The stock price of Pure Storage Inc (NYSE: PSTG) has surged by 2.12 when compared to previous closing price of 49.46, but the company has seen a -3.42% decline in its stock price over the last five trading sessions. Zacks Investment Research reported 2024-04-22 that Wondering how to pick strong, market-beating stocks for your investment portfolio? Look no further than the Zacks Style Scores.
Is It Worth Investing in Pure Storage Inc (NYSE: PSTG) Right Now?
The price-to-earnings ratio for Pure Storage Inc (NYSE: PSTG) is above average at 302.64x. The 36-month beta value for PSTG is also noteworthy at 1.15. There are mixed opinions on the stock, with 9 analysts rating it as a “buy,” 5 rating it as “overweight,” 6 rating it as “hold,” and 0 rating it as “sell.”
The public float for PSTG is 304.37M, and at present, short sellers hold a 2.69% of that float. The average trading volume of PSTG on April 23, 2024 was 3.79M shares.
PSTG’s Market Performance
The stock of Pure Storage Inc (PSTG) has seen a -3.42% decrease in the past week, with a -4.41% drop in the past month, and a 22.66% gain in the past quarter. The volatility ratio for the week is 3.58%, and the volatility levels for the past 30 days are at 3.47% for PSTG. The simple moving average for the past 20 days is -4.02% for PSTG’s stock, with a 26.50% simple moving average for the past 200 days.
Analysts’ Opinion of PSTG
Many brokerage firms have already submitted their reports for PSTG stocks, with Raymond James repeating the rating for PSTG by listing it as a “Outperform.” The predicted price for PSTG in the upcoming period, according to Raymond James is $63 based on the research report published on April 19, 2024 of the current year 2024.
Citigroup, on the other hand, stated in their research note that they expect to see PSTG reach a price target of $65. The rating they have provided for PSTG stocks is “Buy” according to the report published on March 15th, 2024.
Needham gave a rating of “Buy” to PSTG, setting the target price at $66 in the report published on March 06th of the current year.
PSTG Trading at 1.22% 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 -13.60% of loss for the given period.
Volatility was left at 3.47%, however, over the last 30 days, the volatility rate increased by 3.58%, as shares sank -3.29% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +14.43% upper at present.
During the last 5 trading sessions, PSTG fell by -3.42%, which changed the moving average for the period of 200-days by +37.07% in comparison to the 20-day moving average, which settled at $52.54. In addition, Pure Storage Inc saw 41.64% 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 15,286 shares at the price of $52.80 back on Apr 17 ’24. After this action, Krysler P. Kevan now owns 507,824 shares of Pure Storage Inc, valued at $807,101 using the latest closing price.
FitzSimons Dan, the Chief Revenue Officer of Pure Storage Inc, sale 29,283 shares at $52.14 during a trade that took place back on Apr 16 ’24, which means that FitzSimons Dan is holding 138,105 shares at $1,526,816 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 5.65. 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 summary, Pure Storage Inc (PSTG) has had a mixed performance as of late. Analysts have bullish opinions on the stock, with some viewing it as a “buy” and others 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.
