Pure Storage Inc. [PSTG] is 27.42% higher this YTD. Is it still time to buy?

Pure Storage Inc. [NYSE: PSTG] closed the trading session at $28.81 on 02/11/21. The day’s price range saw the stock hit a low of $27.71, while the highest price level was $28.87. The company report on February 8, 2021 that Pure Storage Channel Leaders Andy Martin and Wendy Stusrud Recognized as 2021 CRN Channel Chiefs.

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Pure Storage (NYSE: PSTG), the IT pioneer that delivers storage as-a-service in a multi-cloud world, announced that CRN®, a brand of The Channel Company, has named Andy Martin, Vice President, Global Partner Sales and Wendy Stusrud, Area Vice President, Americas Channel Sales to its 2021 list of Channel Chiefs. The prestigious CRN Channel Chiefs list, released annually, recognizes leading IT channel vendor executives who continually demonstrate outstanding leadership, influence, innovation, and growth.

As a 100% channel centric company, Pure delivers an unrivaled partner experience. Under the leadership of Andy Martin and Wendy Stusrud, the Pure Partner Program has continued to set a high bar, delivering on its promise of providing channel partners the technology and solutions they need to drive faster, smarter, and more innovative business.

The stocks have a year to date performance of 27.42 percent and weekly performance of 7.10 percent. The stock has been moved at 66.82 percent over the last six months. The stock has performed 23.01 percent around the most recent 30 days and changed 66.15 percent over the most recent 3-months.

If compared to the average trading volume of 4.23M shares, PSTG reached to a volume of 5031581 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say 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 $21.80 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 2.10. 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 1.09, with the Price to Sales ratio for PSTG stock in the period of the last 12 months amounting to 4.67. The Price to Book ratio for the last quarter was 10.55, with the Price to Cash per share for the same quarter was set at 4.43. Price to Free Cash Flow for PSTG in the course of the last twelve months was 77.23 with Quick ratio for the last quarter at 2.60.

PSTG stock trade performance evaluation

Pure Storage Inc. [PSTG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.10. With this latest performance, PSTG shares gained by 23.01% in over the last four-week period, additionally plugging by 66.82% over the last 6 months – not to mention a rise of 45.95% 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 79.96, with the RSI for the last a single of trading hit 84.79, and the three-weeks RSI is set at 76.45 for Pure Storage Inc. [PSTG]. The present Moving Average for the last 50 days of trading for this stock 23.27, while it was recorded at 27.80 for the last single week of trading, and 18.29 for the last 200 days.

Pure Storage Inc. [PSTG]: An insightful look at the core fundamentals

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 2.60 and a Current Ratio set at 2.60.

Earnings per share (EPS) analysis for Pure Storage Inc. [PSTG] stock

With the latest financial reports released by the company, Pure Storage Inc. posted 0.23/share EPS, while the average EPS was predicted by analysts to be reported at 0.21/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 9.50%. 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 24.53%.

Pure Storage Inc. [PSTG]: Insider Ownership positions

There are presently around $6,872 million, or 85.20% of PSTG stock, in the hands of institutional investors. The top three institutional holders of PSTG stocks are: ARK INVESTMENT MANAGEMENT LLC with ownership of 25,593,384, which is approximately 130.301% of the company’s market cap and around 3.50% of the total institutional ownership; FMR LLC, holding 22,232,761 shares of the stock with an approximate value of $640.53 million in PSTG stocks shares; and VANGUARD GROUP INC, currently with $610.23 million in PSTG stock with ownership of nearly -3.402% of the company’s market capitalization.

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Positions in Pure Storage Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 121 institutional holders increased their position in Pure Storage Inc. [NYSE:PSTG] by around 34,854,170 shares. Additionally, 143 investors decreased positions by around 21,342,638 shares, while 35 investors held positions by with 182,317,530 shares. The mentioned changes placed institutional holdings at 238,514,338 shares, according to the latest SEC report filing. PSTG stock had 41 new institutional investments in for a total of 3,362,483 shares, while 44 institutional investors sold positions of 4,100,204 shares during the same period.

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