Pure Storage Inc [PSTG] stock prices are up 1.54% to $42.12 at the moment. In order to assess the stock’s recent performance, you can check whether its short-term value is rising or falling. The PSTG shares have gain 7.37% over the last week, with a monthly amount glided 1.57%, and seem to be holding up well over a long-time horizon.
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On 28, February 2024, Pure Storage Announces Fiscal Fourth Quarter and Full Year 2024 Financial Results. In a post published today on Yahoo Finance, FY24 TCV sales growth of Evergreen//One and Evergreen//Flex offerings exceeding 100%Q4 RPO growing 31% year-over-year.
From an analyst’s perspective:
Pure Storage Inc [NYSE: PSTG] stock has seen the most recent analyst activity on February 14, 2024, when Stifel downgraded its rating to a Hold but kept the price target unchanged to $41 for it. Previously, Guggenheim started tracking the stock with Buy rating on December 07, 2023, and set its price target to $48. On November 30, 2023, TD Cowen reiterated its Outperform rating and revised its price target to $42 on the stock. TD Cowen reiterated its Outperform rating and increased its price target to $50 on August 31, 2023. Wedbush upgraded its rating to a Outperform but $34 remained the price target by the analyst firm on April 06, 2023. Morgan Stanley upgraded its rating to Overweight for this stock on October 31, 2022, and upped its price target to $37. In a note dated August 17, 2022, Credit Suisse initiated an Outperform rating and provided a target price of $36 on this stock.
The stock price of Pure Storage Inc [PSTG] has been fluctuating between $22.14 and $45.34 over the past year. Currently, Wall Street analysts expect the stock to reach $39.33 within the next 12 months. Pure Storage Inc [NYSE: PSTG] shares were valued at $42.12 at the most recent close of the market. An investor can expect a potential drop of -6.62% based on the average PSTG price forecast.
Analyzing the PSTG fundamentals
The Pure Storage Inc [NYSE:PSTG] reported sales of 2.85B for trailing twelve months, representing a surge of 12.84%. Gross Profit Margin for this corporation currently stands at 0.71% with Operating Profit Margin at 0.02%, Pretax Profit Margin comes in at 0.03%, and Net Profit Margin reading is 0.02%. To continue investigating profitability, this company’s Return on Assets is posted at 0.02, Equity is 0.06 and Total Capital is 0.02. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.21.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 41.21 points at the first support level, and at 40.29 for the second support level. However, for the 1st resistance point, the stock is sitting at 42.78, and for the 2nd resistance point, it is at 43.43.
Pure Storage Inc [PSTG] reported earnings per share of $0.5 for its fiscal quarter that ended on 10/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.4/share, meaning a difference of $0.1 and a surprise factor of 25.00%. By comparison, the stated earnings for the previous quarter ended on 7/30/2023 were $0.34 per share as compared to estimates of $0.28 per share, a difference of $0.06 representing a surprise of 21.40%.
Ratios To Look Out For
It’s worth pointing out that Pure Storage Inc [NYSE:PSTG]’s Current Ratio is 1.76. In addition, the Quick Ratio stands at 1.72 and the Cash Ratio stands at 0.51. Considering the valuation of this stock, the price to sales ratio is 4.67, the price to book ratio is 11.59 and price to earnings (TTM) ratio is 222.86.
Transactions by insiders
Recent insider trading involved Krysler P. Kevan, Chief Financial Officer, that happened on Dec 28 when 26257.0 shares were sold. Director, Taylor Roxanne completed a deal on Dec 19 to sell 16216.0 shares. Meanwhile, Director Tomb Gregory sold 8475.0 shares on Dec 07.
