Pure Storage Inc. [PSTG] Stock trading around $18.55 per share: What’s Next?

Pure Storage Inc. [NYSE: PSTG] stock went on a downward path that fall over -1.85% on Wednesday, amounting to a one-week price decrease of less than -10.95%. The company report on May 6, 2021 that Pure Storage to Announce First Quarter Fiscal 2022 Financial Results.

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Pure Storage® (NYSE: PSTG), the IT pioneer that delivers storage as-a-service in a multi-cloud world, announced it will host a conference call on Wednesday, May 26, 2021 at 2:00 p.m. PT to discuss its financial results for the fiscal first quarter ended May 2, 2021. This conference call will be held following the release of Pure Storage’s financial results.

A live audio broadcast of the conference call will be available at the Pure Storage Investor Relations website at investor.purestorage.com. A replay will be available following the call on the Pure Storage Investor Relations website or for two weeks at 833-540-1032 (or 929- 517-9662 for international callers) with passcode 9699895.

Over the last 12 months, PSTG stock rose by 40.85%. The one-year Pure Storage Inc. stock forecast points to a potential upside of 35.32. The average equity rating for PSTG stock is currently 2.10, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $5.28 billion, with 274.42 million shares outstanding and 251.41 million shares in the current float. Compared to the average trading volume of 4.85M shares, PSTG stock reached a trading volume of 5163151 in the most recent trading day, which is why market watchdogs consider the stock to be active.

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 $28.68 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.

KeyBanc Capital Markets have made an estimate for Pure Storage Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on April 23, 2021. The new note on the price target was released on March 15, 2021, representing the official price target for Pure Storage Inc. stock. Previously, the target price had yet another raise to $27, while Deutsche Bank analysts kept a Buy rating on PSTG stock. On February 25, 2021, analysts increased their price target for PSTG shares from 22 to 30.

The Average True Range (ATR) for Pure Storage Inc. is set at 0.73, with the Price to Sales ratio for PSTG stock in the period of the last 12 months amounting to 3.13. The Price to Book ratio for the last quarter was 6.79, with the Price to Cash per share for the same quarter was set at 4.41. Price to Free Cash Flow for PSTG in the course of the last twelve months was 56.99 with Quick ratio for the last quarter at 2.40.

PSTG Stock Performance Analysis:

Pure Storage Inc. [PSTG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -10.95. With this latest performance, PSTG shares dropped by -16.06% in over the last four-week period, additionally plugging by 11.88% over the last 6 months – not to mention a rise of 40.85% 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 28.48, with the RSI for the last a single of trading hit 20.58, and the three-weeks RSI is set at 33.92 for Pure Storage Inc. [PSTG]. The present Moving Average for the last 50 days of trading for this stock 21.65, while it was recorded at 19.56 for the last single week of trading, and 20.01 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 $4,580 million, or 86.80% 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 $420.2 million in PSTG stocks shares; and VANGUARD GROUP INC, currently with $410.64 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 May and at the time of the May reporting period, where 147 institutional holders increased their position in Pure Storage Inc. [NYSE:PSTG] by around 31,601,671 shares. Additionally, 119 investors decreased positions by around 28,291,783 shares, while 41 investors held positions by with 182,417,069 shares. The mentioned changes placed institutional holdings at 242,310,523 shares, according to the latest SEC report filing. PSTG stock had 61 new institutional investments in for a total of 3,103,432 shares, while 36 institutional investors sold positions of 2,925,945 shares during the same period.

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