NYSE:PSTG

Pure Storage (PSTG) Stock Forecast, Price & News

$35.70

-0.27 (-0.75%)

(As of 09/20/2023 ET)

Compare

Today's Range: $35.66
▼
$36.51
50-Day Range: $35.69
▼
$40.18
52-Week Range: $22.14
▼
$40.50

Volume: 2.28 million shs
Average Volume: 3.84 million shs
Market Capitalization: $10.98 billion

P/E Ratio: N/A
Dividend Yield: N/A
Price Target: $42.59

Pure Storage MarketRank™ Forecast

Analyst Rating: Moderate Buy
2.93 Rating Score
Upside/Downside: 19.3% Upside
$42.59 Price Target
Short Interest: Healthy
2.59% of Shares Sold Short
Dividend Strength: N/A
Sustainability: -1.11
Upright™ Environmental Score
News Sentiment: 1.05
Based on 13 Articles This Week
Insider Trading: Selling Shares
$1.34 M Sold Last Quarter
Proj. Earnings Growth: 63.33%
From $0.30 to $0.49 Per Share

Overall MarketRank^™

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

2.64 out of 5 stars

Computer And Technology Sector

123rd out of 588 stocks

Computer Storage Devices Industry

1st out of 5 stocks

3.5

Analyst's Opinion

Consensus Rating
Pure Storage has received a consensus rating of Moderate Buy. The company's average rating score is 2.93, and is based on 11 buy ratings, 2 hold ratings, and no sell ratings.
Price Target Upside/Downside
According to analysts' consensus price target of $42.59, Pure Storage has a forecasted upside of 19.3% from its current price of $35.71.
Amount of Analyst Coverage
Pure Storage has been the subject of 10 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

3.0

Short Interest

Percentage of Shares Shorted
2.59% of the outstanding shares of Pure Storage have been sold short.
Short Interest Ratio / Days to Cover
Pure Storage has a short interest ratio ("days to cover") of 2.2, which is generally considered an acceptable ratio of short interest to trading volume.
Change versus previous month
Short interest in Pure Storage has recently increased by 6.68%, indicating that investor sentiment is decreasing significantly.

0.0

Dividend Strength

Dividend Yield
Pure Storage does not currently pay a dividend.
Dividend Growth
Pure Storage does not have a long track record of dividend growth.

2.8

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
Pure Storage has received a 22.63% net impact score from Upright. Pure Storage seems to create the most significant positive value in categories "Taxes", "Jobs", and "Knowledge infrastructure". The positive contribution in the "Knowledge infrastructure" impact category is mostly driven by its "Disaster recovery software", "Hosted data storage services", and "Database management software" products. See details.
Environmental Sustainability
The Environmental Impact score for Pure Storage is -1.11.

3.9

News and Social Media Coverage

News Sentiment
Pure Storage has a news sentiment score of 1.05. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.47 average news sentiment score of Computer and Technology companies.
News Coverage This Week
MarketBeat has tracked 13 news articles for Pure Storage this week, compared to 5 articles on an average week.
Search Interest
58 people have searched for PSTG on MarketBeat in the last 30 days. This is an increase of 142% compared to the previous 30 days.
MarketBeat Follows
47 people have added Pure Storage to their MarketBeat watchlist in the last 30 days. This is an increase of 104% compared to the previous 30 days.

2.5

Company Ownership

Insider Buying vs. Insider Selling
In the past three months, Pure Storage insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $1,340,063.00 in company stock.
Percentage Held by Insiders
Only 6.50% of the stock of Pure Storage is held by insiders.
Percentage Held by Institutions
82.98% of the stock of Pure Storage is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

1.9

Earnings and Valuation

Earnings Growth
Earnings for Pure Storage are expected to grow by 63.33% in the coming year, from $0.30 to $0.49 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Pure Storage is -1,785.25, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.
Price to Earnings Ratio vs. Sector
The P/E ratio of Pure Storage is -1,785.25, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.
Price to Earnings Growth Ratio
Pure Storage has a PEG Ratio of 8.05. PEG Ratios above 1 indicate that a company could be overvalued.
Price to Book Value per Share Ratio
Pure Storage has a P/B Ratio of 11.12. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

