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

Pure Storage Inc. [NYSE: PSTG] closed the trading session at $26.44 on 10/12/22. The day’s price range saw the stock hit a low of $26.37, while the highest price level was $27.17. The company report on September 21, 2022 that Pure Storage Extends Leadership in Sustainability, Helping Customers Make Significant Strides on Their Environmental Journey.


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Pure expands environmental analysis across its full product portfolio; Pure1 Sustainability Assessment introduced to help customers measure and manage their energy use.

Pure Storage® (NYSE: PSTG), the IT pioneer that delivers the world’s most advanced data storage technology and services, today announced advancements in its sustainability efforts, helping customers dramatically reduce their energy use and environmental footprint.

The stocks have a year to date performance of -18.77 percent and weekly performance of -8.95 percent. The stock has been moved at -13.34 percent over the last six months. The stock has performed -10.80 percent around the most recent 30 days and changed 3.08 percent over the most recent 3-months.

If compared to the average trading volume of 3.25M shares, PSTG reached to a volume of 2827664 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 $38.69 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 2.10. 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 1.00, with the Price to Sales ratio for PSTG stock in the period of the last 12 months amounting to 3.21. The Price to Book ratio for the last quarter was 10.33, with the Price to Cash per share for the same quarter was set at 4.42.

PSTG stock trade performance evaluation

Pure Storage Inc. [PSTG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.95. With this latest performance, PSTG shares dropped by -10.80% in over the last four-week period, additionally sinking by -13.34% over the last 6 months – not to mention a rise of 5.00% 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 38.14, with the RSI for the last a single of trading hit 33.76, and the three-weeks RSI is set at 41.17 for Pure Storage Inc. [PSTG]. The present Moving Average for the last 50 days of trading for this stock 28.96, while it was recorded at 27.64 for the last single week of trading, and 28.43 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.

Earnings per share (EPS) analysis for Pure Storage Inc. [PSTG] stock

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 31.76%.

Pure Storage Inc. [PSTG]: Insider Ownership positions

There are presently around $6,564 million, or 84.90% 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 3.70% of the total institutional ownership; VANGUARD GROUP INC, holding 27,715,902 shares of the stock with an approximate value of $732.81 million in PSTG stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $452.12 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 207 institutional holders increased their position in Pure Storage Inc. [NYSE:PSTG] by around 23,453,350 shares. Additionally, 194 investors decreased positions by around 20,977,160 shares, while 58 investors held positions by with 203,832,946 shares. The mentioned changes placed institutional holdings at 248,263,456 shares, according to the latest SEC report filing. PSTG stock had 70 new institutional investments in for a total of 3,990,249 shares, while 62 institutional investors sold positions of 2,886,810 shares during the same period.

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