Pure Storage Inc. (NYSE: PSTG)’s stock price has increased by 3.30 compared to its previous closing price of 23.35. However, the company has experienced a 1.47% gain in its stock price over the last five trading sessions. Barron’s reported on 03/02/23 that Pure Storage Guidance Misses Street Estimates as Companies Cut IT Spending
Is It Worth Investing in Pure Storage Inc. (NYSE: PSTG) Right Now?
Pure Storage Inc. (NYSE: PSTG) has a price-to-earnings ratio of 113.24x that is above its average ratio. Additionally, the 36-month beta value for PSTG is 1.27. There are mixed opinions on the stock, with 15 analysts rating it as a “buy,” 2 rating it as “overweight,” 4 rating it as “hold,” and 0 rating it as “sell.”
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The average price predicted by analysts for PSTG is $35.38, which is $11.56 above the current price. The public float for PSTG is 281.06M and currently, short sellers hold a 10.55% ratio of that float. The average trading volume of PSTG on March 17, 2023 was 5.32M shares.
PSTG’s Market Performance
The stock of Pure Storage Inc. (PSTG) has seen a 1.47% increase in the past week, with a -22.99% drop in the past month, and a -20.08% fall in the past quarter. The volatility ratio for the week is 3.08%, and the volatility levels for the past 30 days are at 3.23% for PSTG. The simple moving average for the last 20 days is -9.96% for PSTG stock, with a simple moving average of -14.17% 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 -12.63% 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 -34.29% of loss for the given period.
Volatility was left at 3.23%, however, over the last 30 days, the volatility rate increased by 3.08%, as shares sank -24.53% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -11.16% lower at present.
During the last 5 trading sessions, PSTG rose by +1.47%, which changed the moving average for the period of 200-days by -1.07% in comparison to the 20-day moving average, which settled at $26.40. In addition, Pure Storage Inc. saw -9.87% in overturn over a single year, with a tendency to cut further losses.
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:
- +3.03 for the present operating margin
- +68.92 for the gross margin
The net margin for Pure Storage Inc. stands at +2.65.
The liquidity ratio also appears to be rather interesting for investors as it stands at 1.37.
Conclusion
In conclusion, Pure Storage Inc. (PSTG) has seen bad performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others rating it as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
