MOUNTAIN VIEW, Calif., October 16, 2019 – Shares of Pure Storage Inc. (NYSE: PSTG) showed the bullish trend with a higher momentum of 1.45% to $17.44. The company traded total volume of 3.372M shares as contrast to its average volume of 3.99M shares. The company has a market value of $4.32B and about 247.98M shares outstanding.
Pure Storage (PSTG) reported a loss of $100.30M in its fiscal first quarter. The Mountain View, California-based company said it had a loss of 41 cents per share. Losses, adjusted for stock option expense and amortization costs, came to 11 cents per share. The results fell short of Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for a loss of 8 cents per share.
The data storage company posted revenue of $326.70M in the period, also missing Street forecasts. Eight analysts surveyed by Zacks expected $333.80M. For the current quarter ending in August, Pure Storage said it expects revenue in the range of $389.0M to $401.0M. The company expects full-year revenue in the range of $1.70B to $1.77B.
The Company offered net profit margin of -14.50% while its gross profit margin was 66.80%. ROE was recorded as -30.20% while beta factor was 1.73. The stock, as of recent close, has shown the weekly upbeat performance of 6.60% which was maintained at 8.46% in this year.
