Pure Storage Inc [PSTG] Is Currently 3.00 below its 200 Period Moving Avg: What Does This Mean?

Pure Storage Inc [NYSE: PSTG] stock went on an upward path that rose over 3.00% on Wednesday, amounting to a one-week price increase of more than 13.44%. The company report on January 16, 2024 at 9:00 AM that With Pure Storage, Adistec Transforms Latin American IT While Cutting Hardware Costs up to 80% with Evergreen//Flex.

Evergreen//Flex subscription provides the freedom to own storage and the flexibility of consumption economics based on asset utilization.

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Pure Storage® (NYSE: PSTG), the IT pioneer that delivers the world’s most advanced data storage technologies and services, announced that Adistec, a leading managed services provider (MSP) in Latin America and the Caribbean, is leveraging Pure Storage’s Evergreen//Flex™ subscription to deliver crucial value-added services to public and private sector organizations in Latin America.

Over the last 12 months, PSTG stock rose by 55.05%. The one-year Pure Storage Inc stock forecast points to a potential upside of 1.66. The average equity rating for PSTG stock is currently 1.26, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $13.25 billion, with 304.08 million shares outstanding and 296.13 million shares in the current float. Compared to the average trading volume of 4.57M shares, PSTG stock reached a trading volume of 4151699 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 $42.65 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.

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 1.28, with the Price to Sales ratio for PSTG stock in the period of the last 12 months amounting to 4.65. The Price to Book ratio for the last quarter was 11.54, 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 29.16 with Quick ratio for the last quarter at 1.72.

PSTG Stock Performance Analysis:

Pure Storage Inc [PSTG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 13.44. With this latest performance, PSTG shares gained by 16.31% in over the last four-week period, additionally plugging by 8.29% over the last 6 months – not to mention a rise of 55.05% 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 71.02, with the RSI for the last a single of trading hit 76.37, and the three-weeks RSI is set at 66.86 for Pure Storage Inc [PSTG]. The present Moving Average for the last 50 days of trading for this stock 36.25, while it was recorded at 40.73 for the last single week of trading, and 34.03 for the last 200 days.

Insight into Pure Storage Inc 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.


With the latest financial reports released by the company, Pure Storage Inc posted 0.53/share EPS, while the average EPS was predicted by analysts to be reported at 0.39/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 35.90%. 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] Institutonal Ownership Details

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%.