Home  »  Hot Stocks   »  Is a Correction Looming Ahead for Pure Storage Inc...

Is a Correction Looming Ahead for Pure Storage Inc. (PSTG)

Pure Storage Inc. (NYSE:PSTG) went up by 4.00% from its latest closing price compared to the recent 1-year high of $36.71. The company’s stock price has collected 2.23% of gains in the last five trading sessions. Barron’s reported on 09/01/22 that Pure Storage Stock Rallies After Earnings. The Market Was ‘Reasonably Strong.’

Is It Worth Investing in Pure Storage Inc. (NYSE :PSTG) Right Now?

Pure Storage Inc. (NYSE:PSTG) scored a price-to-earnings ratio above its average ratio, recording 601.11 x from its present earnings ratio. Plus, the 36-month beta value for PSTG is at 1.22. Opinions of the stock are interesting as 16 analysts out of 22 who provided ratings for Pure Storage Inc. declared the stock was a “buy,” while 2 rated the stock as “overweight,” 4 rated it as “hold,” and 0 as “sell.”

Top 5 Undervalued Stocks To Own In 2023

Microchip Maker Releases "World's Most Powerful Data Center CPU". It could allow the company who manufactures it to lead the industry as the global microchip shortage continues into the coming year. We've put together a free research report that explains all the details. Not only will you find out why analysts believe this chip manufacturer could lead the pack, you will also discover four more potential winners for the coming year.

Click here to download your Free Research Report…


The average price from analysts is $38.82, which is $11.7 above the current price. PSTG currently public float of 281.06M and currently shorts hold a 7.10% ratio of that float. Today, the average trading volume of PSTG was 3.89M shares.

PSTG’s Market Performance

PSTG stocks went up by 2.23% for the week, with a monthly drop of -2.52% and a quarterly performance of -2.13%, while its annual performance rate touched 5.46%. The volatility ratio for the week stands at 3.58% while the volatility levels for the past 30 days are set at 2.77% for Pure Storage Inc. The simple moving average for the period of the last 20 days is 1.55% for PSTG stocks with a simple moving average of -3.93% for the last 200 days.

Analysts’ Opinion of PSTG

Many brokerage firms have already submitted their reports for PSTG stocks, with Morgan Stanley repeating the rating for PSTG by listing it as a “Overweight.” The predicted price for PSTG in the upcoming period, according to Morgan Stanley is $37 based on the research report published on October 31st of the previous year 2022.

Credit Suisse, on the other hand, stated in their research note that they expect to see PSTG reach a price target of $36. The rating they have provided for PSTG stocks is “Outperform” according to the report published on August 17th, 2022.

BofA Securities gave a rating of “Neutral” to PSTG, setting the target price at $27 in the report published on May 20th of the previous year.

PSTG Trading at -5.31% from the 50-Day Moving Average

After a stumble in the market that brought PSTG to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -26.31% of loss for the given period.

Volatility was left at 2.77%, however, over the last 30 days, the volatility rate increased by 3.58%, as shares sank -2.42% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -12.40% lower at present.

During the last 5 trading sessions, PSTG rose by +2.23%, which changed the moving average for the period of 200-days by -19.30% in comparison to the 20-day moving average, which settled at $26.60. In addition, Pure Storage Inc. saw 1.08% in overturn over a single year, with a tendency to cut further gains.

Insider Trading

Reports are indicating that there were more than several insider trading activities at PSTG starting from Krysler P. Kevan, who sale 27,679 shares at the price of $27.06 back on Dec 29. After this action, Krysler P. Kevan now owns 480,831 shares of Pure Storage Inc., valued at $748,949 using the latest closing price.

Tomb Gregory, the Director of Pure Storage Inc., sale 10,643 shares at $26.65 during a trade that took place back on Dec 27, which means that Tomb Gregory is holding 30,544 shares at $283,625 based on the most recent closing price.

Stock Fundamentals for PSTG

Current profitability levels for the company are sitting at:

  • -4.51 for the present operating margin
  • +67.52 for the gross margin

The net margin for Pure Storage Inc. stands at -6.57.

The liquidity ratio also appears to be rather interesting for investors as it stands at 2.22.

Is SSR Mining Inc. (SSRM) a Keeper?

SSR Mining Inc. (NASDAQ:SSRM) went down by -3.03% from its latest closing price compared to the recent 1-year high of $24.58. The company’s stock price