Pure Storage is expected to report second-quarter 2023 revenue of $636.06 million, up 2.5% sequentially and 28.0% higher year over year. The adjusted EPS estimate of $0.22 is down 12% sequentially but up 57% year over year. For the full year, current estimates call for EPS of $0.94, up 41.1%, and sales of $2.67 billion, up 22.3%.
The company’s stock trades at 31.7 times expected 2023 EPS, 26.6 times estimated 2024 earnings of $1.12 and 22.7 times estimated 2025 earnings of $1.31 per share The stock’s 52-week range is $21.89 to $36.71, and Pure Storage does not pay a dividend. Total shareholder return for the past year is 23.7%.
SentinelOne
Cybersecurity software provider SentinelOne Inc. (NYSE: S) has dropped about 57% of its value over the past 12 months. The company, which came public in July 2021, reached a post-IPO high in mid-November and the shares have shed 63% since then.
Growth does not appear to be a problem, as revenue has more than doubled year over year in every quarter since the company came public. Investors’ current sourness on tech stocks, along with SentinelOne’s consistent cash burn, could be more a reflection of the overall market than of the company’s prospects. SentinelOne reports quarterly results after markets close Wednesday.
Of 18 brokerages covering the company, 14 have a Buy or Strong Buy and the others have Hold ratings. At a share price of around $27.90, the upside potential based on a median price target of $65.00 is about 27.2%. At the high price target of $54.00, the upside potential is nearly 100%.
Second-quarter revenue is forecast at $95.66 million, up 22.2% sequentially and by 109.0% year over year. The company’s adjusted loss per share is forecast at $0.25, compared to the prior quarter’s loss of $0.21 and the year-ago quarterly loss of $0.20. For the full 2022 fiscal year that ends in January, the company is expected to post a loss per share of $0.83, compared to a loss of $1.03 per share last fiscal year, on sales of $406.3 million, up 98.4%.
SentinelOne is not expected to post a profit in 2023, 2024 or 2025. The stock’s enterprise value to sales multiple is 15.3 times in 2023, 9.3 times in 2024 and 6.3 times in 2025. The stock’s 52-week range is $18.64 to $78.53. The company does not pay a dividend, and the total return for the past year was negative 57%.
Originally posted at 24/7 Wall St.
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