Pure Storage Inc [PSTG] stock is trading at $55.07, up 1.85%. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The PSTG shares have gain 3.89% over the last week, with a monthly amount glided 9.61%, 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.
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 $61.89 within the next 12 months. Pure Storage Inc [NYSE: PSTG] shares were valued at $55.07 at the most recent close of the market. An investor can expect a potential return of 12.38% 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. 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 54.17 points at the first support level, and at 53.28 for the second support level. However, for the 1st resistance point, the stock is sitting at 55.56, and for the 2nd resistance point, it is at 56.06.
Ratios To Look Out For
For context, Pure Storage Inc’s Current Ratio is 1.92. Further, the Quick Ratio stands at 1.89, while the Cash Ratio is 0.75. Considering the valuation of this stock, the price to sales ratio is 6.00, the price to book ratio is 12.41 and price to earnings (TTM) ratio is 135.77.
Transactions by insiders
Recent insider trading involved Colgrove John, Chief Visionary Officer, that happened on Oct 21 ’24 when 100000.0 shares were sold. Director, The Colgrove Family Charitable completed a deal on Oct 21 ’24 to buy 0.4 million shares. Meanwhile, Chief Accounting Officer Chu Mona sold 20647.0 shares on Oct 07 ’24.
