Pure Storage Inc (NYSE:PSTG) finished Friday with an addition of $0.51 to close at $35.62, an upside of 1.45 percent. An average of 2,991,580 shares of common stock have been traded in the last five days. There was a gain of $0.99 in the past week, and it reached a new high 25 times over the past 12 months. The last 20 days have seen an average of 3,553,695 shares traded, while the 50-day average volume stands at 3,488,906.
PSTG stock has decreased by -2.36% in the last month. The company shares reached their 1-month lowest point of $33.33 on 09/26/23. With the stock rallying to its 52-week high on 09/05/23, shares of the company touched a low of $22.14 and a high of $40.50 in 52 weeks. It has reached a new high 24 times so far this year and achieved 33.11% or $8.86 in price. In spite of this, the price is down -12.05% from the 52-week high.
Insider Transactions
PSTG stock investors should be aware that Pure Storage Inc (PSTG) stock had its last reported insider trading activity 75 days ago on Jul 17. In this transaction, the insider spent $207,346. Director, Yen Mallun, disposed of 12,495 shares at a price of $37.95 on Jul 11. The insider now owns more than $474,185 worth of shares. Prior to that, Director Brown Andrew William Fraser went on to Sale 9,097 shares at $35.83 each on Jun 26. An amount of $325,957 was transacted.
Valuation Metrics
Pure Storage Inc (PSTG) stock’s beta is 1.26. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 3.96, the price-to-book (PB) ratio at 11.26, and the price-to-cash flow ratio at 22.78.
Financial Health
The quick ratio of Pure Storage Inc for the three months ended July 30 was 1.60, and the current ratio was 1.64, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.24 and a total debt to equity ratio of 0.29 for the quarter ending July 30. Its gross profit as reported stood at $1.9 billion compared to revenue of $2.75 billion.
Earnings Surprise
For the three-month period that ended July 30, Pure Storage Inc had $100.0 million in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$7.12 million in the quarter, while revenues of -$67.4 million were grew 253.37%. The analyst consensus anticipated Pure Storage Inc’s latest quarter earnings to come in at $0.28 per share, but it turned out to be $0.34, a 21.40% surprise. For the quarter, EBITDA amounted to $24.0 million. Shareholders own equity worth $311.96 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 29 September was 48.86%, suggesting the stock is Neutral, with historical volatility in this time frame at 28.70%.
As of today, PSTG’s price is $34.52 +2.86% or $0.99 from its 5-day moving average. PSTG is currently trading -2.65% lower than its 20-day SMA and +56.57% higher than its 100-day SMA. However, the stock’s current price level is -5.37% below the SMA50 and +19.49% above the SMA200.
The stochastic %K and %D were 27.90% and 17.45%, respectively, and the average true range (ATR) was 1.05. With the 14-day stochastic at 37.78% and the average true range at 1.09, the RSI (14) stands at 46.49%. The stock has reached 0.23 on the 9-day MACD Oscillator while the 14-day reading was at -0.52.
Analyst Ratings
TD Cowen reiterated its an Outperform rating on Pure Storage Inc (NYSE: PSTG), but raised their price target to $44, indicating a potential price increase of 19.05% for the stock. 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 3 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 $38.00 and $50.00, with a median target of $44.00. Taking a look at these predictions, the average price target given by analysts for Pure Storage Inc (PSTG) stock is $43.36.
