Pure Storage Inc [PSTG] stock prices are up 2.11% to $64.26 at the moment. 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 4.61% over the last week, with a monthly amount drifted -1.02%, and not seem to be holding up well over a long-time horizon.
From an analyst’s perspective:
Pure Storage Inc [NYSE: PSTG] stock has seen the most recent analyst activity on December 04, 2024, when Piper Sandler upgraded its rating to a Overweight and also boosted its price target to $76 from $56. Previously, Wells Fargo reaffirmed its Overweight rating on December 04, 2024, and elevated its price target to $80. On December 04, 2024, TD Cowen reiterated its Buy rating and revised its price target to $80 on the stock. Stifel reiterated its Hold rating and increased its price target to $65 on December 04, 2024. Needham reiterated its recommendation of a Buy and raised its price target to $75 on December 04, 2024. JP Morgan reiterated a Overweight rating for this stock on December 04, 2024, and upped its price target to $75. In a note dated December 04, 2024, Evercore ISI reiterated an Outperform rating on this stock and boosted its target price from $70 to $75.
The stock price of Pure Storage Inc [PSTG] has been fluctuating between $35.35 and $70.41 over the past year. Currently, Wall Street analysts expect the stock to reach $71.5 within the next 12 months. Pure Storage Inc [NYSE: PSTG] shares were valued at $64.26 at the most recent close of the market. An investor can expect a potential return of 11.27% based on the average PSTG price forecast.
Analyzing the PSTG fundamentals
The Pure Storage Inc [NYSE:PSTG] reported sales of 3.08B for trailing twelve months, representing a surge of 8.94%. 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 0.04%. To continue investigating profitability, this company’s Return on Assets is posted at 0.03, Equity is 0.12 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 1.44.
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 62.92 points at the first support level, and at 61.59 for the second support level. However, for the 1st resistance point, the stock is sitting at 65.02, and for the 2nd resistance point, it is at 65.78.
Ratios To Look Out For
It’s worth pointing out that Pure Storage Inc [NYSE:PSTG]’s Current Ratio is 1.71. Further, the Quick Ratio stands at 1.68, while the Cash Ratio is 0.62. Considering the valuation of this stock, the price to sales ratio is 6.81, the price to book ratio is 14.90 and price to earnings (TTM) ratio is 169.42.
Transactions by insiders
Recent insider trading involved Singh Ajay, Chief Product Officer, that happened on Dec 31 ’24 when 19972.0 shares were sold. Officer, Singh Ajay completed a deal on Dec 31 ’24 to buy 19972.0 shares. Meanwhile, Chief Revenue Officer FitzSimons Dan sold 8895.0 shares on Dec 24 ’24.
