Pure Storage Inc. (PSTG) concluded trading on 09/14/23 at a closing price of $36.90, with 2.98 million shares of worth about $109.87 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 58.03% during that period and on Thursday the price saw a loss of about -1.10%. Currently the company’s common shares owned by public are about 305.86M shares, out of which, 289.14M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 21 analysts are covering the PSTG stock and their offered price forecasts bring an average price target of $43.45. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $50.00 and could fall to a lowest price of $38.00. The stock’s current price level is 14.25% above of average price target set by the analysts, while a rise to estimated low would result in gain of 2.89% for the stock. However, touching the estimated high of $50.00 would mean a gain of 26.2% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 52 times over the past 12 months. They bought 1,164,559 shares in 14 of the transactions. In 38 selling transactions, insiders dumped 909,839 shares.
Pure Storage Inc. (NYSE: PSTG) started trading at $37.44, above $0.13 from concluding price of the previous day. However, the stock later moved at a day high price of 37.58, or with a loss of -1.10%. Stock saw a price change of -5.29% in past 5 days and over the past one month there was a price change of 0.93%. Year-to-date (YTD), PSTG shares are showing a performance of 37.89% which increased to 24.49% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $22.14 but also hit the highest price of $40.50 during that period. The average intraday trading volume for Pure Storage Inc. shares is 3.50 million. The stock is currently trading -1.73% below its 20-day simple moving average (SMA20), while that difference is down -1.68% for SMA50 and it goes to 21.82% higher than SMA200.
Pure Storage Inc. (NYSE: PSTG) currently have 305.86M outstanding shares and institutions hold larger chunk of about 88.00% of that.
The stock has a current market capitalization of $11.31B and its 3Y-monthly beta is at 1.26. It has posted earnings per share of -$0.09 in the same period. It has Quick Ratio of 1.60 while making debt-to-equity ratio of 0.12. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for PSTG, volatility over the week remained 2.81% while standing at 3.46% over the month.
Analysts are in expectations that Pure Storage Inc. (PSTG) stock would likely to be making an EPS of $0.4 in the current quarter, while forecast for next quarter EPS is $0.58 and it is $1.67 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.35 which is $0.45 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.31 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 143.00% while it is estimated to increase by 18.63% in next year. EPS is likely to shrink at an annualized rate of 14.00% for next 5-years, compared to annual growth of 22.20% made by the stock over the past 5-years.
Analysts at 21 brokerage firms have issued recommendations for the Pure Storage Inc. (PSTG)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.90. Out of those 21 Wall Street analysts, 16 recommended a “Buy” rating, while 3 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by TD Cowen on August 31, 2023 offering an Outperform rating for the stock and assigned a target price range of between $44 and $50 to it.