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


Pure Storage Inc. [NYSE: PSTG] traded at a low on 01/06/22, posting a -0.39 loss after which it closed the day’ session at $30.66. The company report on January 4, 2022 that Pure Storage Powers Government Infrastructure Modernization and Cloud Transformation.

40% of U.S. federal agencies, including three branches of the Department of Defense, rely on Pure Storage.

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Pure Storage® (NYSE: PSTG), the IT pioneer that delivers storage as-a-service in a multi-cloud world, today announced new momentum within the U.S. public sector as government plans for infrastructure modernization accelerate.

The results of the trading session contributed to over 3518390 shares changing hands. Over the past one week, the price volatility of Pure Storage Inc. stands at 3.51% while the volatility over the past one month is 3.56%.

The market cap for PSTG stock reached $8.91 billion, with 287.46 million shares outstanding and 277.28 million shares in the current float. Compared to the average trading volume of 3.60M shares, PSTG reached a trading volume of 3518390 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 $35.94 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 1.26, with the Price to Sales ratio for PSTG stock in the period of the last 12 months amounting to 4.51. The Price to Book ratio for the last quarter was 12.17, with the Price to Cash per share for the same quarter was set at 4.69. Price to Free Cash Flow for PSTG in the course of the last twelve months was 37.38 with Quick ratio for the last quarter at 2.40.

How has PSTG stock performed recently?

Pure Storage Inc. [PSTG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.04. With this latest performance, PSTG shares dropped by -7.98% in over the last four-week period, additionally plugging by 59.52% over the last 6 months – not to mention a rise of 29.64% 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 42.64, with the RSI for the last a single of trading hit 33.05, and the three-weeks RSI is set at 48.06 for Pure Storage Inc. [PSTG]. The present Moving Average for the last 50 days of trading for this stock 30.35, while it was recorded at 31.53 for the last single week of trading, and 23.70 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 76.68%.

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Insider trade positions for Pure Storage Inc. [PSTG]

There are presently around $7,190 million, or 83.60% 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 3.40% of the total institutional ownership; FMR LLC, holding 25,375,592 shares of the stock with an approximate value of $781.06 million in PSTG stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $556.44 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 170 institutional holders increased their position in Pure Storage Inc. [NYSE:PSTG] by around 38,351,317 shares. Additionally, 130 investors decreased positions by around 37,443,746 shares, while 43 investors held positions by with 157,807,825 shares. The mentioned changes placed institutional holdings at 233,602,888 shares, according to the latest SEC report filing. PSTG stock had 59 new institutional investments in for a total of 6,896,449 shares, while 34 institutional investors sold positions of 18,524,196 shares during the same period.