In the latest close session, Everpure (PSTG) was up +1.39% at $64.89. The stock exceeded the S&P 500, which registered a gain of 0.8% for the day. On the other hand, the Dow registered a loss of 0.15%, and the technology-centric Nasdaq increased by 1.6%.
Shares of the data storage company have appreciated by 0.88% over the course of the past month, outperforming the Business Services sector's gain of 0.3%, and lagging the S&P 500's gain of 5.15%.
The investment community will be closely monitoring the performance of Everpure in its forthcoming earnings report. The company is forecasted to report an EPS of $0.4, showcasing a 37.93% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $1 billion, indicating a 28.87% increase compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.33 per share and revenue of $4.38 billion, indicating changes of +18.27% and +19.61%, respectively, compared to the previous year.
Investors should also pay attention to any latest changes in analyst estimates for Everpure. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Currently, Everpure is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, Everpure is presently being traded at a Forward P/E ratio of 27.47. This expresses a premium compared to the average Forward P/E of 16.06 of its industry.
Meanwhile, PSTG's PEG ratio is currently 1.47. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Technology Services was holding an average PEG ratio of 1.42 at yesterday's closing price.
The Technology Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 178, positioning it in the bottom 28% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Everpure, Inc. (PSTG): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).