Pure Storage shares are trading lower after the company reported worse-than-expected Q3 revenue results and issued Q4 and FY24 revenue guidance below estimates.
Portfolio Pulse from Benzinga Newsdesk
Pure Storage reported Q3 revenue results that fell short of expectations and provided Q4 and FY24 revenue guidance that was below analyst estimates, causing its shares to trade lower.
November 30, 2023 | 1:41 pm
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NEGATIVE IMPACT
Pure Storage's stock is trading lower due to disappointing Q3 revenue and weaker-than-expected revenue guidance for Q4 and FY24.
The stock price of Pure Storage is likely to face downward pressure in the short term as the reported revenue miss and lower future guidance can lead to a loss of investor confidence and potential sell-offs.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100