Stocks of Pure Storage Inc (NYSE:PSTG) traded higher last session on Wall Street, down -0.48% to $33.15.
According to the data, Pure Storage Inc (NYSE:PSTG) has 19 analysts covering its stock. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $58.00 and a low of $35.00, we find $40.00. Given the previous closing price of $33.31, this indicates a potential upside of 20.08 percent. PSTG stock price is now -5.61% away from the 50-day moving average and 3.03% away from the 200-day moving average. The market capitalization of the company currently stands at $10.34B.
A total of 2 analysts have issued a hold rating and 16 have given it a buy rating. Brokers who have rated the stock have averaged $41.59 as their price target over the next twelve months.
With the price target reduced from $50 to $42, TD Cowen maintained Outperform rating for Pure Storage Inc (NYSE: PSTG).
In other news, Chu Mona, Chief Accounting Officer sold 5,387 shares of the company’s stock on Jul 17. The stock was sold for $207,346 at an average price of $38.49. Upon completion of the transaction, the Chief Accounting Officer now directly owns 147,188 shares in the company, valued at $4.88 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jul 11, Director Yen Mallun sold 12,495 shares of the business’s stock. A total of $474,185 was realized by selling the stock at an average price of $37.95. This leaves the insider owning 40,316 shares of the company worth $1.34 million. Insiders disposed of 932,069 shares of company stock worth roughly $30.9 million over the past 1 year. A total of 6.34% of the company’s stock is owned by insiders.
Friday’s opening bell rang with an opening price of $33.21 for Pure Storage Inc (NYSE: PSTG). During the past 12 months, Pure Storage Inc has had a low of $22.14 and a high of $40.50. As of last week, the company has a debt-to-equity ratio of 0.23, a current ratio of 1.76, and a quick ratio of 1.72. According to the stock market information, the enterprise value for the company is $9.26B, which is based on a 178.32 price-to-earnings ratio, a 21.54 price-to-earnings-growth ratio, and a beta of 1.14. The fifty day moving average price for PSTG is $35.09 and a two-hundred day moving average price translates $32.18 for the stock.
The latest earnings results from Pure Storage Inc (NYSE: PSTG) was released for Nov, 2023. According to the Computer Hardware Company, earnings per share came in at $0.5, beating analysts’ expectations of $0.4 by 0.1. This compares to $0.03 EPS in the same period last year. The net profit margin was 2.47% and return on equity was 7.07% for PSTG. The company reported revenue of $688.67 million for the quarter, compared to $646.77 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 6.48 percent. For the current quarter, analysts expect PSTG to generate $782.29M in revenue.
Pure Storage Inc(PSTG) Company Profile
Pure Storage, Inc., together with its subsidiaries, provides data storage technologies, products, and services in the United States and internationally. The company’s Purity software is shared across its products and provides enterprise-class data services, such as data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object. Its products portfolio includes FlashArray for block-oriented storage, addressing databases, applications, virtual machines, and other traditional workloads; FlashArray//XL; and FlashArray//C, an all-QLC flash array. The company also provides FlashBlade, a solution for unstructured data workloads of various types; FlashStack that combines compute, network, and storage to provide an infrastructure platform; FlashRecover, an all-flash modern data protection solution; and AIRI, a full-stack AI-ready infrastructure. In addition, it offers evergreen storage subscription and Cloud Block Store, as well as Portworx a cloud-native Kubernetes data management solution It also offers technical and professional, training and education, and certification services. The company sells its products and subscription services through direct sales force and channel partners. The company was formerly known as OS76, Inc. and changed its name to Pure Storage, Inc. in January 2010. Pure Storage, Inc. was incorporated in 2009 and is headquartered in Mountain View, California.
