Pure Storage Inc. [PSTG] Revenue clocked in at $2.39 billion, down -16.65% YTD: What’s Next?


Pure Storage Inc. [NYSE: PSTG] surged by $0.56 during the normal trading session on Wednesday and reaching a high of $27.595 during the day while it closed the day at $27.13. The company report on June 8, 2022 that Pure Storage Introduces FlashBlade//S: A Revolutionary Platform that Addresses the Demands of Unstructured Data and Modern Application Growth.

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New architecture disaggregates resources to give customers the freedom to scale in any direction, unlocking the most diverse set of workloads while providing investment protection.

Today at Pure//Accelerate® techfest22, Pure Storage® (NYSE: PSTG), the IT pioneer that delivers the world’s most advanced data storage technology and services, announced the FlashBlade®//S family of products with a new modular architecture built on uniquely co-designed hardware and software. The new platform leverages a nearly unlimited scalable metadata architecture, offering more than double the density, performance, and power efficiency of previous versions. The platform evolves over time in alignment with customer requirements.

Pure Storage Inc. stock has also gained 6.35% of its value over the past 7 days. However, PSTG stock has declined by -12.31% in the 3 months of the year. Over the past six months meanwhile, it has gained 2.34% and lost -16.65% year-on date.

The market cap for PSTG stock reached $7.95 billion, with 295.84 million shares outstanding and 278.05 million shares in the current float. Compared to the average trading volume of 3.88M shares, PSTG reached a trading volume of 3990995 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 $36.18 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.

BofA Securities have made an estimate for Pure Storage Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on May 20, 2022. While these analysts kept the previous recommendation, UBS raised their target price to Neutral. The new note on the price target was released on April 05, 2022, representing the official price target for Pure Storage Inc. stock. Previously, the target price had yet another raise from $37 to $40, while Wells Fargo kept a Overweight rating on PSTG stock. On March 03, 2022, analysts increased their price target for PSTG shares from 33 to 34.

The Average True Range (ATR) for Pure Storage Inc. is set at 1.01, with the Price to Sales ratio for PSTG stock in the period of the last 12 months amounting to 3.33. The Price to Book ratio for the last quarter was 11.03, with the Price to Cash per share for the same quarter was set at 4.41.

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 6.35. With this latest performance, PSTG shares gained by 7.11% in over the last four-week period, additionally plugging by 2.34% over the last 6 months – not to mention a rise of 37.02% 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 58.55, with the RSI for the last a single of trading hit 65.93, and the three-weeks RSI is set at 54.38 for Pure Storage Inc. [PSTG]. The present Moving Average for the last 50 days of trading for this stock 25.63, while it was recorded at 26.22 for the last single week of trading, and 28.44 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 -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 1.30 and a Current Ratio set at 1.30.

Pure Storage Inc. [PSTG]: Insider Ownership positions

There are presently around $6,648 million, or 85.30% of PSTG stock, in the hands of institutional investors. The top three institutional holders of PSTG stocks are: FMR LLC with ownership of 33,074,113, which is approximately 9.549% of the company’s market cap and around 3.80% of the total institutional ownership; VANGUARD GROUP INC, holding 27,369,119 shares of the stock with an approximate value of $742.52 million in PSTG stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $497.07 million in PSTG stock with ownership of nearly 23.651% of the company’s market capitalization.

Positions in Pure Storage Inc. stocks held by institutional investors increased at the end of June and at the time of the June reporting period, where 205 institutional holders increased their position in Pure Storage Inc. [NYSE:PSTG] by around 31,844,166 shares. Additionally, 179 investors decreased positions by around 27,031,390 shares, while 55 investors held positions by with 186,159,341 shares. The mentioned changes placed institutional holdings at 245,034,897 shares, according to the latest SEC report filing. PSTG stock had 70 new institutional investments in for a total of 13,000,065 shares, while 47 institutional investors sold positions of 5,796,956 shares during the same period.