Pure Storage climbs on upbeat forecast, Q4 results beat

Everpure

29/02/2024 12:28

** Shares of data storage firm Pure Storage  PSTG.N  rise
9.6% to $46.15 premarket
    ** Co expects Q1 revenue of $680 mln, above analysts'
estimates of $672.2 mln - LSEG data
    ** Forecasts FY25 revenue of $3.1 bln; compared to Wall
Street view of $3.13 bln
    ** Q4 revenue of $789.8 mln beat market view of $782.3 mln
    ** Quarterly adj. EPS of $0.50 was above estimates of $0.44
    ** Authorizes incremental share repurchases of up to an
additional $250 mln
    ** 15 of 18 brokerages rate the stock "buy" or higher, three
"hold"; their median PT is $51
    ** Up to Wednesday's close, stock had risen 18.1% YTD,
compared with over 33% gain in 2023

 (Reporting by Khushi Singh in Bengaluru)
 ((Khushi.Singh@thomsonreuters.com;))