See Top Rated MarketRank™ Stocks Here

About Pure Storage (NYSE:PSTG) Stock

Pure Storage, Inc., together with its subsidiaries, provides data storage technologies, products, and services in the United States and internationally. The company's Purity software is shared across its products and provides enterprise-class data services, such as data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object. Its products portfolio includes FlashArray for block-oriented storage, addressing databases, applications, virtual machines, and other traditional workloads; FlashArray//XL; and FlashArray//C, an all-QLC flash array. The company also provides FlashBlade, a solution for unstructured data workloads of various types; FlashStack that combines compute, network, and storage to provide an infrastructure platform; FlashRecover, an all-flash modern data protection solution; and AIRI, a full-stack AI-ready infrastructure. In addition, it offers evergreen storage subscription and Cloud Block Store, as well as Portworx a cloud-native Kubernetes data management solution It also offers technical and professional, training and education, and certification services. The company sells its products and subscription services through direct sales force and channel partners. The company was formerly known as OS76, Inc. and changed its name to Pure Storage, Inc. in January 2010. Pure Storage, Inc. was incorporated in 2009 and is headquartered in Mountain View, California.

PSTG Price History

30 days | 90 days | 365 days | Advanced Chart

PSTG Stock News Headlines

September 18, 2023 | americanbankingnews.com

Q3 2024 EPS Estimates for Pure Storage, Inc. (NYSE:PSTG) Boosted by Zacks Research

September 16, 2023 | americanbankingnews.com

Q4 2024 EPS Estimates for Pure Storage, Inc. (NYSE:PSTG) Raised by Analyst

September 21, 2023 | Edge On The Street (Ad)

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September 10, 2023 | finance.yahoo.com

1 Overlooked Stock for a New AI and Cloud Computing Era

September 7, 2023 | seekingalpha.com

Pure Storage: ARR Gains Will Pave The Way For Further Stock Appreciation

September 6, 2023 | finance.yahoo.com

Pure Storage, Inc. (PSTG) Hit a 52 Week High, Can the Run Continue?

September 5, 2023 | finance.yahoo.com

Unveiling Pure Storage (PSTG)'s Value: Is It Really Priced Right? A Comprehensive Guide

September 1, 2023 | msn.com

Evercore ISI Group Maintains Pure Storage Inc - (PSTG) Outperform Recommendation

September 21, 2023 | Edge On The Street (Ad)

Is Gold Really Boring?

August 31, 2023 | msn.com

Raymond James Maintains Pure Storage Inc - (PSTG) Strong Buy Recommendation

August 31, 2023 | markets.businessinsider.com

Wedbush Maintains Outperform Rating for Pure Storage: Here's What You Need To Know

August 31, 2023 | finance.yahoo.com

Pure Storage Stock Seesaws Despite Beat-And-Raise Earnings Report

August 31, 2023 | au.investing.com

Pure Storage reports Q2 beat, provides guidance

August 30, 2023 | seekingalpha.com

Pure Storage, Inc. 2024 Q2 - Results - Earnings Call Presentation

August 30, 2023 | markets.businessinsider.com

Pure Storage Announces Second Quarter Fiscal 2024 Financial Results

August 30, 2023 | markets.businessinsider.com

Pure Storage Q2 Earnings Summary

August 30, 2023 | finance.yahoo.com

Pure Storage Stock Rises On Clean Beat-And-Raise Earnings Report

August 29, 2023 | msn.com

B of A Securities Maintains Pure Storage Inc - (PSTG) Neutral Recommendation

August 22, 2023 | finance.yahoo.com

Pure Storage (PSTG) Gains 39.4% YTD: Will the Trend Continue?

August 21, 2023 | benzinga.com

Pure Storage Unusual Options Activity For August 21

August 15, 2023 | investing.com

NetApp & Pure Storage added to Evercore’s Tactical Outperform list

August 11, 2023 | markets.businessinsider.com

Analyst Expectations for Pure Storage's Future

August 9, 2023 | finance.yahoo.com

Pure Storage Announces Date and Conference Call Information for Second Quarter Fiscal 2024 Financial Results

August 1, 2023 | finance.yahoo.com

Portworx by Pure Storage Recognized as a Leader in Kubernetes Storage by GigaOm for Fourth Consecutive Year

July 24, 2023 | finance.yahoo.com

Here's Why Pure Storage (PSTG) is a Strong Momentum Stock

July 20, 2023 | benzinga.com

Pure Storage Chief Accounting Officer Trades Company's Stock

July 20, 2023 | finance.yahoo.com

There's Been No Shortage Of Growth Recently For Pure Storage's (NYSE:PSTG) Returns On Capital

See More Headlines

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PSTG Company Calendar

Last Earnings: 11/23/2021
Today: 9/21/2023
Next Earnings (Estimated): 11/29/2023
Fiscal Year End: 1/31/2024

