Pure Storage Inc. (NYSE: PSTG) is -12.33% lower on its value in year-to-date trading and has touched a low of $21.90 and a high of $36.71 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The PSTG stock was last observed hovering at around $23.09 in the last trading session, with the day’s gains setting it 0.37% off its average median price target of $34.00 for the next 12 months. It is also 50.09% off the consensus price target high of $47.00 offered by 21 analysts, but current levels are 21.8% higher than the price target low of $30.00 for the same period.
Currently trading at $23.46, the stock is -14.86% and -15.45% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 6.59 million and changing 1.60% at the moment leaves the stock -16.51% off its SMA200. PSTG registered -25.92% loss for a year compared to 6-month loss of -23.86%.
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The stock witnessed a -23.21% gain in the last 1 month and extending the period to 3 months gives it a -19.49%, and is -3.85% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.95% over the week and 3.07% over the month.
Pure Storage Inc. (PSTG) has around 4900 employees, a market worth around $7.20B and $2.75B in sales. Current P/E ratio is 110.14 and Fwd P/E is 14.47. Distance from 52-week low is 7.15% and -36.09% from its 52-week high. The company has generated returns on investments over the last 12 months (-7.30%).
Pure Storage Inc. (PSTG) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Pure Storage Inc. (PSTG) is a “Buy”. 21 analysts offering their recommendations for the stock have an average rating of 2.00, where 4 rate it as a Hold and 2 think it is a “Overweight”. 15 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Pure Storage Inc. is expected to release its quarterly report on 05/24/2023.The EPS is expected to grow by 52.40% this year.
Pure Storage Inc. (PSTG) Top Institutional Holders
The shares outstanding are 300.98M, and float is at 281.06M with Short Float at 10.55%.
Pure Storage Inc. (PSTG) Insider Activity
A total of 15 insider transactions have happened at Pure Storage Inc. (PSTG) in the last six months, with sales accounting for 15 and purchases happening 0 times. The most recent transaction is an insider sale by Krysler P. Kevan,the company’sChief Financial Officer. SEC filings show that Krysler P. Kevan sold 27,679 shares of the company’s common stock on Dec 29 at a price of $27.06 per share for a total of $0.75 million. Following the sale, the insider now owns 0.48 million shares.
Pure Storage Inc. disclosed in a document filed with the SEC on Dec 27 that Tomb Gregory (Director) sold a total of 10,643 shares of the company’s common stock. The trade occurred on Dec 27 and was made at $26.65 per share for $0.28 million. Following the transaction, the insider now directly holds 30544.0 shares of the PSTG stock.
Still, SEC filings show that on Dec 21, FitzSimons Dan (Chief Revenue Officer) disposed off 10,918 shares at an average price of $27.62 for $0.3 million. The insider now directly holds 119,217 shares of Pure Storage Inc. (PSTG).
Pure Storage Inc. (PSTG): Who are the competitors?
The company’s main competitors (and peers) include Seagate Technology Holdings plc (STX) that is -30.13% lower over the past 12 months.