Market Analysts see Pure Storage Inc [PSTG] falling to $42. Time to buy?

Pure Storage Inc [NYSE: PSTG] traded at a low on 12/05/23, posting a -0.91 loss after which it closed the day’ session at $32.59. The company report on December 5, 2023 at 9:00 AM that Pure Storage Appoints Lynn Lucas as Chief Marketing Officer.

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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 the appointment of Lynn Lucas as its Chief Marketing Officer (CMO). She will report directly to Pure Storage Chief Operating Officer Matt Burr.

The results of the trading session contributed to over 3974573 shares changing hands. Over the past one week, the price volatility of Pure Storage Inc stands at 4.20% while the volatility over the past one month is 2.71%.

The market cap for PSTG stock reached $10.17 billion, with 304.08 million shares outstanding and 292.19 million shares in the current float. Compared to the average trading volume of 3.02M shares, PSTG reached a trading volume of 3974573 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 $41.59 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 1.26. 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.

TD Cowen have made an estimate for Pure Storage Inc shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on November 30, 2023.

The Average True Range (ATR) for Pure Storage Inc is set at 1.36, with the Price to Sales ratio for PSTG stock in the period of the last 12 months amounting to 3.57. The Price to Book ratio for the last quarter was 10.30, with the Price to Cash per share for the same quarter was set at 4.33. Price to Free Cash Flow for PSTG in the course of the last twelve months was 21.40 with Quick ratio for the last quarter at 1.72.

How has PSTG stock performed recently?

Pure Storage Inc [PSTG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -9.14. With this latest performance, PSTG shares dropped by -6.78% in over the last four-week period, additionally sinking by -6.62% over the last 6 months – not to mention a rise of 10.06% 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 37.62, with the RSI for the last a single of trading hit 32.83, and the three-weeks RSI is set at 40.54 for Pure Storage Inc [PSTG]. The present Moving Average for the last 50 days of trading for this stock 35.03, while it was recorded at 33.97 for the last single week of trading, and 32.20 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 +3.03 and a Gross Margin at +68.92. Pure Storage Inc’s Net Margin is presently recorded at +2.65.

Return on Total Capital for PSTG is now 4.95, given the latest momentum, and Return on Invested Capital for the company is 5.37. Return on Equity for this stock inclined to 8.62, with Return on Assets sitting at 2.19. When it comes to the capital structure of this company, Pure Storage Inc [PSTG] has a Total Debt to Total Equity ratio set at 80.84. Additionally, PSTG Total Debt to Total Capital is recorded at 44.70, with Total Debt to Total Assets ending up at 21.47. Long-Term Debt to Equity for the company is recorded at 15.64, with the Long-Term Debt to Total Capital now at 8.65.

Reflecting on the efficiency of the workforce at the company, Pure Storage Inc [PSTG] managed to generate an average of $14,328 per employee. Receivables Turnover for the company is 4.77 with a Total Asset Turnover recorded at a value of 0.82.Pure Storage Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.72 and a Current Ratio set at 1.76.

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 8.28%.

Insider trade positions for Pure Storage Inc [PSTG]

The top three institutional holders of PSTG stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in PSTG stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in PSTG stock with ownership which is approximately 5.7994%.