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Industry, Sector and Symbol

Stock Exchange: NYSE
Industry: Computer storage devices
Sub-Industry: N/A
Sector: Computer and Technology
Current Symbol: NYSE:PSTG
CUSIP: N/A
CIK: 1474432
Web: www.purestorage.com
Phone: (800) 379-7873
Fax: 650-625-9667
Employees: 5,100
Year Founded: 2009

Price Target and Rating

Average Stock Price Forecast: $42.59
High Stock Price Forecast: $50.00
Low Stock Price Forecast: $35.00
Forecasted Upside/Downside: +19.3%
Consensus Rating: Moderate Buy
Rating Score (0-4): 2.93
Research Coverage: 14 Analysts

Profitability

EPS (Most Recent Fiscal Year): ($0.02)
Trailing P/E Ratio: N/A
Forward P/E Ratio: 119.02
P/E Growth: 8.05
Net Income: $73.07 million
Net Margins: -0.03%
Pretax Margin: 1.01%
Return on Equity: 8.97%
Return on Assets: 2.56%

Debt

Debt-to-Equity Ratio: 0.10
Current Ratio: 1.70
Quick Ratio: 1.66

Sales & Book Value

Annual Sales: $2.75 billion
Price / Sales: 3.99
Cash Flow: $0.69 per share
Price / Cash Flow: 51.65
Book Value: $3.21 per share
Price / Book: 11.12

Miscellaneous

Outstanding Shares: 307,530,000
Free Float: 287,543,000
Market Cap: $10.98 billion
Optionable: Optionable
Beta: 1.26

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Key Executives

Mr. Charles H. Giancarlo (Age 65)
Chairman & CEO
Comp: $1.81M

Mr. John Colgrove (Age 60)
Founder, Chief Visionary Officer & Director
Comp: $1.2M

Mr. Kevan Krysler (Age 52)
Chief Financial Officer
Comp: $1.25M

Mr. Ajay Singh (Age 65)
Chief Product Officer
Comp: $1.22M

Mr. Dan FitzSimons (Age 56)
Chief Revenue Officer
Comp: $1.18M

Mr. John M. Hayes
Founder & Advisor

Mr. Brad Tallman
Chief Supply Chain Officer & Head of Operations

Ms. Mona Chu (Age 50)
VP & Chief Accounting Officer

Mr. Robert Lee
VP & CTO

Mr. Sanjot Khurana
VP of Investor Relations & Treasurer

Key Competitors

View All Competitors

Insiders & Institutions

View All Insider Transactions
View All Institutional Transactions

PSTG Stock - Frequently Asked Questions

Should I buy or sell Pure Storage stock right now?: 14 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Pure Storage in the last twelve months. There are currently 2 hold ratings, 11 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street equities research analysts is that investors should "moderate buy" PSTG shares.
View PSTG analyst ratings or view top-rated stocks.
What is Pure Storage's stock price forecast for 2023?: 14 Wall Street analysts have issued 1-year price targets for Pure Storage's shares. Their PSTG share price forecasts range from $35.00 to $50.00. On average, they predict the company's stock price to reach $42.59 in the next twelve months. This suggests a possible upside of 19.3% from the stock's current price.
View analysts price targets for PSTG or view top-rated stocks among Wall Street analysts.
How have PSTG shares performed in 2023?: Pure Storage's stock was trading at $26.76 on January 1st, 2023. Since then, PSTG shares have increased by 33.4% and is now trading at $35.7050.
View the best growth stocks for 2023 here.
When is Pure Storage's next earnings date?: The company is scheduled to release its next quarterly earnings announcement on Wednesday, November 29th 2023.
View our PSTG earnings forecast.
How were Pure Storage's earnings last quarter?: Pure Storage, Inc. (NYSE:PSTG) announced its earnings results on Tuesday, November, 23rd. The technology company reported $0.22 earnings per share for the quarter, topping analysts' consensus estimates of $0.12 by $0.10. The technology company earned $562.74 million during the quarter, compared to analyst estimates of $530.66 million. Pure Storage had a positive trailing twelve-month return on equity of 8.97% and a negative net margin of 0.03%. The firm's revenue for the quarter was up 37.1% on a year-over-year basis. During the same period in the previous year, the business posted ($0.22) EPS.
What ETFs hold Pure Storage's stock?: ETFs with the largest weight of Pure Storage (NYSE:PSTG) stock in their portfolio include First Trust Cloud Computing ETF (SKYY), ProShares Ultra Nasdaq Cloud Computing ETF (SKYU), iShares Future Cloud 5G and Tech ETF (IDAT), ERShares Entrepreneurs ETF (ENTR), Wedbush ETFMG Global Cloud Technology ETF (IVES), BlackRock Future Tech ETF (BTEK), Fidelity Cloud Computing ETF (FCLD) and ROBO Global Artificial Intelligence ETF (THNQ).
What guidance has Pure Storage issued on next quarter's earnings?: Pure Storage updated its third quarter 2024 earnings guidance on Wednesday, August, 30th. The company provided earnings per share guidance of for the period. The company issued revenue guidance of $760.00 million-$760.00 million, compared to the consensus revenue estimate of $757.14 million.
What is Charles Giancarlo's approval rating as Pure Storage's CEO?: 117 employees have rated Pure Storage Chief Executive Officer Charles Giancarlo on Glassdoor.com. Charles Giancarlo has an approval rating of 84% among the company's employees.

