NYSE:PSTG

Pure Storage - PSTG Stock Forecast, Price & News

$29.91

-0.36 (-1.19%)

(As of 02/3/2023 12:00 AM ET)

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Today's Range: $29.60
▼
$30.45
50-Day Range: $25.89
▼
$30.65
52-Week Range: $21.90
▼
$36.71

Volume: 3.78 million shs
Average Volume: 4.42 million shs
Market Capitalization: $9.05 billion

P/E Ratio: 747.94
Dividend Yield: N/A
Price Target: $38.94

Institutional Ownership

Pure Storage MarketRank™ Forecast

Analyst Rating: Moderate Buy
2.89 Rating Score
Upside/Downside: 30.2% Upside
$38.94 Price Target
Short Interest: Bearish
7.16% of Float Sold Short
Dividend Strength: N/A
Sustainability: -1.11
Upright™ Environmental Score
News Sentiment: 0.35
Based on 9 Articles This Week
Insider Trading: Selling Shares
$1.61 M Sold Last Quarter
Proj. Earnings Growth: -28.57%
From $0.21 to $0.15 Per Share

Overall MarketRank^™

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

1.85 out of 5 stars

Computer And Technology Sector

425th out of 608 stocks

Computer Storage Devices Industry

5th out of 5 stocks

3.4

Analyst's Opinion

Consensus Rating
Pure Storage has received a consensus rating of Buy. The company's average rating score is 2.89, and is based on 14 buy ratings, 3 hold ratings, and no sell ratings.
Price Target Upside/Downside
According to analysts' consensus price target of $38.94, Pure Storage has a forecasted upside of 30.2% from its current price of $29.91.
Amount of Analyst Coverage
Pure Storage has only been the subject of 2 research reports in the past 90 days.

1.0

Short Interest

Percentage of Shares Shorted
7.16% of the float of Pure Storage has been sold short.
Short Interest Ratio / Days to Cover
Pure Storage has a short interest ratio ("days to cover") of 5.1.
Change versus previous month
Short interest in Pure Storage has recently increased by 1.60%, indicating that investor sentiment is decreasing.

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.

1.9

News and Social Media Coverage

News Sentiment
Pure Storage has a news sentiment score of 0.35. 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 news sentiment score is similar to the average news sentiment of Computer and Technology companies.
News Coverage This Week
MarketBeat has tracked 9 news articles for Pure Storage this week, compared to 4 articles on an average week.
Search Interest
Only 7 people have searched for PSTG on MarketBeat in the last 30 days. This is a decrease of -13% compared to the previous 30 days.
MarketBeat Follows
Only 7 people have added Pure Storage to their MarketBeat watchlist in the last 30 days. This is a decrease of -46% 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 $1,605,075.00 in company stock.
Percentage Held by Insiders
Only 6.80% of the stock of Pure Storage is held by insiders.
Percentage Held by Institutions
84.96% of the stock of Pure Storage is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

0.0

Earnings and Valuation

Earnings Growth
Earnings for Pure Storage are expected to decrease by -28.57% in the coming year, from $0.21 to $0.15 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Pure Storage is 747.94, which means that it is trading at a more expensive P/E ratio than the market average P/E ratio of about 130.06.
Price to Earnings Ratio vs. Sector
The P/E ratio of Pure Storage is 747.94, which means that it is trading at a more expensive P/E ratio than the Computer and Technology sector average P/E ratio of about 344.26.
Price to Earnings Growth Ratio
Pure Storage has a PEG Ratio of 9.09. 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 11.59. 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. engages in the provision of flash-based storage solutions. Its technology replaces storage systems designed for mechanical disks with all-flash systems optimized end-to-end for solid-state memory. The company was founded by John Hayes and John Colgrove in October 2009 and is headquartered in Mountain View, CA.

