Currently, Pure Storage Inc [PSTG] is trading at $52.17, down -0.97%. 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 4.80% over the last week, with a monthly amount glided 25.71%, and seem to be holding up well over a long-time horizon.
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On 26, March 2024, With Pure Storage, MPI Reduces Data Center Footprint by 95%, Achieves 10x Faster Time to Recovery. In a post published today on Yahoo Finance, Pure Storage® (NYSE: PSTG), the IT pioneer that delivers the world’s most advanced data storage technologies and services, announced that Motion Picture Industry Pension and Health Plans (MPI), a nonprofit organization that administers health and retirement benefits to the film industry, modernized its IT environment with Pure Storage to drive higher performance, greater efficiency, and business growth.
From an analyst’s perspective:
Pure Storage Inc [NYSE: PSTG] stock has seen the most recent analyst activity on March 15, 2024, when Citigroup initiated its Buy rating and assigned the stock a price target of $65. Previously, Needham started tracking the stock with Buy rating on March 06, 2024, and set its price target to $66. On February 29, 2024, TD Cowen reiterated its Outperform rating and revised its price target to $60 on the stock. Stifel downgraded its rating to a Hold but stick to its price target of $41 on February 14, 2024. Guggenheim initiated its recommendation with a Buy and recommended $48 as its price target on December 07, 2023. TD Cowen reiterated a Outperform rating for this stock on November 30, 2023, and downed its price target to $42. In a note dated August 31, 2023, TD Cowen reiterated an Outperform rating on this stock and boosted its target price from $44 to $50.
This stock has fluctuated between a low of $22.14 and a high of $58.46 over the last 52 weeks. 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 $52.17 at the most recent close of the market. An investor can expect a potential drop of -24.61% based on the average PSTG price forecast.
Analyzing the PSTG fundamentals
Trailing Twelve Months sales for Pure Storage Inc [NYSE:PSTG] were 2.83B which represents -2.52% decline. 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 0.03. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of0.11.
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 51.59 points at the first support level, and at 51.00 for the second support level. However, for the 1st resistance point, the stock is sitting at 53.29, and for the 2nd resistance point, it is at 54.40.
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
To put it in perspective, the Current Ratio for Pure Storage Inc [NYSE:PSTG] is 1.76. In addition, the Quick Ratio stands at 1.73 and the Cash Ratio stands at 0.51. Considering the valuation of this stock, the price to sales ratio is 5.82, the price to book ratio is 14.35 and price to earnings (TTM) ratio is 307.24.
Transactions by insiders
Recent insider trading involved FitzSimons Dan, Chief Revenue Officer, that happened on Mar 01 ’24 when 36437.0 shares were sold. Chief Accounting Officer, Chu Mona completed a deal on Mar 01 ’24 to sell 6853.0 shares. Meanwhile, Chief Financial Officer Krysler P. Kevan sold 26257.0 shares on Dec 28 ’23.
