Wall Street Analyst Initiated Pure Storage Inc [PSTG]. What else is Wall St. saying

Pure Storage Inc [NYSE: PSTG] closed the trading session at $37.44 on 01/08/24. The day’s price range saw the stock hit a low of $35.90, while the highest price level was $37.445. The company report on January 2, 2024 at 6:21 PM that Pure Storage Set to Join S&P MidCap 400; Patterson Companies to Join S&P SmallCap 600.

Pure Storage Inc. (NYSE:PSTG) will replace Patterson Companies Inc. (NASD:PDCO) in the S&P MidCap 400, and Patterson Companies will replace Chico’s FAS Inc. (NYSE:CHS) in the S&P SmallCap 600 effective prior to the opening of trading on Friday, January 5. Sycamore Partners is acquiring Chico’s FAS in a transaction expected to be completed on or about that date pending final conditions. Patterson Companies has a market capitalization that is more representative of the small-cap market space.

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Following is a summary of the changes that will take place prior to the open of trading on the effective date:.

The stocks have a year to date performance of 4.99 percent and weekly performance of 4.99 percent. The stock has been moved at -1.84 percent over the last six months. The stock has performed 17.70 percent around the most recent 30 days and changed 5.91 percent over the most recent 3-months.

If compared to the average trading volume of 4.08M shares, PSTG reached to a volume of 6973905 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 $42.11 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 1.25. 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.

Guggenheim have made an estimate for Pure Storage Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 07, 2023.

The Average True Range (ATR) for Pure Storage Inc is set at 1.18, with the Price to Sales ratio for PSTG stock in the period of the last 12 months amounting to 4.15. 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 4.28. Price to Free Cash Flow for PSTG in the course of the last twelve months was 26.03 with Quick ratio for the last quarter at 1.72.

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 4.99. With this latest performance, PSTG shares gained by 17.70% in over the last four-week period, additionally sinking by -1.84% over the last 6 months – not to mention a rise of 43.83% 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 59.04, with the RSI for the last a single of trading hit 62.29, and the three-weeks RSI is set at 56.83 for Pure Storage Inc [PSTG]. The present Moving Average for the last 50 days of trading for this stock 35.30, while it was recorded at 36.29 for the last single week of trading, and 33.27 for the last 200 days.

Pure Storage Inc [PSTG]: An insightful look at the core fundamentals

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 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 8.28%.

Pure Storage Inc [PSTG]: Institutional Ownership

The top three institutional holders of PSTG stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in PSTG stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in PSTG stock with ownership which is approximately 5.8325%.