At the time of writing, Pure Storage Inc [PSTG] stock is trading at $65.17, up 0.76%. One of the good ways to gauge the recent performance is if the stock’s short-term value is rising or falling. The PSTG shares have gain 1.50% over the last week, with a monthly amount glided 2.66%, 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 July 02, 2024, when UBS downgraded its rating to a Sell and also boosted its price target to $47 from $44. Previously, Morgan Stanley downgraded its rating to Equal-Weight on June 12, 2024, and kept the price target unchanged to $60. On May 30, 2024, TD Cowen reiterated its Buy rating and revised its price target to $80 on the stock. Northland Capital downgraded its rating to a Market Perform and increased its price target to $68 on May 30, 2024. Barclays downgraded its rating to a Equal Weight but $51 remained the price target by the analyst firm on May 21, 2024. Raymond James downgraded its rating to Outperform for this stock on April 19, 2024, and upped its price target to $63. In a note dated March 15, 2024, Citigroup initiated an Buy rating and provided a target price of $65 on this stock.
For the past year, the stock price of Pure Storage Inc fluctuated between $31.00 and $70.41. 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 $65.17 at the most recent close of the market. An investor can expect a potential drop of -9.25% based on the average PSTG price forecast.
Analyzing the PSTG fundamentals
According to Pure Storage Inc [NYSE:PSTG], the company’s sales were 2.93B for trailing twelve months, which represents an 17.68% jump. 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. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.11.
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 64.78 points at the first support level, and at 64.38 for the second support level. However, for the 1st resistance point, the stock is sitting at 65.83, and for the 2nd resistance point, it is at 66.48.
Ratios To Look Out For
It is important to note that Pure Storage Inc [NYSE:PSTG] has a current ratio of 1.93. Also, the Quick Ratio is 1.89, while 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 15.42 and price to earnings (TTM) ratio is 233.84.
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.
