At the time of writing, Pure Storage Inc [PSTG] stock is trading at $55.72, up 0.70%. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The PSTG shares have gain 34.27% over the last week, with a monthly amount glided 37.07%, and seem to be holding up well over a long-time horizon.
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On 29, February 2024, Pure Storage Unveils Strategic Evolution of its Partner Program, Built for the Subscription Economy. In a post published today on Yahoo Finance, Updates Will Enhance Partner Experience to Drive Partner Empowerment, Scale, and Preference.
From an analyst’s perspective:
Pure Storage Inc [NYSE: PSTG] stock has seen the most recent analyst activity on February 29, 2024, when TD Cowen reiterated its Outperform rating and also boosted its price target to $60 from $42. Previously, Stifel downgraded its rating to Hold on February 14, 2024, and kept the price target unchanged to $41. On December 07, 2023, Guggenheim initiated with a Buy rating and assigned a price target of $48 on the stock. TD Cowen reiterated its Outperform rating and decreased its price target to $42 on November 30, 2023. TD Cowen reiterated its recommendation of a Outperform and raised its price target to $50 on August 31, 2023. Wedbush upgraded its rating to Outperform for this stock on April 06, 2023, but kept the price target unchanged to $34. In a note dated October 31, 2022, Morgan Stanley upgraded an Overweight rating on this stock and boosted its target price from $35 to $37.
For the past year, the stock price of Pure Storage Inc fluctuated between $22.14 and $55.99. 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 $55.72 at the most recent close of the market. An investor can expect a potential drop of -29.41% based on the average PSTG price forecast.
Analyzing the PSTG fundamentals
According to Pure Storage Inc [NYSE:PSTG], the company’s sales were 2.83B for trailing twelve months, which represents an -2.52% plunge. 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 54.80 points at the first support level, and at 53.88 for the second support level. However, for the 1st resistance point, the stock is sitting at 56.53, and for the 2nd resistance point, it is at 57.34.
Pure Storage Inc [PSTG] reported earnings per share of $0.5 for its fiscal quarter that ended on 1/30/2024. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.44/share, meaning a difference of $0.06 and a surprise factor of 13.60%. By comparison, the stated earnings for the previous quarter ended on 10/30/2023 were $0.5 per share as compared to estimates of $0.4 per share, a difference of $0.1 representing a surprise of 25.00%.
Ratios To Look Out For
It is important to note that Pure Storage Inc [NYSE:PSTG] has a current ratio of 1.76. Further, the Quick Ratio stands at 1.73, while the Cash Ratio is 0.51. Considering the valuation of this stock, the price to sales ratio is 6.22, the price to book ratio is 15.33 and price to earnings (TTM) ratio is 328.15.
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.
