Pure Storage Inc [PSTG] stock prices are up 1.93% to $53.31 at the moment. Until recently, the best way to gauge how the stock has performed was to look at its short-term value. The PSTG shares have gain 1.10% over the last week, with a monthly amount glided 6.71%, and seem to be holding up well over a long-time horizon.
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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.
The stock price of Pure Storage Inc [PSTG] has been fluctuating between $22.14 and $58.46 over the past year. Currently, Wall Street analysts expect the stock to reach $41.56 within the next 12 months. Pure Storage Inc [NYSE: PSTG] shares were valued at $53.31 at the most recent close of the market. An investor can expect a potential drop of -22.04% based on the average PSTG price forecast.
Analyzing the PSTG fundamentals
The Pure Storage Inc [NYSE:PSTG] reported sales of 2.83B for trailing twelve months, representing a drop of -2.52%. 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. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.12.
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 52.15 points at the first support level, and at 50.98 for the second support level. However, for the 1st resistance point, the stock is sitting at 53.92, and for the 2nd resistance point, it is at 54.52.
Ratios To Look Out For
It’s worth pointing out that Pure Storage Inc [NYSE:PSTG]’s Current Ratio is 1.76. As well, the Quick Ratio is 1.73, while the Cash Ratio is 0.51. Considering the valuation of this stock, the price to sales ratio is 6.12, the price to book ratio is 13.41 and price to earnings (TTM) ratio is 319.41.
Transactions by insiders
Recent insider trading involved Dietzen Scott, Director, that happened on Apr 12 ’24 when 0.15 million shares were sold. Chief Product Officer, Singh Ajay completed a deal on Apr 05 ’24 to sell 37588.0 shares. Meanwhile, Director Pure Storage, Inc. sold 7500.0 shares on Apr 05 ’24.
