370.97 million. The estimate points to a change of +6.8% from the year-ago quarter.
According to the collective judgment of analysts, 'Revenue- Subscription services' should come in at $391.59 million. The estimate points to a change of +13.1% from the year-ago quarter.
The consensus among analysts is that 'Geographic Revenue- Rest of the world' will reach $220.50 million. The estimate points to a change of +36% from the year-ago quarter.
Analysts predict that the 'Non-GAAP Gross profit- Subscription services' will reach $297.86 million. Compared to the current estimate, the company reported $259.12 million in the same quarter of the previous year.
Analysts' assessment points toward 'Non-GAAP Gross profit- Product' reaching $241.54 million. The estimate is in contrast to the year-ago figure of $253.04 million.
View all Key Company Metrics for Pure Storage here>>>
Shares of Pure Storage have experienced a change of +24.2% in the past month compared to the +10.7% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), PSTG is expected to mirror the overall market performance 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 ReportThis article originally published on Zacks Investment Research (zacks.com).
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