Pure Storage Inc. [PSTG] fell -2.61% so far this year. What now?

Pure Storage Inc. [NYSE: PSTG] traded at a high on 11/01/22, posting a 2.72 gain after which it closed the day’ session at $31.70. The company report on November 1, 2022 that Pure Storage Helps Financial Services Firms Harness the Power of Data to Drive Better Customer Experiences.

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9 of the top 10 global investment banks, 7 of the top 10 asset management companies, and 5 of the top 10 insurance organizations rely on Pure Storage.

Pure Storage® (NYSE: PSTG), the IT pioneer that delivers the world’s most advanced data storage technology and services, today announced continued momentum within the financial services industry as global banks, asset management firms and financial technology organizations modernize and embrace a digital-first approach.

The results of the trading session contributed to over 4196596 shares changing hands. Over the past one week, the price volatility of Pure Storage Inc. stands at 3.13% while the volatility over the past one month is 3.60%.

The market cap for PSTG stock reached $9.27 billion, with 297.48 million shares outstanding and 281.06 million shares in the current float. Compared to the average trading volume of 3.38M shares, PSTG reached a trading volume of 4196596 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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.

Morgan Stanley have made an estimate for Pure Storage Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on October 31, 2022. While these analysts kept the previous recommendation, Credit Suisse raised their target price to Outperform. The new note on the price target was released on August 17, 2022, representing the official price target for Pure Storage Inc. stock. Previously, the target price had yet another drop from $34 to $27, while BofA Securities kept a Neutral rating on PSTG stock.

The Average True Range (ATR) for Pure Storage Inc. is set at 1.05, with the Price to Sales ratio for PSTG stock in the period of the last 12 months amounting to 3.65. The Price to Book ratio for the last quarter was 12.38, with the Price to Cash per share for the same quarter was set at 4.66.

How has PSTG stock performed recently?

Pure Storage Inc. [PSTG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.42. With this latest performance, PSTG shares gained by 14.40% in over the last four-week period, additionally plugging by 8.49% over the last 6 months – not to mention a rise of 16.76% 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 71.28, with the RSI for the last a single of trading hit 79.67, and the three-weeks RSI is set at 65.57 for Pure Storage Inc. [PSTG]. The present Moving Average for the last 50 days of trading for this stock 28.59, while it was recorded at 30.44 for the last single week of trading, and 28.28 for the last 200 days.

Pure Storage Inc. [PSTG]: Deeper insight into the 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 analysis for Pure Storage Inc. [PSTG]

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%.

Insider trade positions for Pure Storage Inc. [PSTG]

There are presently around $7,895 million, or 85.00% 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 $878.59 million in PSTG stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $542.06 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 November and at the time of the November reporting period, where 212 institutional holders increased their position in Pure Storage Inc. [NYSE:PSTG] by around 25,193,121 shares. Additionally, 185 investors decreased positions by around 19,891,138 shares, while 61 investors held positions by with 203,956,692 shares. The mentioned changes placed institutional holdings at 249,040,951 shares, according to the latest SEC report filing. PSTG stock had 63 new institutional investments in for a total of 4,208,379 shares, while 57 institutional investors sold positions of 2,742,121 shares during the same period.


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