Pure Storage Inc. [NYSE: PSTG] stock went on a downward path that fall over -7.40% on Thursday, amounting to a one-week price decrease of less than -9.16%. The company report on May 3, 2022 that Pure Storage FlashBlade Accelerates Time-to-Market for EDA Workloads.
Half of the top semiconductor companies rely on Pure to fast-track innovation.
Pure Storage® (NYSE: PSTG), the IT pioneer that delivers the world’s most advanced data storage technology and services, is empowering electronic design automation (EDA) workloads and accelerating next-gen chip design.
Over the last 12 months, PSTG stock rose by 52.05%. The one-year Pure Storage Inc. stock forecast points to a potential upside of 27.56. The average equity rating for PSTG stock is currently 1.80, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $8.65 billion, with 291.77 million shares outstanding and 279.81 million shares in the current float. Compared to the average trading volume of 3.67M shares, PSTG stock reached a trading volume of 4174102 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 $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 1.26, with the Price to Sales ratio for PSTG stock in the period of the last 12 months amounting to 3.97. The Price to Book ratio for the last quarter was 10.73, with the Price to Cash per share for the same quarter was set at 4.54. Price to Free Cash Flow for PSTG in the course of the last twelve months was 28.12 with Quick ratio for the last quarter at 2.30.
PSTG Stock Performance Analysis:
Pure Storage Inc. [PSTG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -9.16. With this latest performance, PSTG shares dropped by -17.12% in over the last four-week period, additionally sinking by -0.68% over the last 6 months – not to mention a rise of 52.05% 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 35.56, with the RSI for the last a single of trading hit 31.81, and the three-weeks RSI is set at 39.25 for Pure Storage Inc. [PSTG]. The present Moving Average for the last 50 days of trading for this stock 31.34, while it was recorded at 29.22 for the last single week of trading, and 27.76 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 2.30 and a Current Ratio set at 2.30.
PSTG Stock EPS
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%.
Pure Storage Inc. [PSTG] Insider Position Details
There are presently around $7,218 million, or 83.10% 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 $814.96 million in PSTG stocks shares; and CHAMPLAIN INVESTMENT PARTNERS, LLC, currently with $519.53 million in PSTG stock with ownership of nearly -0.884% of the company’s market capitalization.
202 institutional holders increased their position in Pure Storage Inc. [NYSE:PSTG] by around 30,405,420 shares. Additionally, 158 investors decreased positions by around 25,990,977 shares, while 49 investors held positions by with 184,192,893 shares. The mentioned changes placed institutional holdings at 240,589,290 shares, according to the latest SEC report filing. PSTG stock had 80 new institutional investments in for a total of 10,776,501 shares, while 34 institutional investors sold positions of 4,970,761 shares during the same period.