Pure Storage Inc [NYSE: PSTG] price plunged by -3.14 percent to reach at -$1.7. The company report on March 12, 2024 at 9:00 AM that Pure Storage Enables Puerto Rico’s Largest Furniture Retailer to Drive Service Innovation, While Cutting IT Costs.
Pure Storage® (NYSE: PSTG), the IT pioneer that delivers the world’s most advanced data storage technologies and services, announced that Empresas Berríos, the largest furniture store in Puerto Rico and the biggest distribution center in Central America, is leveraging Pure Storage’s portfolio to achieve scalability and drive business growth, while advancing service innovation for its customers.
The one-year PSTG stock forecast points to a potential upside of 0.76. The average equity rating for PSTG stock is currently 1.42, trading closer to a bullish pattern in the stock market.
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 $52.76 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 1.42. 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.
Needham have made an estimate for Pure Storage Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 06, 2024. While these analysts kept the previous recommendation, TD Cowen raised their target price from $42 to $60. The new note on the price target was released on February 29, 2024, representing the official price target for Pure Storage Inc stock. Previously, the target price had yet another raise to $41, while Stifel analysts kept a Hold rating on PSTG stock.
The Average True Range (ATR) for Pure Storage Inc is set at 2.49, with the Price to Sales ratio for PSTG stock in the period of the last 12 months amounting to 5.84. The Price to Book ratio for the last quarter was 14.41, with the Price to Cash per share for the same quarter was set at 4.85. Price to Free Cash Flow for PSTG in the course of the last twelve months was 34.28 with Quick ratio for the last quarter at 1.73.
PSTG Stock Performance Analysis:
Pure Storage Inc [PSTG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.66. With this latest performance, PSTG shares gained by 17.01% in over the last four-week period, additionally plugging by 33.64% over the last 6 months – not to mention a rise of 123.28% 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 61.77, with the RSI for the last a single of trading hit 58.24, and the three-weeks RSI is set at 62.77 for Pure Storage Inc [PSTG]. The present Moving Average for the last 50 days of trading for this stock 42.83, while it was recorded at 55.17 for the last single week of trading, and 37.58 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 1.73 and a Current Ratio set at 1.76.
PSTG Stock EPS
With the latest financial reports released by the company, Pure Storage Inc posted 0.08/share EPS, while the average EPS was predicted by analysts to be reported at 0.04/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 100.00%. 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 17.70%.
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%.
