The stock of Pure Storage Inc. (PSTG) has gone down by -7.29% for the week, with a -2.00% drop in the past month and a -3.59% drop in the past quarter. The volatility ratio for the week is 3.01%, and the volatility levels for the past 30 days are 3.52% for PSTG. The simple moving average for the past 20 days is -3.45% for PSTG’s stock, with a 19.55% simple moving average for the past 200 days.
Is It Worth Investing in Pure Storage Inc. (NYSE: PSTG) Right Now?
Moreover, the 36-month beta value for PSTG is 1.26. Analysts have varying opinions on the stock, with 16 analysts rating it as a “buy,” 2 as “overweight,” 3 as “hold,” and 0 as “sell.”
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The average price recommended by analysts for Pure Storage Inc. (PSTG) is $43.45, which is $6.88 above the current market price. The public float for PSTG is 289.14M and currently, short sellers hold a 2.76% of that float. On September 18, 2023, PSTG’s average trading volume was 3.46M shares.
PSTG) stock’s latest price update
The stock of Pure Storage Inc. (NYSE: PSTG) has decreased by -1.76 when compared to last closing price of 36.90. Despite this, the company has experienced a -7.29% fall in its stock price over the last five trading sessions. The Motley Fool reported 2023-09-10 that Pure Storage remains in growth mode, despite a significant downturn for other data storage companies. Pure Storage’s tilt towards subscription revenue continues to ramp up, differentiating it from peers.
Analysts’ Opinion of PSTG
Many brokerage firms have already submitted their reports for PSTG stocks, with TD Cowen repeating the rating for PSTG by listing it as a “Outperform.” The predicted price for PSTG in the upcoming period, according to TD Cowen is $50 based on the research report published on August 31, 2023 of the current year 2023.
PSTG Trading at -3.41% 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 -10.49% of loss for the given period.
Volatility was left at 3.52%, however, over the last 30 days, the volatility rate increased by 3.01%, as shares sank -0.77% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -1.63% lower at present.
During the last 5 trading sessions, PSTG fell by -7.29%, which changed the moving average for the period of 200-days by +22.71% in comparison to the 20-day moving average, which settled at $37.53. In addition, Pure Storage Inc. saw 35.46% 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 Chu Mona, who sale 5,387 shares at the price of $38.49 back on Jul 17. After this action, Chu Mona now owns 147,188 shares of Pure Storage Inc., valued at $207,346 using the latest closing price.
Yen Mallun, the Director of Pure Storage Inc., sale 12,495 shares at $37.95 during a trade that took place back on Jul 11, which means that Yen Mallun is holding 40,316 shares at $474,185 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 total capital return value is set at 4.95, while invested capital returns managed to touch 5.37. Equity return is now at value -0.10, with 0.00 for asset returns.
Based on Pure Storage Inc. (PSTG), the company’s capital structure generated 80.84 points at debt to equity in total, while total debt to capital is 44.70. Total debt to assets is 21.47, with long-term debt to equity ratio resting at 15.64. Finally, the long-term debt to capital ratio is 8.65.
When we switch over and look at the enterprise to sales, we see a ratio of 3.74, with the company’s debt to enterprise value settled at 0.08. The receivables turnover for the company is 4.77 and the total asset turnover is 0.82. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.38.
Conclusion
To wrap up, the performance of Pure Storage Inc. (PSTG) has been mixed in recent times. The stock has received a mixed of “buy” and “hold” ratings from analysts. 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.
