In the past week, PSTG stock has gone down by -0.33%, with a monthly decline of -1.12% and a quarterly surge of 44.45%. The volatility ratio for the week is 2.97%, and the volatility levels for the last 30 days are 3.85% for Pure Storage Inc The simple moving average for the past 20 days is -1.75% for PSTG’s stock, with a 34.45% simple moving average for the past 200 days.
Is It Worth Investing in Pure Storage Inc (NYSE: PSTG) Right Now?
Pure Storage Inc (NYSE: PSTG) has a higher price-to-earnings ratio of 311.92x compared to its average ratio, The 36-month beta value for PSTG is at 1.15. Analysts have varying views on the stock, with 9 analysts rating it as a “buy,” 5 rating it as “overweight,” 6 as “hold,” and 0 as “sell.”
The public float for PSTG is 295.63M, and currently, shorts hold a 2.90% of that float. The average trading volume for PSTG on April 02, 2024 was 5.01M shares.
PSTG) stock’s latest price update
The stock price of Pure Storage Inc (NYSE: PSTG) has surged by 0.13 when compared to previous closing price of 51.99, but the company has seen a -0.33% decline in its stock price over the last five trading sessions. Zacks Investment Research reported 2024-03-29 that Pure Storage (PSTG) reported earnings 30 days ago. What’s next for the stock?
Analysts’ Opinion of PSTG
Many brokerage firms have already submitted their reports for PSTG stocks, with Citigroup repeating the rating for PSTG by listing it as a “Buy.” The predicted price for PSTG in the upcoming period, according to Citigroup is $65 based on the research report published on March 15, 2024 of the current year 2024.
Needham, on the other hand, stated in their research note that they expect to see PSTG reach a price target of $66. The rating they have provided for PSTG stocks is “Buy” according to the report published on March 06th, 2024.
TD Cowen gave a rating of “Outperform” to PSTG, setting the target price at $60 in the report published on February 29th of the current year.
PSTG Trading at 12.13% 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 -10.95% of loss for the given period.
Volatility was left at 3.85%, however, over the last 30 days, the volatility rate increased by 2.97%, as shares sank -5.91% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +33.73% upper at present.
During the last 5 trading sessions, PSTG fell by -0.33%, which changed the moving average for the period of 200-days by +42.24% in comparison to the 20-day moving average, which settled at $52.83. In addition, Pure Storage Inc saw 45.99% 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 FitzSimons Dan, who sale 36,437 shares at the price of $53.80 back on Mar 01 ’24. After this action, FitzSimons Dan now owns 90,559 shares of Pure Storage Inc, valued at $1,960,311 using the latest closing price.
Chu Mona, the Chief Accounting Officer of Pure Storage Inc, sale 6,853 shares at $55.66 during a trade that took place back on Mar 01 ’24, which means that Chu Mona is holding 133,100 shares at $381,438 based on the most recent closing price.
Stock Fundamentals for PSTG
Current profitability levels for the company are sitting at:
- 0.02 for the present operating margin
- 0.71 for the gross margin
The net margin for Pure Storage Inc stands at 0.02. The total capital return value is set at 0.03. Equity return is now at value 5.55, with 1.70 for asset returns.
Based on Pure Storage Inc (PSTG), the company’s capital structure generated 0.1 points at debt to capital in total, while cash flow to debt ratio is standing at 4.68. The debt to equity ratio resting at 0.11. The interest coverage ratio of the stock is 12.94.
Currently, EBITDA for the company is 211.58 million with net debt to EBITDA at -1.8. When we switch over and look at the enterprise to sales, we see a ratio of 5.66. The receivables turnover for the company is 4.27for trailing twelve months and the total asset turnover is 0.77. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.76.
Conclusion
In conclusion, Pure Storage Inc (PSTG) has had a mixed performance lately. Opinion on the stock among analysts is bullish, with some giving it a “buy” rating and others a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