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PSTG Stock News Headlines

February 2, 2023 | finance.yahoo.com

Quantum Corp. (QMCO) Q3 Earnings and Revenues Top Estimates

January 31, 2023 | americanbankingnews.com

Northland Capmk Equities Analysts Reduce Earnings Estimates for Pure Storage, Inc. (NYSE:PSTG)

February 5, 2023 | Investor Place Media (Ad)

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January 29, 2023 | americanbankingnews.com

Analysts Set Pure Storage, Inc. (NYSE:PSTG) Target Price at $38.94

January 26, 2023 | finance.yahoo.com

Aspen Technology (AZPN) Q2 Earnings & Revenues Miss Estimates

January 24, 2023 | stocknews.com

Is It Smart to Store Your Money in Pure Storage Stock This Winter?

January 20, 2023 | seekingalpha.com

Pure Storage: Attractive In A World Heavily Loaded With Data

January 18, 2023 | seekingalpha.com

Pure Storage: Growing Cashflow, Aggressive Buybacks A Perfect Mix For FY 2023

February 5, 2023 | Investor Place Media (Ad)

Cash Holders STILL Aren't Taking Steps to Prepare

January 18, 2023 | finance.yahoo.com

Here's Why You May Consider Adding WIX to Your Portfolio

January 17, 2023 | finance.yahoo.com

Simulations Plus (SLP) Rolls Out New Version of DILIsym

January 17, 2023 | finance.yahoo.com

With Industry-First Energy Efficiency Guarantee, Pure Storage Further Expands SLA Offerings for Evergreen//One

January 13, 2023 | finance.yahoo.com

Cutera (CUTR) Announces Preliminary Full-Year 2022 Results

January 5, 2023 | finance.yahoo.com

Should Weakness in Pure Storage, Inc.'s (NYSE:PSTG) Stock Be Seen As A Sign That Market Will Correct The Share Price Given Decent Financials?

January 1, 2023 | reuters.com

Pure Storage Inc

December 30, 2022 | finance.yahoo.com

Why Is Pure Storage (PSTG) Down 10.6% Since Last Earnings Report?

December 28, 2022 | thestreet.com

Pure Storage (PSTG) Stock Coverage Initiated With a Positive Outlook

December 19, 2022 | finance.yahoo.com

Pure Storage (NYSE:PSTG) shareholders are still up 77% over 5 years despite pulling back 4.0% in the past week

December 8, 2022 | finance.yahoo.com

Pure Storage, Inc. (NYSE:PSTG) Q3 2023 Earnings Call Transcript

December 2, 2022 | finance.yahoo.com

Pure Storage Third Quarter 2023 Earnings: US$0.003 loss per share (vs US$0.10 loss in 3Q 2022)

December 1, 2022 | benzinga.com

This Is What Whales Are Betting On Pure Storage

November 30, 2022 | finance.yahoo.com

Pure Storage (PSTG) Q3 Earnings and Revenues Beat Estimates

November 30, 2022 | finance.yahoo.com

Pure Storage Third-Quarter Results Beat Estimates

November 29, 2022 | msn.com

Earnings Preview For Pure Storage

November 27, 2022 | finance.yahoo.com

Dow Jones Futures Fall: 3 Key Factors For The Market Rally; Why You Should Be Cautious

November 27, 2022 | finance.yahoo.com

When Should You Buy Pure Storage, Inc. (NYSE:PSTG)?

November 25, 2022 | markets.businessinsider.com

Analyst Ratings for Pure Storage

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30 days | 90 days | 365 days | Advanced Chart

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PSTG Company Calendar

Last Earnings: 11/30/2022
Today: 2/05/2023
Next Earnings (Estimated): 3/01/2023
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: 4,200
Year Founded: 2009

Price Target and Rating

Average Stock Price Forecast: $38.94
High Stock Price Forecast: $47.00
Low Stock Price Forecast: $27.00
Forecasted Upside/Downside: +30.2%
Consensus Rating: Moderate Buy
Rating Score (0-4): 2.89
Research Coverage: 18 Analysts

Profitability

EPS (Most Recent Fiscal Year): $0.04
Trailing P/E Ratio: 747.94
Forward P/E Ratio: 142.43
P/E Growth: 9.09
Net Income: $-143,260,000.00
Net Margins: 0.51%
Pretax Margin: 1.14%
Return on Equity: 13.11%
Return on Assets: 3.30%

