Pure Storage Inc. [PSTG] moved up 3.91: Why It’s Important

Pure Storage Inc. [NYSE: PSTG] closed the trading session at $31.34 on 08/18/22. The day’s price range saw the stock hit a low of $30.23, while the highest price level was $31.52. The company report on August 10, 2022 that Pure Storage Announces Date and Conference Call Information for Second Quarter Fiscal 2023 Financial Results.

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Pure Storage® (NYSE: PSTG), the IT pioneer that delivers the world’s most advanced data storage technology and services, today announced it will host a conference call on Wednesday, August 31 at 1:30 p.m. PT to discuss its financial results for the fiscal second quarter ended August 7, 2022. This conference call will be held following the release of Pure Storage’s financial results.

Q2 FY23 Conference Call Details A live audio broadcast of the conference call will be available at the Pure Storage Investor Relations website at investor.purestorage.com. A replay will be available following the call on the Pure Storage Investor Relations website or for two weeks at 1-866-813-9403 (or +44 204 525 0658 for international callers) with passcode 367923.

The stocks have a year to date performance of -3.72 percent and weekly performance of 3.74 percent. The stock has been moved at 14.21 percent over the last six months. The stock has performed 15.52 percent around the most recent 30 days and changed 22.57 percent over the most recent 3-months.

If compared to the average trading volume of 3.58M shares, PSTG reached to a volume of 4919741 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 $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 2.00. 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.

Credit Suisse have made an estimate for Pure Storage Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on August 17, 2022. While these analysts kept the previous recommendation, BofA Securities dropped their target price from $34 to $27. The new note on the price target was released on May 20, 2022, representing the official price target for Pure Storage Inc. stock. Previously, the target price had yet another raise to $36, while UBS analysts kept a Neutral rating on PSTG stock. On March 03, 2022, analysts increased their price target for PSTG shares from 37 to 40.

The Average True Range (ATR) for Pure Storage Inc. is set at 0.81, with the Price to Sales ratio for PSTG stock in the period of the last 12 months amounting to 3.86. The Price to Book ratio for the last quarter was 12.74, with the Price to Cash per share for the same quarter was set at 4.39.

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 3.74. With this latest performance, PSTG shares gained by 15.52% in over the last four-week period, additionally plugging by 14.21% over the last 6 months – not to mention a rise of 63.06% 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 74.17, with the RSI for the last a single of trading hit 79.81, and the three-weeks RSI is set at 68.29 for Pure Storage Inc. [PSTG]. The present Moving Average for the last 50 days of trading for this stock 27.20, while it was recorded at 30.48 for the last single week of trading, and 28.75 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 $7,773 million, or 83.90% of PSTG stock, in the hands of institutional investors. The top three institutional holders of PSTG stocks are: FMR LLC with ownership of 36,316,619, which is approximately 9.804% of the company’s market cap and around 3.80% of the total institutional ownership; VANGUARD GROUP INC, holding 27,715,902 shares of the stock with an approximate value of $868.62 million in PSTG stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $535.91 million in PSTG stock with ownership of nearly -6.669% of the company’s market capitalization.

Positions in Pure Storage Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 203 institutional holders increased their position in Pure Storage Inc. [NYSE:PSTG] by around 23,753,093 shares. Additionally, 197 investors decreased positions by around 21,360,912 shares, while 60 investors held positions by with 202,903,272 shares. The mentioned changes placed institutional holdings at 248,017,277 shares, according to the latest SEC report filing. PSTG stock had 67 new institutional investments in for a total of 4,346,318 shares, while 65 institutional investors sold positions of 3,006,555 shares during the same period.


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