What other stocks do shareholders of Pure Storage own?: Based on aggregate information from My MarketBeat watchlists, some companies that other Pure Storage investors own include NVIDIA (NVDA), QUALCOMM (QCOM), Nutanix (NTNX), Micron Technology (MU), Advanced Micro Devices (AMD), Block (SQ), Cisco Systems (CSCO), Boeing (BA), Intel (INTC) and Marvell Technology (MRVL).
What is Pure Storage's stock symbol?: Pure Storage trades on the New York Stock Exchange (NYSE) under the ticker symbol "PSTG."
Who are Pure Storage's major shareholders?: Pure Storage's stock is owned by a number of retail and institutional investors. Top institutional investors include Bank Julius Baer & Co. Ltd Zurich (6.21%), BlackRock Inc. (5.00%), Champlain Investment Partners LLC (4.61%), State Street Corp (1.44%), Geode Capital Management LLC (1.33%) and Polar Capital Holdings Plc (0.99%). Insiders that own company stock include Ajay Singh, Andrew William Fraser Brown, Anita M Sands, Dan Fitzsimons, Gregory Tomb, John Francis Murphy, Mallun Yen, Mona Chu, P Kevan Krysler, Roxanne Taylor and Scott Dietzen.
View institutional ownership trends.
How do I buy shares of Pure Storage?: Shares of PSTG stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
Compare Top Brokerages Here.
What is Pure Storage's stock price today?: One share of PSTG stock can currently be purchased for approximately $35.71.
How much money does Pure Storage make?: Pure Storage (NYSE:PSTG) has a market capitalization of $10.98 billion and generates $2.75 billion in revenue each year. The technology company earns $73.07 million in net income (profit) each year or ($0.02) on an earnings per share basis.
How many employees does Pure Storage have?: The company employs 5,100 workers across the globe.
Does Pure Storage have any subsidiaries?: The following companies are subsidiares of Pure Storage: Compuverde, Portworx, Portworx Inc., Pure Crowns Sweden Holding AB, Pure Storage Australia Pty Ltd, Pure Storage Austria GmbH, Pure Storage Belgium BVBA, Pure Storage Bilgi Teknolojileri Limited Şirketi, Pure Storage Canada Limited, Pure Storage Czech Republic s.r.o., Pure Storage France SARL, Pure Storage Germany GmbH, Pure Storage HK Ltd, Pure Storage Holdings Inc., Pure Storage India Private Limited, Pure Storage International Inc., Pure Storage International Limited, Pure Storage Italy SRL, Pure Storage Japan KK, Pure Storage Korea Co Ltd, Pure Storage LLC, Pure Storage Ltd (UK), Pure Storage Malaysia SDN BHD, Pure Storage Mexico S. de R.L. de C.V., Pure Storage Netherlands BV, Pure Storage New Zealand Limited, Pure Storage Poland sp. z o.o., Pure Storage Singapore Pte Ltd, Pure Storage South Africa (Pty) Ltd, Pure Storage Spain SLU, Pure Storage Sweden AB, Pure Storage Switzerland GmbH, Pure Storage do Brasil Solucoes e Servicos de Armazenamento de Dados Ltda, and StorReduce.
Read More
How can I contact Pure Storage?: Pure Storage's mailing address is 650 CASTRO STREET SUITE 400, MOUNTAIN VIEW CA, 94041. The official website for the company is www.purestorage.com. The technology company can be reached via phone at (800) 379-7873, via email at ir@purestorage.com, or via fax at 650-625-9667.

This page (NYSE:PSTG) was last updated on 9/21/2023 by MarketBeat.com Staff

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