Pure Storage Inc [NYSE: PSTG] slipped around -0.27 points on Wednesday, while shares priced at $50.13 at the close of the session, down -0.54%.
Compared to the average trading volume of 3.70M shares, PSTG reached a trading volume of 3942939 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 $55.79 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 1.43. 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.
Raymond James have made an estimate for Pure Storage Inc shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on April 19, 2024. While these analysts kept the previous recommendation, Citigroup raised their target price to Buy. The new note on the price target was released on March 15, 2024, representing the official price target for Pure Storage Inc stock. Previously, the target price had yet another raise to $66, while Needham analysts kept a Buy rating on PSTG stock. On February 29, 2024, analysts increased their price target for PSTG shares from 42 to 60.
The Average True Range (ATR) for Pure Storage Inc is set at 1.95, with the Price to Sales ratio for PSTG stock in the period of the last 12 months amounting to 5.75. The Price to Book ratio for the last quarter was 12.61, with the Price to Cash per share for the same quarter was set at 4.71. Price to Free Cash Flow for PSTG in the course of the last twelve months was 33.75 with Quick ratio for the last quarter at 1.73.
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 -1.03. With this latest performance, PSTG shares dropped by -2.96% in over the last four-week period, additionally plugging by 52.05% over the last 6 months – not to mention a rise of 117.58% 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 44.80, with the RSI for the last a single of trading hit 40.80, and the three-weeks RSI is set at 48.04 for Pure Storage Inc [PSTG]. The present Moving Average for the last 50 days of trading for this stock 51.21, while it was recorded at 51.63 for the last single week of trading, and 40.47 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 1.73 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 17.70%.
Insider trade positions for Pure Storage Inc [PSTG]
The top three institutional holders of PSTG stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in PSTG stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in PSTG stock with ownership which is approximately 5.8386%.
