Pure Storage Inc. (NYSE:PSTG) saw an upside of 4.00% to close Monday at $27.05 after adding $1.04 on the day. The 5-day average trading volume is 5,364,040 shares of the company’s common stock. It has gained $27.63 in the past week and touched a new high 2 times within the past 5 days. An average of 3,852,070 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 4,179,338.
PSTG’s 1-month performance is -2.52% or $0.40 on its low of $25.58 reached on 01/19/23. The company’s shares have touched a 52-week low of $21.90 and high of $36.71, with the stock’s rally to the 52-week high happening on 01/18/23. YTD, PSTG has achieved 1.08% or $0.29 and has reached a new high 2 times. However, the current price is down -26.31% from the 52-week high price.
PSTG stock investors last saw insider trading activity on Dec 29.Krysler P. Kevan (Chief Financial Officer) most recently sold 27,679 shares at $27.06 per share on Dec 29. This transaction cost the insider $748,949. Director, Tomb Gregory, sold 10,643 shares at a price of $26.65 on Dec 27. Then, on Dec 21, Director Brown Andrew William Fraser sold 9,930 shares at a price of $27.28 per share. This transaction amounted to $270,891.
PSTG stock has a beta of 1.22. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 3.07 while the price-to-book (PB) in the most recent quarter is 9.70.
Pure Storage Inc.’s quick ratio for the period ended July 30 was 1.30, with the current ratio over the same period at 1.40. As well, the company’s long term debt to equity for the quarter ending July 30 was 0.01, while the total debt to equity was 0.70. In terms of profitability, the gross margin trailing 12 months is 68.30%. The firm’s gross profit as reported stood at $1.47 billion against revenue of $2.18 billion.
For the quarterly period ending July 30 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 514.56% to $10.92 million, while revenue of -$11.54 million was 205.68% off the previous quarter. Analysts expected PSTG to announce $0.22 per share in earnings in its latest quarter, but it posted $0.32, representing a 45.50% surprise. EBITDA for the quarter stood at more than $35.66 million. PSTG stock balance sheet for the quarter ending July 30 shows that total liabilities totaled 2.41 billion, with total debt at $757.79 million. Shareholders hold equity totaling $302.59 million.
Let’s look briefly at Pure Storage Inc. (PSTG) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 23 January was 53.50% to suggest the stock is trending Neutral, with historical volatility in this time period at 30.92%.
The stock’s 5-day moving average is $26.57, reflecting a +2.23% or $0.59 change from its current price. PSTG is currently trading -2.42% above its 20-day SMA, -9.14% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -12.40% and SMA200 by-19.30%.
Stochastic %K and %D was 35.78% and 37.65% and the average true range (ATR) pointed at 0.85. The RSI (14) points at 48.84%, while the 14-day stochastic is at 71.64% with the period’s ATR at 0.87. The stock’s 9-day MACD Oscillator is pointing at -0.22 and -0.25 on the 14-day charts.
In the most recent analyst report for Pure Storage Inc. (NYSE: PSTG), Morgan Stanley upgraded it to an Overweight rating. They previously had an Equal-weight rating on the stock. Analysts offering their rating for PSTG stock have a consensus rating for the stock as Buy. Currently, 0 brokerage advisors rate PSTG as a “sell,”, while 4 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 2 rates the stock as overweight while 16 have offered a “buy” rating.
What is PSTG’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $32.30 and a high of $47.00, with their median price target at $39.50. Looking at these predictions, the average price target given by analysts is for Pure Storage Inc. (PSTG) stock is $38.82.