Pure Storage Inc [NYSE: PSTG] traded at a high on Wednesday, posting a 1.54 gain after which it closed the day’ session at $42.12. The company report on February 28, 2024 at 4:05 PM that Pure Storage Announces Fiscal Fourth Quarter and Full Year 2024 Financial Results.
FY24 TCV sales growth of Evergreen//One and Evergreen//Flex offerings exceeding 100%Q4 RPO growing 31% year-over-year.
Today Pure Storage (NYSE: PSTG), the IT pioneer that delivers the world’s most advanced data storage technology and services, announced financial results for its fiscal fourth quarter and full year 2024 ended February 4, 2024.
The results of the trading session contributed to over 6883013 shares changing hands. Over the past one week, the price volatility of Pure Storage Inc stands at 2.64% while the volatility over the past one month is 2.82%.
The market cap for PSTG stock reached $13.31 billion, with 304.08 million shares outstanding and 296.13 million shares in the current float. Compared to the average trading volume of 4.99M shares, PSTG reached a trading volume of 6883013 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 $44.71 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 1.37. 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.
Stifel have made an estimate for Pure Storage Inc shares, keeping their opinion on the stock as Hold, with their previous recommendation back on February 14, 2024. While these analysts kept the previous recommendation, Guggenheim raised their target price to Buy. The new note on the price target was released on December 07, 2023, representing the official price target for Pure Storage Inc stock. Previously, the target price had yet another drop from $50 to $42, while TD Cowen kept a Outperform rating on PSTG stock. On August 31, 2023, analysts increased their price target for PSTG shares from 44 to 50.
The Average True Range (ATR) for Pure Storage Inc is set at 1.38, with the Price to Sales ratio for PSTG stock in the period of the last 12 months amounting to 4.67. The Price to Book ratio for the last quarter was 11.59, 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 29.28 with Quick ratio for the last quarter at 1.72.
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 7.37. With this latest performance, PSTG shares gained by 1.57% in over the last four-week period, additionally plugging by 16.97% over the last 6 months – not to mention a rise of 47.22% 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 54.30, with the RSI for the last a single of trading hit 53.73, and the three-weeks RSI is set at 55.08 for Pure Storage Inc [PSTG]. The present Moving Average for the last 50 days of trading for this stock 39.45, while it was recorded at 41.37 for the last single week of trading, and 36.19 for the last 200 days.
Pure Storage Inc [PSTG]: Deeper insight into the 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 analysis for Pure Storage Inc [PSTG]
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%.
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 8.2815%. 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%.
