What The Financials Tell Us About Pure Storage Inc. (PSTG)

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Pure Storage Inc. (NYSE:PSTG) finished Wednesday with a subtraction of -$0.44 to close at $27.57, a downside of -1.57 percent. An average of 3,741,620 shares of common stock have been traded in the last five days. There was a fall of -$2.10 in the past week, and it reached a new high 19 times over the past 12 months. The last 20 days have seen an average of 4,266,730 shares traded, while the 50-day average volume stands at 3,209,180.

PSTG stock has decreased by -7.89% in the last month. The company shares reached their 1-month lowest point of $27.19 on 09/01/22. With the stock rallying to its 52-week high on 03/28/22, shares of the company touched a low of $21.90 and a high of $36.71 in 52 weeks. It has reached a new high 9 times so far this year and lost -15.30% or -$4.98 in price. In spite of this, the price is down -24.90% from the 52-week high.


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Insider Transactions

10 days have passed since Pure Storage Inc. (PSTG) last reported insider trading activity. Brown Andrew William Fraser, who is Director, most recently acquired $12,637 shares at $30.18 per share on Sep 12. In this transaction, the insider spent $381,397. Chief Product Officer, Singh Ajay, disposed of 36,338 shares at a price of $34.39 on Mar 23. The insider now owns more than $1,249,591 worth of shares. Prior to that, Director Brown Andrew William Fraser went on to Sale 11,564 shares at $35.20 each on Mar 21. An amount of $407,048 was transacted.

Valuation Metrics

Pure Storage Inc. (PSTG) stock’s beta is 1.35. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 3.21, the price-to-book (PB) ratio at 10.77.

Financial Health

The quick ratio of Pure Storage Inc. for the three months ended July 30 was 1.30, and the current ratio was 1.30, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.01 and a total debt to equity ratio of 0.76 for the quarter ending July 30. Its gross profit as reported stood at $1.47 billion compared to revenue of $2.18 billion.

Earnings Surprise

In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $10.92 million in the quarter, while revenues of -$11.54 million were grew 514.56%. The analyst consensus anticipated Pure Storage Inc.’s latest quarter earnings to come in at $0.22 per share, but it turned out to be $0.32, a 45.50% surprise. For the quarter, EBITDA amounted to $39.05 million. Shareholders own equity worth $298.92 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Pure Storage Inc. (PSTG) price momentum. RSI 9-day as of the close on 21 September was 32.18%, suggesting the stock is Neutral, with historical volatility in this time frame at 35.98%.

As of today, PSTG’s price is $28.23 -7.08% or -$2.10 from its 5-day moving average. PSTG is currently trading -7.11% lower than its 20-day SMA and -9.84% lower than its 100-day SMA. However, the stock’s current price level is +8.03% above the SMA50 and -12.75% below the SMA200.

The stochastic %K and %D were 19.42% and 28.19%, respectively, and the average true range (ATR) was 1.00. With the 14-day stochastic at 10.30% and the average true range at 1.00, the RSI (14) stands at 38.68%. The stock has reached -1.16 on the 9-day MACD Oscillator while the 14-day reading was at -1.10.

Analyst Ratings

Credit Suisse launched coverage on Pure Storage Inc. (NYSE: PSTG) in its analyst report released on August 17, 2022. The firm assigned the stock an Outperform rating. The consensus rating for Pure Storage Inc. (PSTG) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell PSTG, while 4 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 2 analysts, while 15 others rate it as a “buy”.

What is PSTG’s price target for the next 12 months?

Analysts predict a range of price targets between $33.00 and $47.00, with a median target of $40.00. Taking a look at these predictions, the average price target given by analysts for Pure Storage Inc. (PSTG) stock is $39.32.

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