Pure Storage Inc. [PSTG] is -10.84% lower this YTD. Is it still time to buy?

Pure Storage Inc. [NYSE: PSTG] loss -2.77% on the last trading session, reaching $23.86 price per share at the time.

Pure Storage Inc. represents 303.61 million in outstanding shares, while the company has a total market value of $7.37 billion with the latest information. PSTG stock price has been found in the range of $23.79 to $24.24.

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If compared to the average trading volume of 5.52M shares, PSTG reached a trading volume of 6246995 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $35.68 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.

Wedbush have made an estimate for Pure Storage Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on April 06, 2023. While these analysts kept the previous recommendation, Morgan Stanley raised their target price from $35 to $37. The new note on the price target was released on October 31, 2022, representing the official price target for Pure Storage Inc. stock. Previously, the target price had yet another raise to $36, while Credit Suisse analysts kept a Outperform rating on PSTG stock. On May 20, 2022, analysts decreased their price target for PSTG shares from 34 to 27.

The Average True Range (ATR) for Pure Storage Inc. is set at 0.74, with the Price to Sales ratio for PSTG stock in the period of the last 12 months amounting to 2.68. The Price to Book ratio for the last quarter was 7.70, with the Price to Cash per share for the same quarter was set at 5.12. Price to Free Cash Flow for PSTG in the course of the last twelve months was 12.10 with Quick ratio for the last quarter at 1.40.

Trading performance analysis for PSTG stock

Pure Storage Inc. [PSTG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.69. With this latest performance, PSTG shares dropped by -4.86% in over the last four-week period, additionally sinking by -14.23% over the last 6 months – not to mention a drop of -22.88% 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 36.29, with the RSI for the last a single of trading hit 29.80, and the three-weeks RSI is set at 39.22 for Pure Storage Inc. [PSTG]. The present Moving Average for the last 50 days of trading for this stock 26.31, while it was recorded at 25.29 for the last single week of trading, and 27.98 for the last 200 days.

Pure Storage Inc. [PSTG]: A deeper dive into fundamental analysis

Pure Storage Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.40 and a Current Ratio set at 1.40.

Pure Storage Inc. [PSTG]: An earnings per share (EPS) analysis

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 32.23%.

An analysis of insider ownership at Pure Storage Inc. [PSTG]

There are presently around $6,611 million, or 88.00% of PSTG stock, in the hands of institutional investors. The top three institutional holders of PSTG stocks are: FMR LLC with ownership of 40,587,363, which is approximately 8.982% of the company’s market cap and around 3.60% of the total institutional ownership; VANGUARD GROUP INC, holding 27,762,874 shares of the stock with an approximate value of $681.3 million in PSTG stocks shares; and BLACKROCK INC., currently with $380.25 million in PSTG stock with ownership of nearly 1.368% of the company’s market capitalization.

241 institutional holders increased their position in Pure Storage Inc. [NYSE:PSTG] by around 34,394,835 shares. Additionally, 176 investors decreased positions by around 21,603,683 shares, while 51 investors held positions by with 213,387,090 shares. The mentioned changes placed institutional holdings at 269,385,608 shares, according to the latest SEC report filing. PSTG stock had 75 new institutional investments in for a total of 4,225,235 shares, while 34 institutional investors sold positions of 3,562,483 shares during the same period.


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