For Pure Storage Inc. [PSTG], Analyst sees a rise to $36. What next?

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Pure Storage Inc. [NYSE: PSTG] surged by $3.67 during the normal trading session on Wednesday and reaching a high of $31.88 during the day while it closed the day at $30.95. The company report on November 23, 2021 that Pure Storage Announces Third Quarter Fiscal 2022 Financial Results.

Q3 revenue growing 37% year-over-year.


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Pure Storage Inc. stock has also gained 11.69% of its value over the past 7 days. However, PSTG stock has inclined by 29.82% in the 3 months of the year. Over the past six months meanwhile, it has gained 62.13% and gained 36.89% year-on date.

The market cap for PSTG stock reached $8.98 billion, with 283.93 million shares outstanding and 267.74 million shares in the current float. Compared to the average trading volume of 3.70M shares, PSTG reached a trading volume of 14661714 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 $31.29 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.

Telsey Advisory Group have made an estimate for Pure Storage Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on November 24, 2021. The new note on the price target was released on May 21, 2021, representing the official price target for Pure Storage Inc. stock. Previously, the target price had yet another raise to $30, while Evercore ISI analysts kept a Outperform rating on PSTG stock.

The Average True Range (ATR) for Pure Storage Inc. is set at 1.04, with the Price to Sales ratio for PSTG stock in the period of the last 12 months amounting to 4.93. The Price to Book ratio for the last quarter was 12.58, 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 61.95 with Quick ratio for the last quarter at 2.40.

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 11.69. With this latest performance, PSTG shares gained by 15.74% in over the last four-week period, additionally plugging by 62.13% over the last 6 months – not to mention a rise of 56.63% 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 73.08, with the RSI for the last a single of trading hit 76.80, and the three-weeks RSI is set at 70.50 for Pure Storage Inc. [PSTG]. The present Moving Average for the last 50 days of trading for this stock 26.78, while it was recorded at 28.32 for the last single week of trading, and 22.51 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 -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 per share (EPS) analysis for Pure Storage Inc. [PSTG] stock

With the latest financial reports released by the company, Pure Storage Inc. posted 0.01/share EPS, while the average EPS was predicted by analysts to be reported at 0/share. 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%.

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Pure Storage Inc. [PSTG]: Insider Ownership positions

There are presently around $6,482 million, or 84.70% of PSTG stock, in the hands of institutional investors. The top three institutional holders of PSTG stocks are: VANGUARD GROUP INC with ownership of 25,414,872, which is approximately 3.471% of the company’s market cap and around 3.50% of the total institutional ownership; FMR LLC, holding 25,375,592 shares of the stock with an approximate value of $692.25 million in PSTG stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $493.17 million in PSTG stock with ownership of nearly -1.236% of the company’s market capitalization.

Positions in Pure Storage Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 171 institutional holders increased their position in Pure Storage Inc. [NYSE:PSTG] by around 38,368,251 shares. Additionally, 132 investors decreased positions by around 37,702,778 shares, while 43 investors held positions by with 161,524,029 shares. The mentioned changes placed institutional holdings at 237,595,058 shares, according to the latest SEC report filing. PSTG stock had 58 new institutional investments in for a total of 6,877,915 shares, while 34 institutional investors sold positions of 18,331,640 shares during the same period.

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