Pure Storage - PSTG Stock Forecast, Price & News

Pure Storage, Inc. 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, Pure as-a-Service, 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.

Pure Storage Stock Down 0.3 %

Shares of Pure Storage stock traded down $0.09 during trading on Wednesday, hitting $30.16. 2,119,898 shares of the stock traded hands, compared to its average volume of 3,674,443. The stock has a market cap of $8.93 billion, a price-to-earnings ratio of -121.00 and a beta of 1.37. The firm's fifty day moving average is $26.98 and its 200-day moving average is $28.25. Pure Storage has a 52 week low of $18.75 and a 52 week high of $36.71.

Pure Storage (NYSE:PSTG - Get Rating) last announced its quarterly earnings data on Wednesday, June 1st. The technology company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.23) by $0.24. The firm had revenue of $620.41 million for the quarter, compared to analyst estimates of $521.81 million. Pure Storage had a positive return on equity of 4.26% and a negative net margin of 2.96%. The company's revenue was up 50.3% on a year-over-year basis. During the same period in the prior year, the company earned ($0.22) EPS. On average, analysts forecast that Pure Storage will post -0.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PSTG has been the topic of a number of recent research reports. UBS Group dropped their price target on Pure Storage from $36.00 to $32.00 and set a "neutral" rating on the stock in a research report on Tuesday, August 2nd. Evercore ISI dropped their price target on Pure Storage from $40.00 to $33.00 and set an "outperform" rating on the stock in a research report on Tuesday, June 28th. Cowen dropped their price target on Pure Storage to $30.00 in a research report on Friday, May 27th. StockNews.com raised Pure Storage from a "hold" rating to a "buy" rating in a research report on Wednesday, August 3rd. Finally, Bank of America cut Pure Storage from a "buy" rating to a "neutral" rating and dropped their price target for the company from $34.00 to $27.00 in a research report on Friday, May 20th. Four analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $36.33.