Pure Storage Inc [NYSE: PSTG] gained 1.93% on the last trading session, reaching $51.29 price per share at the time.
If compared to the average trading volume of 3.43M shares, PSTG reached a trading volume of 5346355 in the most recent trading day, which is why market watchdogs consider the stock to be active.
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Here is what top equities market gurus are saying 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 $65.91 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 1.87. 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.
TD Cowen have made an estimate for Pure Storage Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on August 29, 2024. While these analysts kept the previous recommendation, Needham dropped their target price from $80 to $62. The new note on the price target was released on August 29, 2024, representing the official price target for Pure Storage Inc stock. Previously, the target price had yet another raise to $60, while Piper Sandler analysts kept a Neutral rating on PSTG stock. On July 02, 2024, analysts increased their price target for PSTG shares from 44 to 47.
The Average True Range (ATR) for Pure Storage Inc is set at 2.63, with the Price to Sales ratio for PSTG stock in the period of the last 12 months amounting to 5.54. The Price to Book ratio for the last quarter was 12.14, with the Price to Cash per share for the same quarter was set at 5.60. Price to Free Cash Flow for PSTG in the course of the last twelve months was 25.53 with Quick ratio for the last quarter at 1.89.
Trading performance analysis for PSTG stock
Pure Storage Inc [PSTG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -16.68. With this latest performance, PSTG shares dropped by -9.73% in over the last four-week period, additionally sinking by -7.30% over the last 6 months – not to mention a rise of 40.60% 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 33.10, with the RSI for the last a single of trading hit 27.25, and the three-weeks RSI is set at 36.90 for Pure Storage Inc [PSTG]. The present Moving Average for the last 50 days of trading for this stock 60.49, while it was recorded at 56.61 for the last single week of trading, and 50.73 for the last 200 days.
Pure Storage Inc [PSTG]: A deeper dive into fundamental analysis
Pure Storage Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.89 and a Current Ratio set at 1.92.
Pure Storage Inc [PSTG]: An earnings per share (EPS) analysis
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 5.60%.
An analysis of Institutional ownership at Pure Storage Inc [PSTG]
There are presently around $86.51%, or 91.31%% of PSTG stock, in the hands of institutional investors. The top three institutional holders of PSTG stocks are: FMR LLC with ownership of 48.79 million shares, which is approximately 15.123%. BLACKROCK INC., holding 33.38 million shares of the stock with an approximate value of $$2.14 billion in PSTG stocks shares; and BLACKROCK INC., currently with $$2.05 billion in PSTG stock with ownership which is approximately 9.8811%.