Debt

Debt-to-Equity Ratio: N/A
Current Ratio: 1.36
Quick Ratio: 1.32

Sales & Book Value

Annual Sales: $2.18 billion
Price / Sales: 4.15
Cash Flow: $0.32 per share
Price / Cash Flow: 92.72
Book Value: $2.58 per share
Price / Book: 11.59

Miscellaneous

Outstanding Shares: 302,590,000
Free Float: 282,010,000
Market Cap: $9.05 billion
Optionable: Optionable
Beta: 1.23

Social Links

Key Executives

Charles H. Giancarlo
Chairman & Chief Executive Officer

Michael Fitzgerald
Vice President-Operations

Kevan Krysler
Chief Financial Officer

Robert Lee
Chief Technology Officer

King Yuet Chu
Chief Accounting Officer & Vice President

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?: 18 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Pure Storage in the last twelve months. There are currently 3 hold ratings, 14 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street analysts is that investors should "buy" PSTG shares.
View PSTG analyst ratings or view top-rated stocks.
What is Pure Storage's stock price forecast for 2023?: 18 Wall Street analysts have issued 1 year price targets for Pure Storage's shares. Their PSTG share price forecasts range from $27.00 to $47.00. On average, they expect the company's share price to reach $38.94 in the next twelve months. This suggests a possible upside of 30.2% 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 stock has increased by 11.8% and is now trading at $29.91.
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, March 1st 2023.
View our PSTG earnings forecast.
How were Pure Storage's earnings last quarter?: Pure Storage, Inc. (NYSE:PSTG) issued its quarterly earnings data on Wednesday, November, 30th. The technology company reported $0.08 EPS for the quarter, beating analysts' consensus estimates of ($0.01) by $0.09. The technology company had revenue of $676.05 million for the quarter, compared to analysts' expectations of $671.84 million. Pure Storage had a trailing twelve-month return on equity of 13.11% and a net margin of 0.51%.
What guidance has Pure Storage issued on next quarter's earnings?: Pure Storage updated its fourth quarter 2023 earnings guidance on Friday, December, 30th. The company provided earnings per share guidance of for the period. The company issued revenue guidance of $810.00 million-$810.00 million, compared to the consensus revenue estimate of $813.32 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 variety of institutional and retail investors. Top institutional investors include Scout Investments Inc. (0.62%), Assenagon Asset Management S.A. (0.38%), Strs Ohio (0.30%), New York State Common Retirement Fund (0.19%), National Bank of Canada FI (0.19%) and Pembroke Management LTD (0.18%). Insiders that own company stock include Ajay Singh, Andrew William Fraser Brown, Anita M Sands, Dan Fitzsimons, Gregory Tomb, P Kevan Krysler 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 $29.91.
How much money does Pure Storage make?: Pure Storage (NYSE:PSTG) has a market capitalization of $9.05 billion and generates $2.18 billion in revenue each year. The technology company earns $-143,260,000.00 in net income (profit) each year or $0.04 on an earnings per share basis.
How many employees does Pure Storage have?: The company employs 4,200 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 2/5/2023 by MarketBeat.com Staff

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Pure Storage - PSTG Stock Forecast, Price & News

Pure Storage MarketRank™ Forecast

Overall MarketRank™

Analyst's Opinion

Short Interest

Percentage of Shares Shorted

Short Interest Ratio / Days to Cover

Change versus previous month

Dividend Strength

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score

Environmental Sustainability

News and Social Media Coverage

News Sentiment

News Coverage This Week

Search Interest

MarketBeat Follows

Company Ownership

Earnings and Valuation

About Pure Storage (NYSE:PSTG) Stock

PSTG Stock News Headlines

PSTG Company Calendar

Industry, Sector and Symbol

Price Target and Rating

Profitability

Debt

Sales & Book Value

Miscellaneous

Social Links

Key Executives

Key Competitors

Insiders & Institutions

PSTG Stock - Frequently Asked Questions

Overall MarketRank^™