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Pure Storage (PSTG) Stock Price, News & Analysis

Pure Storage logo
$50.08
-3.33 (-6.23%)
(As of 10/31/2024 ET)

About Pure Storage Stock (NYSE:PSTG)

Key Stats

Today's Range
$49.90
$52.78
50-Day Range
$45.74
$61.60
52-Week Range
$31.00
$70.41
Volume
3.03 million shs
Average Volume
3.70 million shs
Market Capitalization
$16.41 billion
P/E Ratio
125.20
Dividend Yield
N/A
Price Target
$68.05
Consensus Rating
Moderate Buy

Company Overview

Pure Storage, Inc. engages in the provision of data storage and management technologies, products, and services in the United States and internationally. Its Purity software is shared across its products and provides enterprise-class data services, such as always-on data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object. The company also provides FlashArray integrated hardware systems, including FlashArray//X, FlashArray//C, FlashArray//XL, FlashArray//E, and FlashArray File Services for block-oriented storage, addressing databases, applications, virtual machines, and other traditional workloads; and FlashBlade integrated hardware systems comprising FlashBlade//S and FlashBlade//E for managing and processing unstructured data workloads of various types from real-time log analytics and commercial high-performance computing (HPC) to data protection and recovery. In addition, it offers cloud-native storage solutions, such as Portworx by Pure Storage, a cloud-native Kubernetes data management solution; and Portworx Data Services, a Database-as-a-Service platform for Kubernetes. Further, the company provides Pure Fusion, a Software-as-a-Service (SaaS) management plane, which enables storage administrators to unify storage arrays and optimize storage pools; Evergreen Architecture comprising Pure1, an AI-driven cloud-based management platform, as well as Evergreen//One and Evergreen//Flex data storage solutions; and Cloud Block Store, a virtual block storage array, that provides customers the flexibility to operate a hybrid cloud model with seamless data mobility across on-premises and public cloud environments. It 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 Santa Clara, California.

Pure Storage Stock Analysis - MarketRank™

See Top Rated MarketRank™ Stocks
100th Percentile Overall Score

PSTG MarketRank™: 

Pure Storage scored higher than 100% of companies evaluated by MarketBeat, and ranked 8th out of 670 stocks in the computer and technology sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

  • Consensus Rating

    Pure Storage has received a consensus rating of Moderate Buy. The company's average rating score is 2.55, and is based on 12 buy ratings, 7 hold ratings, and 1 sell rating.

  • Amount of Analyst Coverage

    Pure Storage has been the subject of 13 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

  • Read more about Pure Storage's stock forecast and price target.
  • Earnings Growth

    Earnings for Pure Storage are expected to grow by 65.12% in the coming year, from $0.43 to $0.71 per share.

  • Price to Earnings Ratio vs. the Market

    The P/E ratio of Pure Storage is 125.13, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 135.44.

  • Price to Earnings Ratio vs. Sector

    The P/E ratio of Pure Storage is 125.13, which means that it is trading at a less expensive P/E ratio than the Computer and Technology sector average P/E ratio of about 271.59.

  • Price to Earnings Growth Ratio

    Pure Storage has a PEG Ratio of 8.47. 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 11.97. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

  • Read more about Pure Storage's valuation and earnings.
  • Percentage of Shares Shorted

    2.72% 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 3, which is generally considered an acceptable ratio of short interest to trading volume.
  • Change versus previous month

    Short interest in Pure Storage has recently decreased by 8.44%, indicating that investor sentiment is improving significantly.
  • Dividend Yield

    Pure Storage does not currently pay a dividend.

  • Dividend Growth

    Pure Storage does not have a long track record of dividend growth.

