The stock of Pure Storage Inc (PSTG) has seen a -2.70% decrease in the past week, with a 3.01% gain in the past month, and a 42.86% flourish in the past quarter. The volatility ratio for the week is 3.61%, and the volatility levels for the past 30 days are at 3.28% for PSTG. The simple moving average for the last 20 days is -0.22% for PSTG’s stock, with a simple moving average of 32.25% for the last 200 days.
Is It Worth Investing in Pure Storage Inc (NYSE: PSTG) Right Now?
The price-to-earnings ratio for Pure Storage Inc (NYSE: PSTG) is 313.36x, which is above its average ratio. Moreover, the 36-month beta value for PSTG is 1.14. Analysts have varying opinions on the stock, with 9 analysts rating it as a “buy,” 5 as “overweight,” 6 as “hold,” and 0 as “sell.”
The public float for PSTG is 304.07M and currently, short sellers hold a 2.70% of that float. On April 16, 2024, PSTG’s average trading volume was 3.87M shares.
PSTG) stock’s latest price update
The stock of Pure Storage Inc (NYSE: PSTG) has decreased by -2.11 when compared to last closing price of 53.43.Despite this, the company has seen a loss of -2.70% in its stock price over the last five trading days. The Motley Fool reported 2024-04-15 that A Citigroup analyst was the latest to wax bullish on the flash storage specialist. Storage is quite the segment of interest for both investors and pundits.
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 6.96% 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 -10.54% of loss for the given period.
Volatility was left at 3.28%, however, over the last 30 days, the volatility rate increased by 3.61%, as shares surge +4.68% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +28.66% upper at present.
During the last 5 trading sessions, PSTG fell by -2.70%, which changed the moving average for the period of 200-days by +45.84% in comparison to the 20-day moving average, which settled at $52.53. In addition, Pure Storage Inc saw 46.66% 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 Singh Ajay, who sale 37,588 shares at the price of $53.54 back on Apr 05 ’24. After this action, Singh Ajay now owns 380,834 shares of Pure Storage Inc, valued at $2,012,462 using the latest closing price.
Pure Storage, Inc., the Director of Pure Storage Inc, sale 7,500 shares at $52.80 during a trade that took place back on Apr 05 ’24, which means that Pure Storage, Inc. is holding 28,896 shares at $396,000 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 4.55. The debt to equity ratio resting at 0.12. The interest coverage ratio of the stock is 9.41.
Currently, EBITDA for the company is 211.58 million with net debt to EBITDA at -1.78. When we switch over and look at the enterprise to sales, we see a ratio of 5.85. 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
To wrap up, the performance of Pure Storage Inc (PSTG) has been better in recent times. The stock has received a bullish of “buy” and “hold” ratings from analysts. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
