Pure Storage Inc. [NYSE: PSTG] stock went on an upward path that rose over 1.75% on Wednesday, amounting to a one-week price increase of more than 7.50%. The company report on May 27, 2021 that Pure Storage Announces First Quarter Fiscal 2022 Financial Results.
Return to double digit revenue growth of 12% year-over-year.
New customer additions of approximately 330 this quarter, up 15% year-over-year.
Over the last 12 months, PSTG stock rose by 10.54%. The one-year Pure Storage Inc. stock forecast points to a potential upside of 32.23. The average equity rating for PSTG stock is currently 2.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $5.33 billion, with 274.42 million shares outstanding and 268.87 million shares in the current float. Compared to the average trading volume of 4.91M shares, PSTG stock reached a trading volume of 5086748 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 $28.33 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.
Stifel have made an estimate for Pure Storage Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on May 21, 2021. The new note on the price target was released on May 13, 2021, representing the official price target for Pure Storage Inc. stock. Previously, the target price had yet another raise to $25, while KeyBanc Capital Markets analysts kept a Overweight rating on PSTG stock.
The Average True Range (ATR) for Pure Storage Inc. is set at 0.70, with the Price to Sales ratio for PSTG stock in the period of the last 12 months amounting to 3.17. The Price to Book ratio for the last quarter was 7.03, with the Price to Cash per share for the same quarter was set at 4.51. Price to Free Cash Flow for PSTG in the course of the last twelve months was 57.61 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 7.50. With this latest performance, PSTG shares dropped by -9.00% in over the last four-week period, additionally sinking by -2.49% over the last 6 months – not to mention a rise of 10.54% 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 50.41, with the RSI for the last a single of trading hit 59.13, and the three-weeks RSI is set at 46.64 for Pure Storage Inc. [PSTG]. The present Moving Average for the last 50 days of trading for this stock 20.34, while it was recorded at 18.82 for the last single week of trading, and 20.05 for the last 200 days.
Insight into Pure Storage Inc. Fundamentals:
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 $4,520 million, or 83.40% 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 32,887,736, which is approximately -20.1% of the company’s market cap and around 3.60% of the total institutional ownership; VANGUARD GROUP INC, holding 23,509,390 shares of the stock with an approximate value of $443.62 million in PSTG stocks shares; and FMR LLC, currently with $352.57 million in PSTG stock with ownership of nearly -15.961% of the company’s market capitalization.
174 institutional holders increased their position in Pure Storage Inc. [NYSE:PSTG] by around 25,964,857 shares. Additionally, 123 investors decreased positions by around 37,215,690 shares, while 32 investors held positions by with 176,355,615 shares. The mentioned changes placed institutional holdings at 239,536,162 shares, according to the latest SEC report filing. PSTG stock had 62 new institutional investments in for a total of 10,502,520 shares, while 37 institutional investors sold positions of 4,546,286 shares during the same period.