Pure Storage Inc [PSTG] stock is trading at $50.42, up 1.22%. 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 2.31% over the last week, with a monthly amount drifted -16.72%, 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.
Pure Storage Inc [PSTG] stock has fluctuated between $31.00 and $70.41 over the past year. 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 $50.42 at the most recent close of the market. An investor can expect a potential return of 19.12% based on the average PSTG price forecast.
Analyzing the PSTG fundamentals
Pure Storage Inc [NYSE:PSTG] reported sales of 3.01B for the trailing twelve months, which represents a growth of 10.91%. 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 49.90 points at the first support level, and at 49.39 for the second support level. However, for the 1st resistance point, the stock is sitting at 50.76, and for the 2nd resistance point, it is at 51.11.
Ratios To Look Out For
For context, Pure Storage Inc’s Current Ratio is 1.92. Also, the Quick Ratio is 1.89, while the Cash Ratio stands at 0.75. Considering the valuation of this stock, the price to sales ratio is 5.49, the price to book ratio is 11.36 and price to earnings (TTM) ratio is 124.31.
Transactions by insiders
Recent insider trading involved Chu Mona, Officer, that happened on Sep 25 ’24 when 25000.0 shares were purchased. Chief Revenue Officer, FitzSimons Dan completed a deal on Sep 23 ’24 to sell 8895.0 shares. Meanwhile, Officer DANIEL P FITZSIMONS bought 8895.0 shares on Sep 23 ’24.