  • Percentage of Shares Shorted

    2.72% 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 3, which is generally considered an acceptable ratio of short interest to trading volume.
  • Change versus previous month

    Short interest in Pure Storage has recently decreased by 8.44%, indicating that investor sentiment is improving significantly.
  • News Sentiment

    Pure Storage has a news sentiment score of 0.89. 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 0.55 average news sentiment score of Computer and Technology companies.
  • News Coverage This Week

    MarketBeat has tracked 4 news articles for Pure Storage this week, compared to 10 articles on an average week.
  • Search Interest

    18 people have searched for PSTG on MarketBeat in the last 30 days. This is an increase of 100% compared to the previous 30 days.
  • MarketBeat Follows

    20 people have added Pure Storage to their MarketBeat watchlist in the last 30 days. This is an increase of 33% compared to the previous 30 days.
  • 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 $30,014,030.00 in company stock.

  • Percentage Held by Insiders

    Only 6.00% of the stock of Pure Storage is held by insiders.

  • Percentage Held by Institutions

    83.42% of the stock of Pure Storage is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

  • Read more about Pure Storage's insider trading history.
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PSTG Stock News Headlines

Banking failure dead ahead
If you missed it, my emergency election broadcast is now available - but will be removed soon
Evercore ISI Sticks to Its Buy Rating for Pure Storage (PSTG)
See More Headlines

PSTG Stock Analysis - Frequently Asked Questions

Pure Storage's stock was trading at $35.66 at the beginning of the year. Since then, PSTG stock has increased by 40.4% and is now trading at $50.05.
View the best growth stocks for 2024 here
.

Pure Storage, Inc. (NYSE:PSTG) released its earnings results on Wednesday, August, 28th. The technology company reported $0.20 earnings per share for the quarter, topping analysts' consensus estimates of $0.10 by $0.10. The technology company had revenue of $763.77 million for the quarter, compared to analysts' expectations of $756.59 million. Pure Storage had a net margin of 4.53% and a trailing twelve-month return on equity of 17.41%.

Pure Storage subsidiaries include Portworx, Compuverde, StorReduce, Portworx Inc., Pure Crowns Sweden Holding AB, Pure Storage Australia Pty Ltd, Pure Storage Austria GmbH, and more.

Pure Storage's top institutional shareholders include Congress Asset Management Co. (0.58%), Stephens Investment Management Group LLC (0.35%), National Pension Service (0.17%) and Pembroke Management LTD (0.13%). Insiders that own company stock include P Kevan Krysler, Ajay Singh, John Colgrove, Scott Dietzen, Dan Fitzsimons, Mona Chu, John Francis Murphy, Mallun Yen, Gregory Tomb, Andrew William Fraser Brown and Roxanne Taylor.
View institutional ownership trends
.

Shares of PSTG stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

Based on aggregate information from My MarketBeat watchlists, some other companies that Pure Storage investors own include CRISPR Therapeutics (CRSP), Opendoor Technologies (OPEN), NVIDIA (NVDA), Meta Platforms (META), Chevron (CVX), Bristol-Myers Squibb (BMY) and Advanced Micro Devices (AMD).

Company Calendar

Last Earnings
8/28/2024
Today
10/31/2024
Next Earnings (Estimated)
12/04/2024
Fiscal Year End
1/31/2025

Industry, Sector and Symbol

Industry
Computer storage devices
Sub-Industry
Computer Hardware
Employees
5,600
Year Founded
2009

Price Target and Rating

Average Stock Price Target
$68.05
High Stock Price Target
$93.00
Low Stock Price Target
$45.00
Potential Upside/Downside
+36.0%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.55
Research Coverage
20 Analysts

Profitability

Net Income
$61.31 million
Pretax Margin
5.54%

Debt

Sales & Book Value

Annual Sales
$2.83 billion
Cash Flow
$0.80 per share
Book Value
$4.18 per share

Miscellaneous

Free Float
308,030,000
Market Cap
$16.40 billion
Optionable
Optionable
Beta
1.11

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This page (NYSE:PSTG) was last updated on 10/31/2024 by MarketBeat.com Staff
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