Of 19 brokerages covering Pure Storage, 16 have a Buy or Strong Buy rating and the others rate the stock at Hold. At a share price of around $36.00, the potential upside based on a median price target of $42.00 is 16.7%. At the high price target of $47.00, the upside potential is 30.6%.
Pure Storage is expected to report second-quarter 2024 revenue of $679.94 million, up 15.4% sequentially and by 5.1% year over year. The adjusted EPS estimate of $0.28 would be up almost 250% sequentially but down 12.5% year over year. For the full year, estimates call for EPS of $1.37, up 4.2%, and sales of $2.95 billion, up 7.1%.
The stock trades at 26.2 times expected 2024 EPS, 21.6 times estimated 2025 earnings of $1.66 and 20.3 times estimated 2026 earnings of $1.77 per share. The 52-week trading range is $22.14 to $39.19. Pure Storage does not pay a dividend, and the total shareholder return for the past year was 18.53%.
Salesforce
Enterprise software maker Salesforce Inc. (NYSE: CRM) has enjoyed a share price increase of almost 60% so far in 2023, lifting the Dow Jones industrial average component’s 12-month share price change to plus 28%.
Salesforce has jumped on the AI bandwagon with a generative AI product called Service GPT and an AI Cloud “starter” pack priced at $360,000. Wonder what the Rolls Royce version costs? In any event, analysts and investors will want to hear more about these products, both of which were introduced after Salesforce reported April-quarter results.
Of 48 analysts covering the stock, 33 have a Buy or Strong Buy rating. Another 14 rate it at Hold. At a share price of around $212.00, the upside potential based on a median price target of $245.00 is 15.6%. At the high price target of $329.00, the upside potential is 55.2%.
The consensus revenue estimate for the second quarter of fiscal 2024 is $8.53 billion, up 3.4% sequentially and by 10.5% year over year. Adjusted EPS are forecast at $1.89, up 11.5% sequentially and 58.8% higher year over year. For the full fiscal year ending in January, estimates call for EPS of $7.45, up 42.2%, on sales of $34.65 billion, up about 10.5%.
Salesforce trades at a multiple of 28.4 times expected 2024 EPS, 23.5 times estimated 2025 earnings of $9.02 and 19.8 times estimated 2026 earnings of $10.71 per share. The 52-week trading range is $126.34 to $238.22. The company does not pay a dividend. Total shareholder return for the past year was 28.14%.
Originally published at 24/7 Wall St.
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