Pure Storage Inc. [PSTG] Revenue clocked in at $1.68 billion, down -2.83% YTD: What’s Next?

Pure Storage Inc. [NYSE: PSTG] price surged by 2.00 percent to reach at $0.43. The company report on March 29, 2021 that Pure Storage Honored With 5-Star Rating in the 2021 CRN Partner Program Guide.

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As a 100% Channel Centric Company, Pure Delivers an Unrivaled Partner Experience.

Pure Storage (NYSE: PSTG), the IT pioneer that delivers storage as-a-service in a multi-cloud world announced that it is being acknowledged by CRN®, a brand of The Channel Company, in its 2021 Partner Program Guide. This annual guide provides a conclusive list of the most distinguished partner programs from leading technology companies that provide products and services through the IT Channel. The 5-Star rating is awarded to an exclusive group of companies that offer solution providers the best of the best, going above and beyond in their partner programs.

A sum of 3499212 shares traded at recent session while its average daily volume was at 5.50M shares. Pure Storage Inc. shares reached a high of $22.42 and dropped to a low of $21.76 until finishing in the latest session at $21.97.

The one-year PSTG stock forecast points to a potential upside of 24.97. The average equity rating for PSTG stock is currently 2.10, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on 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 $29.28 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.

Raymond James have made an estimate for Pure Storage Inc. shares, keeping their opinion on the stock as Strong Buy, with their previous recommendation back on March 15, 2021. The new note on the price target was released on March 09, 2021, representing the official price target for Pure Storage Inc. stock. Previously, the target price had yet another raise from $22 to $30, while Cowen kept a Outperform rating on PSTG stock.

The Average True Range (ATR) for Pure Storage Inc. is set at 1.35, with the Price to Sales ratio for PSTG stock in the period of the last 12 months amounting to 3.59. The Price to Book ratio for the last quarter was 8.05, with the Price to Cash per share for the same quarter was set at 4.56. Price to Free Cash Flow for PSTG in the course of the last twelve months was 65.21 with Quick ratio for the last quarter at 2.40.

PSTG Stock Performance Analysis:

Pure Storage Inc. [PSTG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.88. With this latest performance, PSTG shares gained by 0.37% in over the last four-week period, additionally plugging by 42.76% over the last 6 months – not to mention a rise of 95.29% 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 47.23, with the RSI for the last a single of trading hit 49.40, and the three-weeks RSI is set at 47.01 for Pure Storage Inc. [PSTG]. The present Moving Average for the last 50 days of trading for this stock 23.89, while it was recorded at 21.38 for the last single week of trading, and 19.58 for the last 200 days.

Insight into Pure Storage Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Pure Storage Inc. [PSTG] shares currently have an operating margin of -13.61 and a Gross Margin at +68.27. Pure Storage Inc.’s Net Margin is presently recorded at -16.75.

Return on Total Capital for PSTG is now -14.85, given the latest momentum, and Return on Invested Capital for the company is -18.64. Return on Equity for this stock declined to -35.70, with Return on Assets sitting at -10.88. When it comes to the capital structure of this company, Pure Storage Inc. [PSTG] has a Total Debt to Total Equity ratio set at 121.12. Additionally, PSTG Total Debt to Total Capital is recorded at 54.78, with Total Debt to Total Assets ending up at 32.22. Long-Term Debt to Equity for the company is recorded at 116.82, with the Long-Term Debt to Total Capital now at 52.83.

Reflecting on the efficiency of the workforce at the company, Pure Storage Inc. [PSTG] managed to generate an average of -$74,231 per employee. Receivables Turnover for the company is 3.66 with a Total Asset Turnover recorded at a value of 0.65.Pure Storage Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.40 and a Current Ratio set at 2.50.

PSTG Stock EPS

With the latest financial reports released by the company, Pure Storage Inc. posted -0.02/share EPS, while the average EPS was predicted by analysts to be reported at -0.15/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 86.70%. 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 54.38%.

Pure Storage Inc. [PSTG] Insider Position Details

There are presently around $5,505 million, or 86.90% 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 41,161,248, which is approximately 60.828% of the company’s market cap and around 3.60% of the total institutional ownership; FMR LLC, holding 22,232,761 shares of the stock with an approximate value of $488.45 million in PSTG stocks shares; and VANGUARD GROUP INC, currently with $477.34 million in PSTG stock with ownership of nearly 2.577% 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 146 institutional holders increased their position in Pure Storage Inc. [NYSE:PSTG] by around 34,812,935 shares. Additionally, 111 investors decreased positions by around 20,683,758 shares, while 41 investors held positions by with 195,050,076 shares. The mentioned changes placed institutional holdings at 250,546,769 shares, according to the latest SEC report filing. PSTG stock had 60 new institutional investments in for a total of 3,079,885 shares, while 32 institutional investors sold positions of 2,957,966 shares during the same period.

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