At the time of writing, Pure Storage Inc [PSTG] stock is trading at $49.58, up 1.39%. 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 6.88% over the last week, with a monthly amount drifted -20.72%, and not 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 August 29, 2024, when TD Cowen reiterated its Buy rating and also revised its price target to $70 from $80. Previously, Needham reaffirmed its Buy rating on August 29, 2024, and dropped its price target to $62. On August 19, 2024, Piper Sandler initiated with a Neutral rating and assigned a price target of $60 on the stock. UBS downgraded its rating to a Sell and increased its price target to $47 on July 02, 2024. Morgan Stanley downgraded its rating to a Equal-Weight but $60 remained the price target by the analyst firm on June 12, 2024. TD Cowen reiterated a Buy rating for this stock on May 30, 2024, and upped its price target to $80. In a note dated May 30, 2024, Northland Capital downgraded an Market Perform rating on this stock and boosted its target price from $58 to $68.
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 $60.06 within the next 12 months. Pure Storage Inc [NYSE: PSTG] shares were valued at $49.58 at the most recent close of the market. An investor can expect a potential return of 21.14% based on the average PSTG price forecast.
Analyzing the PSTG fundamentals
According to Pure Storage Inc [NYSE:PSTG], the company’s sales were 3.01B for trailing twelve months, which represents an 10.91% jump. Gross Profit Margin for this corporation currently stands at 0.72% with Operating Profit Margin at 0.05%, Pretax Profit Margin comes in at 0.06%, and Net Profit Margin reading is 0.05%. To continue investigating profitability, this company’s Return on Assets is posted at 0.04, Equity is 0.1 and Total Capital is 0.06. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of0.1.
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 48.60 points at the first support level, and at 47.63 for the second support level. However, for the 1st resistance point, the stock is sitting at 50.12, and for the 2nd resistance point, it is at 50.66.
Ratios To Look Out For
It is important to note that Pure Storage Inc [NYSE:PSTG] has a current ratio of 1.92. As well, the Quick Ratio is 1.89, while the Cash Ratio is 0.75. Considering the valuation of this stock, the price to sales ratio is 5.40, the price to book ratio is 11.17 and price to earnings (TTM) ratio is 122.24.
Transactions by insiders
Recent insider trading involved Colgrove John, Chief Visionary Officer, that happened on Sep 04 ’24 when 100000.0 shares were sold. Chief Visionary Officer, Colgrove John completed a deal on Aug 20 ’24 to sell 100000.0 shares. Meanwhile, Chief Revenue Officer FitzSimons Dan sold 9881.0 shares on Jul 19 ’24.
