Pure Storage Inc (NYSE: PSTG)’s stock price has plunge by -2.43relation to previous closing price of 53.90. Nevertheless, the company has seen a 0.15% surge in its stock price over the last five trading sessions. prnewswire.com reported 2024-10-11 that SANTA CLARA, Calif., Oct. 11, 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 positioned by Gartner® as a Leader in the Magic Quadrant™ for File and Object Storage Platforms for both its Completeness of Vision and Ability to Execute, in the rapidly growing storage market for unstructured data.
Is It Worth Investing in Pure Storage Inc (NYSE: PSTG) Right Now?
The price-to-earnings ratio for Pure Storage Inc (NYSE: PSTG) is 129.66x, which is above its average ratio. Moreover, the 36-month beta value for PSTG is 1.10. 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.”
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The public float for PSTG is 309.66M and currently, short sellers hold a 3.14% of that float. On October 16, 2024, PSTG’s average trading volume was 2.93M shares.
PSTG’s Market Performance
PSTG stock saw an increase of 0.15% in the past week, with a monthly gain of 6.07% and a quarterly increase of -13.26%. The volatility ratio for the week is 2.52%, and the volatility levels for the last 30 days are 2.66% for Pure Storage Inc (PSTG). The simple moving average for the past 20 days is 3.14% for PSTG’s stock, with a -0.70% simple moving average for the past 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 -1.04% 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 -25.31% of loss for the given period.
Volatility was left at 2.66%, however, over the last 30 days, the volatility rate increased by 2.52%, as shares surge +5.60% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -0.51% lower at present.
During the last 5 trading sessions, PSTG rose by +0.15%, which changed the moving average for the period of 200-days by +45.92% in comparison to the 20-day moving average, which settled at $50.99. In addition, Pure Storage Inc saw 47.48% 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 20,647 shares at the price of $51.50 back on Oct 07 ’24. After this action, Chu Mona now owns 75,992 shares of Pure Storage Inc, valued at $1,063,320 using the latest closing price.
Colgrove John, the Chief Visionary Officer of Pure Storage Inc, sale 100,000 shares at $51.01 during a trade that took place back on Oct 04 ’24, which means that Colgrove John is holding 400,000 shares at $5,100,668 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 5.5. 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
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’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.
