Pure Storage Inc. [PSTG] Stock trading around $29.84 per share: What’s Next?

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Pure Storage Inc. [NYSE: PSTG] loss -0.73% on the last trading session, reaching $29.84 price per share at the time. The company report on April 13, 2022 that Pure Storage FlashBlade Tames Unstructured Data Challenges for Autonomous Travel Solutions.

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More than 10 leading autonomous vehicle software development companies rely on Pure to accelerate innovation.

Pure Storage® (NYSE: PSTG), the IT pioneer that delivers the world’s most advanced data storage technology and services, is empowering autonomous travel software solutions to meet the highly parallel, multi-dimensional performance demands of modern unstructured data.

Pure Storage Inc. represents 291.77 million in outstanding shares, while the company has a total market value of $9.35 billion with the latest information. PSTG stock price has been found in the range of $29.67 to $30.68.

If compared to the average trading volume of 3.75M shares, PSTG reached a trading volume of 3455764 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $38.35 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 1.80. 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.

UBS have made an estimate for Pure Storage Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on April 05, 2022. While these analysts kept the previous recommendation, Wells Fargo raised their target price from $37 to $40. The new note on the price target was released on March 03, 2022, representing the official price target for Pure Storage Inc. stock. Previously, the target price had yet another raise from $33 to $34, while Wedbush kept a Neutral rating on PSTG stock. On March 03, 2022, analysts increased their price target for PSTG shares from 38 to 39.

The Average True Range (ATR) for Pure Storage Inc. is set at 1.08, with the Price to Sales ratio for PSTG stock in the period of the last 12 months amounting to 4.29. The Price to Book ratio for the last quarter was 11.52, 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 30.37 with Quick ratio for the last quarter at 2.30.

Trading performance analysis for PSTG stock

Pure Storage Inc. [PSTG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.24. With this latest performance, PSTG shares dropped by -17.00% in over the last four-week period, additionally plugging by 11.59% over the last 6 months – not to mention a rise of 43.25% 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 40.14, with the RSI for the last a single of trading hit 36.05, and the three-weeks RSI is set at 43.93 for Pure Storage Inc. [PSTG]. The present Moving Average for the last 50 days of trading for this stock 30.96, while it was recorded at 30.11 for the last single week of trading, and 27.44 for the last 200 days.

Pure Storage Inc. [PSTG]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Pure Storage Inc. [PSTG] shares currently have an operating margin of -4.51 and a Gross Margin at +67.52. Pure Storage Inc.’s Net Margin is presently recorded at -6.57.

Return on Equity for this stock declined to -19.05, with Return on Assets sitting at -4.81.

Pure Storage Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.30 and a Current Ratio set at 2.30.

Pure Storage Inc. [PSTG]: An earnings per share (EPS) analysis

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 65.14%.

An analysis of insider ownership at Pure Storage Inc. [PSTG]

There are presently around $7,232 million, or 82.80% of PSTG stock, in the hands of institutional investors. The top three institutional holders of PSTG stocks are: FMR LLC with ownership of 30,191,038, which is approximately 18.977% of the company’s market cap and around 3.70% of the total institutional ownership; VANGUARD GROUP INC, holding 27,165,387 shares of the stock with an approximate value of $816.59 million in PSTG stocks shares; and CHAMPLAIN INVESTMENT PARTNERS, LLC, currently with $520.57 million in PSTG stock with ownership of nearly -0.884% of the company’s market capitalization.

Positions in Pure Storage Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 212 institutional holders increased their position in Pure Storage Inc. [NYSE:PSTG] by around 30,630,965 shares. Additionally, 148 investors decreased positions by around 26,544,387 shares, while 45 investors held positions by with 183,406,385 shares. The mentioned changes placed institutional holdings at 240,581,737 shares, according to the latest SEC report filing. PSTG stock had 89 new institutional investments in for a total of 11,400,946 shares, while 30 institutional investors sold positions of 4,897,293 shares during the same period.