Currently, Pure Storage Inc [PSTG] is trading at $57.56, up 0.86%. 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 gain 6.79% over the last week, with a monthly amount glided 13.49%, 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 October 17, 2024, when Guggenheim reiterated its Buy rating and also boosted its price target to $93 from $72. Previously, TD Cowen reaffirmed its Buy rating on August 29, 2024, and dropped its price target to $70. On August 29, 2024, Needham reiterated its Buy rating and revised its price target to $62 on the stock. Piper Sandler started tracking the stock assigning a Neutral rating and suggested a price target of $60 on August 19, 2024. UBS downgraded its rating to a Sell and raised its price target to $47 on July 02, 2024. Morgan Stanley downgraded its rating to Equal-Weight for this stock on June 12, 2024, but kept the price target unchanged to $60. In a note dated May 30, 2024, TD Cowen reiterated an Buy rating on this stock and boosted its target price from $60 to $80.
This stock has fluctuated between a low of $31.00 and a high of $70.41 over the last 52 weeks. Currently, Wall Street analysts expect the stock to reach $61.89 within the next 12 months. Pure Storage Inc [NYSE: PSTG] shares were valued at $57.56 at the most recent close of the market. An investor can expect a potential return of 7.52% based on the average PSTG price forecast.
Analyzing the PSTG fundamentals
Trailing Twelve Months sales for Pure Storage Inc [NYSE:PSTG] were 3.01B which represents 10.91% growth. 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. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.1.
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 56.82 points at the first support level, and at 56.08 for the second support level. However, for the 1st resistance point, the stock is sitting at 58.13, and for the 2nd resistance point, it is at 58.70.
Ratios To Look Out For
To put it in perspective, the Current Ratio for Pure Storage Inc [NYSE:PSTG] is 1.92. In addition, the Quick Ratio stands at 1.89 and the Cash Ratio stands at 0.75. Considering the valuation of this stock, the price to sales ratio is 6.27, the price to book ratio is 12.97 and price to earnings (TTM) ratio is 141.91.
Transactions by insiders
Recent insider trading involved The Colgrove Family Charitable, Director, that happened on Oct 21 ’24 when 0.4 million shares were purchased. Chief Accounting Officer, Chu Mona completed a deal on Oct 07 ’24 to sell 20647.0 shares. Meanwhile, Chief Visionary Officer Colgrove John sold 100000.0 shares on Oct 04 ’24.
