The price-to-earnings ratio for Pure Storage Inc (NYSE: PSTG) is above average at 123.74x, Company’s 36-month beta value is 1.11.Analysts have differing 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 309.17M, and currently, short sellers hold a 2.59% ratio of that floaft. The average trading volume of PSTG on September 24, 2024 was 3.13M shares.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
PSTG) stock’s latest price update
Pure Storage Inc (NYSE: PSTG) has experienced a decline in its stock price by -1.04 compared to its previous closing price of 50.72. However, the company has seen a gain of 1.23% in its stock price over the last five trading days. prnewswire.com reported 2024-09-20 that Latest recognition marks eleventh consecutive year of Pure Storage being recognized as a Gartner Magic Quadrant Leader SANTA CLARA, Calif., Sept. 20, 2024 /PRNewswire/ — Pure Storage® (NYSE: PSTG), the IT pioneer that delivers the world’s most advanced data storage technology and services, today announced it has been recognized by Gartner as a Leader in the Magic Quadrant for Primary Storage Platforms, positioned highest on the Ability to Execute axis and furthest on the Completeness of Vision axis.
PSTG’s Market Performance
PSTG’s stock has risen by 1.23% in the past week, with a monthly drop of -17.65% and a quarterly drop of -20.11%. The volatility ratio for the week is 2.76% while the volatility levels for the last 30 days are 3.51% for Pure Storage Inc The simple moving average for the last 20 days is -1.57% for PSTG’s stock, with a simple moving average of -2.69% for the last 200 days.
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 “Buy.” The predicted price for PSTG in the upcoming period, according to TD Cowen is $70 based on the research report published on August 29, 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 $62, previously predicting the price at $80. The rating they have provided for PSTG stocks is “Buy” according to the report published on August 29th, 2024.
Piper Sandler gave a rating of “Neutral” to PSTG, setting the target price at $60 in the report published on August 19th of the current year.
PSTG Trading at -10.26% 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 -28.72% of loss for the given period.
Volatility was left at 3.51%, however, over the last 30 days, the volatility rate increased by 2.76%, as shares sank -18.47% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -23.02% lower at present.
During the last 5 trading sessions, PSTG rose by +1.23%, which changed the moving average for the period of 200-days by +54.00% in comparison to the 20-day moving average, which settled at $50.42. In addition, Pure Storage Inc saw 40.75% 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 DANIEL P FITZSIMONS, who proposed sale 8,895 shares at the price of $50.67 back on Sep 23 ’24. After this action, DANIEL P FITZSIMONS now owns shares of Pure Storage Inc, valued at $450,747 using the latest closing price.
Colgrove John, the Chief Visionary Officer of Pure Storage Inc, sale 100,000 shares at $49.94 during a trade that took place back on Sep 19 ’24, which means that Colgrove John is holding 500,000 shares at $4,993,625 based on the most recent closing price.
Stock Fundamentals for PSTG
Current profitability levels for the company are sitting at:
- 0.05 for the present operating margin
- 0.72 for the gross margin
The net margin for Pure Storage Inc stands at 0.05. The total capital return value is set at 0.06. Equity return is now at value 11.19, with 3.95 for asset returns.
Based on Pure Storage Inc (PSTG), the company’s capital structure generated 0.09 points at debt to capital in total, while cash flow to debt ratio is standing at 5.69. The debt to equity ratio resting at 0.1. The interest coverage ratio of the stock is 18.03.
Currently, EBITDA for the company is 211.58 million with net debt to EBITDA at -2.44. When we switch over and look at the enterprise to sales, we see a ratio of 5.24. The receivables turnover for the company is 7.23for trailing twelve months and the total asset turnover is 0.8. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.92.
Conclusion
In a nutshell, Pure Storage Inc (PSTG) has experienced a mixed performance in recent times. The stock has received mixed “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.
