Pure Storage Inc [PSTG] stock prices are up 3.94% to $65.18 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 lost -1.18% over the last week, with a monthly amount glided 4.25%, 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 June 12, 2024, when Morgan Stanley downgraded its rating to a Equal-Weight but kept the price target unchanged to $60 for it. Previously, TD Cowen reaffirmed its Buy rating on May 30, 2024, and elevated its price target to $80. On May 30, 2024, downgrade downgraded it’s rating to Market Perform and revised its price target to $68 on the stock. Barclays downgraded its rating to a Equal Weight but stick to its price target of $51 on May 21, 2024. Raymond James downgraded its rating to a Outperform and raised its price target to $63 on April 19, 2024. Citigroup started tracking with a Buy rating for this stock on March 15, 2024, and assigned it a price target of $65. In a note dated March 06, 2024, Needham initiated an Buy rating and provided a target price of $66 on this stock.
The stock price of Pure Storage Inc [PSTG] has been fluctuating between $31.00 and $70.41 over the past year. Currently, Wall Street analysts expect the stock to reach $59.14 within the next 12 months. Pure Storage Inc [NYSE: PSTG] shares were valued at $65.18 at the most recent close of the market. An investor can expect a potential drop of -9.27% based on the average PSTG price forecast.
Analyzing the PSTG fundamentals
The Pure Storage Inc [NYSE:PSTG] reported sales of 2.93B for trailing twelve months, representing a surge of 17.68%. Gross Profit Margin for this corporation currently stands at 0.72% with Operating Profit Margin at 0.04%, Pretax Profit Margin comes in at 0.04%, and Net Profit Margin reading is 0.03%. To continue investigating profitability, this company’s Return on Assets is posted at 0.03, Equity is 0.08 and Total Capital is 0.05. 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 63.05 points at the first support level, and at 60.93 for the second support level. However, for the 1st resistance point, the stock is sitting at 66.51, and for the 2nd resistance point, it is at 67.85.
Ratios To Look Out For
It’s worth pointing out that Pure Storage Inc [NYSE:PSTG]’s Current Ratio is 1.93. In addition, the Quick Ratio stands at 1.89 and the Cash Ratio stands at 0.73. Considering the valuation of this stock, the price to sales ratio is 7.22, the price to book ratio is 15.43 and price to earnings (TTM) ratio is 233.87.
Transactions by insiders
Recent insider trading involved Chu Mona, Chief Accounting Officer, that happened on Jun 18 ’24 when 10000.0 shares were sold. Director, Taylor Roxanne completed a deal on Jun 18 ’24 to sell 8543.0 shares. Meanwhile, Director Yen Mallun sold 4818.0 shares on Jun 07 ’24.
