Wall Street Analyst Upgrade Pure Storage Inc. [PSTG]. What else is Wall St. saying

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Pure Storage Inc. [NYSE: PSTG] jumped around 0.37 points on Thursday, while shares priced at $26.26 at the close of the session, up 1.43%. The company report on October 14, 2021 that Pure Storage Named a Leader in 2021 Gartner Magic Quadrant for Primary Storage.

A storage Leader for eight consecutive years, Pure is also #1 in Containers in Gartner’s Critical Capabilities for Primary Storage.


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Pure Storage (NYSE: PSTG), the IT pioneer that delivers storage as-a-service in a multi-cloud world, announced it has been positioned by Gartner® as a Leader in the Magic Quadrant™ for Primary Storage. This is the eighth year in a row that Gartner has named Pure a storage leader and the second year in a row Pure has been positioned highest on the ability to execute axis and furthest on the completeness of vision axis.

Pure Storage Inc. stock is now 16.14% up from its year-to-date (YTD) trading value. PSTG Stock saw the intraday high of $26.33 and lowest of $25.78 per share. The company’s 52-week high price is 29.53, which means current price is +56.40% above from all time high which was touched on 02/16/21.

Compared to the average trading volume of 3.98M shares, PSTG reached a trading volume of 2080198 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $29.79 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 1.90. 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 0.69, with the Price to Sales ratio for PSTG stock in the period of the last 12 months amounting to 4.11. The Price to Book ratio for the last quarter was 10.67, 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 51.61 with Quick ratio for the last quarter at 2.40.

How has PSTG stock performed recently?

Pure Storage Inc. [PSTG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.19. With this latest performance, PSTG shares dropped by -0.49% in over the last four-week period, additionally plugging by 25.59% over the last 6 months – not to mention a rise of 46.13% 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 57.90, with the RSI for the last a single of trading hit 58.67, and the three-weeks RSI is set at 58.72 for Pure Storage Inc. [PSTG]. The present Moving Average for the last 50 days of trading for this stock 24.71, while it was recorded at 26.08 for the last single week of trading, and 22.10 for the last 200 days.

Pure Storage Inc. [PSTG]: Deeper insight into the 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.

Earnings analysis for Pure Storage Inc. [PSTG]

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 73.39%.

Insider trade positions for Pure Storage Inc. [PSTG]

There are presently around $6,237 million, or 83.00% of PSTG stock, in the hands of institutional investors. The top three institutional holders of PSTG stocks are: VANGUARD GROUP INC with ownership of 24,562,328, which is approximately 4.479% of the company’s market cap and around 3.50% of the total institutional ownership; FMR LLC, holding 19,878,474 shares of the stock with an approximate value of $522.01 million in PSTG stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $480.67 million in PSTG stock with ownership of nearly 28.962% 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 August and at the time of the August reporting period, where 165 institutional holders increased their position in Pure Storage Inc. [NYSE:PSTG] by around 29,451,426 shares. Additionally, 118 investors decreased positions by around 31,918,798 shares, while 39 investors held positions by with 176,156,881 shares. The mentioned changes placed institutional holdings at 237,527,105 shares, according to the latest SEC report filing. PSTG stock had 34 new institutional investments in for a total of 2,902,814 shares, while 34 institutional investors sold positions of 4,568,397 shares during the same period.

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