Seeking Clues to Pure Storage (PSTG) Q3 Earnings? A Peek Into Wall Street Projections for Key Metrics
Wall Street analysts expect Pure Storage (PSTG) to post quarterly earnings of $0.41 per share in its upcoming report, which indicates a year-over-year increase of 32.3%. Revenues are expected to be $761.2 million, up 12.6% from the year-ago quarter.
The consensus EPS estimate for the quarter has been revised 1.8% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
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.
With that in mind, let's delve into the average projections of some Pure Storage metrics that are commonly tracked and projected by analysts on Wall Street.
Analysts' assessment points toward 'Revenue- Product' reaching $454.56 million. The estimate indicates a year-over-year change of +5.4%.
The average prediction of analysts places 'Revenue- Subscription services' at $306.91 million. The estimate indicates a change of +25.4% from the prior-year quarter.
According to the collective judgment of analysts, 'Gross profit- Subscription services' should come in at $213.00 million. Compared to the current estimate, the company reported $170.60 million in the same quarter of the previous year.
View all Key Company Metrics for Pure Storage here>>>
Over the past month, Pure Storage shares have recorded returns of +12.7% versus the Zacks S&P 500 composite's +8% change. Based on its Zacks Rank #3 (Hold), PSTG will likely exhibit a performance that aligns with the overall market in the upcoming period. 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 Report
