Pure Storage Inc. (NYSE:PSTG) saw a downside of -2.11% to $36.87 after subtracting -$0.79 on Tuesday. The 5-day average trading volume is 2,125,195 shares of the company’s common stock. It has gained $38.10 in the past week and touched a new high 3 times within the past 5 days. An average of 3,069,499 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 4,545,620.
PSTG’s 1-month performance is -3.34% or -$0.35 on its low of $36.45 reached on 07/31/23. The company’s shares have touched a 52-week low of $22.14 and high of $39.19, with the stock’s rally to the 52-week high happening on 07/19/23. YTD, PSTG has achieved 37.76% or $10.14 and has reached a new high 23 times. However, the current price is down -5.93% from the 52-week high price.
Insider Transactions
PSTG stock investors last saw insider trading activity on Jul 17.Chu Mona (Chief Accounting Officer) most recently sold 5,387 shares at $38.49 per share on Jul 17. This transaction cost the insider $207,346. Director, Yen Mallun, sold 12,495 shares at a price of $37.95 on Jul 11. Then, on Jun 26, Director Brown Andrew William Fraser sold 9,097 shares at a price of $35.83 per share. This transaction amounted to $325,957.
Valuation Metrics
PSTG stock has a beta of 1.26. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 4.17 while the price-to-book (PB) in the most recent quarter is 12.45, with the price to cash flow ratio at 20.88.
Pure Storage Inc.’s quick ratio for the period ended April 29 was 1.60, with the current ratio over the same period at 1.70. As well, the company’s long term debt to equity for the quarter ending April 29 was 0.12, while the total debt to equity was 0.12. In terms of profitability, the gross margin trailing 12 months is 69.20%. The trailing 12-month EBITDA margin is 6.68% while for the period ending April 29, Pure Storage Inc.’s operating margin was 0.60%. The firm’s gross profit as reported stood at $1.9 billion against revenue of $2.75 billion.
Earnings Surprise
For the quarterly period ending April 29 this year, Net income and sales went down compared to those figures reported in the previous quarter. Net income shrunk -83.78% to -$67.4 million, while revenue of -$113.92 million was -69.02% off the previous quarter. Analysts expected PSTG to announce $0.04 per share in earnings in its latest quarter, but it posted $0.08, representing a 100.00% surprise. EBITDA for the quarter stood at more than -$42.12 million. PSTG stock balance sheet for the quarter ending April 29 shows that total liabilities totaled 2.05 billion, with total debt at $287.61 million. Shareholders hold equity totaling $307.53 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 07 August was 40.72% to suggest the stock is trending Neutral, with historical volatility in this time period at 16.47%.
The stock’s 5-day moving average is $37.43, reflecting a -1.91% or -$0.72 change from its current price. PSTG is currently trading -3.40% above its 20-day SMA, +58.03% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +42.53% and SMA200 by+34.38%.
Stochastic %K and %D was 34.00% and 38.42% and the average true range (ATR) pointed at 1.00. The RSI (14) points at 48.26%, while the 14-day stochastic is at 17.69% with the period’s ATR at 0.99. The stock’s 9-day MACD Oscillator is pointing at -0.11 and -0.26 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Pure Storage Inc. (NYSE: PSTG), Wedbush upgraded it to an Outperform rating. They previously had a Neutral 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 3 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 $31.00 and a high of $47.00, with their median price target at $42.00. Looking at these predictions, the average price target given by analysts is for Pure Storage Inc. (PSTG) stock is $41.34.
