The stock of Pure Storage Inc (NYSE:PSTG) last traded at $52.84, up 2.03% from the previous session.
PSTG stock price is now 18.60% away from the 50-day moving average and 38.34% away from the 200-day moving average. The market capitalization of the company currently stands at $16.70B.
With the price target of $65, Citigroup recently initiated with Buy rating for Pure Storage Inc (NYSE: PSTG). On March 06, 2024, Needham recently initiated its ‘Buy’ rating on the stock quoting a target price of $66, while ‘TD Cowen’ rates the stock as ‘Outperform’
In other news, FitzSimons Dan, Chief Revenue Officer sold 36,437 shares of the company’s stock on Mar 01 ’24. The stock was sold for $1,960,311 at an average price of $53.80. Upon completion of the transaction, the Chief Revenue Officer now directly owns 90,559 shares in the company, valued at $4.79 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 01 ’24, Chief Accounting Officer Chu Mona sold 6,853 shares of the business’s stock. A total of $381,438 was realized by selling the stock at an average price of $55.66. This leaves the insider owning 133,100 shares of the company worth $7.03 million. A total of 6.52% of the company’s stock is owned by insiders.
During the past 12 months, Pure Storage Inc has had a low of $22.14 and a high of $58.46. As of last week, the company has a debt-to-equity ratio of 0.21, a current ratio of 1.76, and a quick ratio of 1.73. According to the stock market information, the enterprise value for the company is $15.10B, which is based on a 311.19 price-to-earnings ratio, a 17.58 price-to-earnings-growth ratio, and a beta of 1.15. The fifty day moving average price for PSTG is $44.86 and a two-hundred day moving average price translates $38.29 for the stock.
The latest earnings results from Pure Storage Inc (NYSE: PSTG) was released for Feb, 2024. According to the Computer Hardware Company, earnings per share came in at $0.5, beating analysts’ expectations of $0.44 by 0.06. This compares to $0.22 EPS in the same period last year. The net profit margin was 2.17% and return on equity was 5.55% for PSTG. The company reported revenue of $789.8 million for the quarter, compared to $810.21 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -2.52 percent. For the current quarter, analysts expect PSTG to generate $680.99M in revenue.
