Pure Storage Inc. [NYSE: PSTG] gained 2.56% or 0.37 points to close at $14.82 with a heavy trading volume of 3322225 shares.
It opened the trading session at $14.46, the shares rose to $14.92 and dropped to $14.42, the range by which the price of stock traded the whole day. The daily chart for PSTG points out that the company has recorded 16.78% gains over the past six months. However, it is still -86.89% lower than its most recent low trading price.
If we look at the average trading volume of 3.96M shares, PSTG reached to a volume of 3322225 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Pure Storage Inc. [PSTG]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PSTG shares is $19.74 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PSTG stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Deutsche Bank have made an estimate for Pure Storage Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on June 18, 2020. While these analysts kept the previous recommendation, Northland Capital raised their target price to Outperform. The new note on the price target was released on March 26, 2020, representing the official price target for Pure Storage Inc. stock. Previously, the target price had yet another raise from $20 to $22, while Maxim Group kept a Buy rating on PSTG stock. On February 28, 2020, analysts decreased their price target for PSTG shares from 19 to 18.
The Average True Range (ATR) for Pure Storage Inc. is set at 0.67, with the Price to Sales ratio for PSTG stock in the period of the last 12 months amounting to 2.29. The Price to Book ratio for the last quarter was 5.26, with the Price to Cash per share for the same quarter was set at 4.94. Price to Free Cash Flow for PSTG in the course of the last twelve months was 28.39 with Quick ratio for the last quarter at 2.90.
Trading performance analysis for PSTG stock
Pure Storage Inc. [PSTG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.35. With this latest performance, PSTG shares dropped by -1.53% in over the last four-week period, additionally plugging by 16.78% over the last 6 months – not to mention a drop of -13.64% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PSTG stock in for the last two-week period is set at 45.60, with the RSI for the last a single of trading hit 47.36, and the three-weeks RSI is set at 44.92 for Pure Storage Inc. [PSTG]. The present Moving Average for the last 50 days of trading for this stock 16.21, while it was recorded at 14.74 for the last single week of trading, and 15.93 for the last 200 days.
Pure Storage Inc. [PSTG]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Pure Storage Inc. [PSTG] shares currently have an operating margin of -11.61 and a Gross Margin at +68.83. Pure Storage Inc.’s Net Margin is presently recorded at -12.23.
Return on Total Capital for PSTG is now -14.59, given the latest momentum, and Return on Invested Capital for the company is -15.53. Return on Equity for this stock declined to -25.64, with Return on Assets sitting at -9.18. When it comes to the capital structure of this company, Pure Storage Inc. [PSTG] has a Total Debt to Total Equity ratio set at 71.95. Additionally, PSTG Total Debt to Total Capital is recorded at 41.84, with Total Debt to Total Assets ending up at 25.26. Long-Term Debt to Equity for the company is recorded at 68.66, with the Long-Term Debt to Total Capital now at 39.93.
Reflecting on the efficiency of the workforce at the company, Pure Storage Inc. [PSTG] managed to generate an average of -$59,114 per employee. Receivables Turnover for the company is 3.93 with a Total Asset Turnover recorded at a value of 0.75.Pure Storage Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.90 and a Current Ratio set at 3.00.
Pure Storage Inc. [PSTG]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Pure Storage Inc. posted 0.13/share EPS, while the average EPS was predicted by analysts to be reported at 0.09/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 44.40%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PSTG. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Pure Storage Inc. go to 17.23%.
An analysis of insider ownership at Pure Storage Inc. [PSTG]
There are presently around $3,296 million, or 81.80% of PSTG stock, in the hands of institutional investors. The top three institutional holders of PSTG stocks are: VANGUARD GROUP INC with ownership of 21,926,902, which is approximately 1.779% of the company’s market cap and around 3.50% of the total institutional ownership; CHAMPLAIN INVESTMENT PARTNERS, LLC, holding 18,639,277 shares of the stock with an approximate value of $276.23 million in PSTG stocks shares; and FMR LLC, currently with $262.16 million in PSTG stock with ownership of nearly -12.811% of the company’s market capitalization.
Positions in Pure Storage Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 162 institutional holders increased their position in Pure Storage Inc. [NYSE:PSTG] by around 28,737,650 shares. Additionally, 108 investors decreased positions by around 18,965,172 shares, while 26 investors held positions by with 174,699,931 shares. The mentioned changes placed institutional holdings at 222,402,753 shares, according to the latest SEC report filing. PSTG stock had 66 new institutional investments in for a total of 3,663,197 shares, while 27 institutional investors sold positions of 1,247,331 shares during the same period.