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NYSE:PSTG

Pure Storage - PSTG Stock Forecast, Price & News

$30.16
-0.09 (-0.30%)
(As of 08/17/2022 05:18 PM ET)
Add
Compare
Today's Range
$29.75
$30.38
50-Day Range
$24.49
$30.37
52-Week Range
$18.75
$36.71
Volume
2.12 million shs
Average Volume
3.67 million shs
Market Capitalization
$8.93 billion
P/E Ratio
N/A
Dividend Yield
N/A
Price Target
$35.71

Pure Storage MarketRank™ Forecast

Analyst Rating
Moderate Buy
2.86 Rating Score
Upside/​Downside
20.5% Upside
$36.33 Price Target
Short Interest
Bearish
7.09% of Float Sold Short
Dividend Strength
N/A
Sustainability
-1.02
Upright™ Environmental Score
News Sentiment
0.83mentions of Pure Storage in the last 14 days
Based on 4 Articles This Week
Insider Trading
N/A
Proj. Earnings Growth
Growing
From ($0.14) to ($0.04) Per Share

Overall MarketRank

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

2.02 out of 5 stars

Computer And Technology Sector

479th out of 667 stocks

Computer Storage Devices Industry

5th out of 5 stocks

PSTG stock logo

About Pure Storage (NYSE:PSTG) Stock

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.

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PSTG Stock News Headlines

Here is a Simple 4 Stock Portfolio that Can Outperform the Market (PSTG)
Diversification is the edge for any portfolio. Rising inflation is impacting discretionary consumer spending as households try to stretch their wallets.
Use These To Find Your Stock’s Support and Resistance Levels (PSTG)
A stock is a trading and investing instrument representative of an underlying business but surprisingly gets too often misunderstood in a bear market.
27 U.S. Cities Where Stocks Yield 26% a Year
What’s the highest-yielding stock you’ve ever owned? The dividends for these stocks have risen so fast over the years that they’re now yielding us an average of 26%! When you start getting paid 26% on your money, your financial problems tend to pretty much evaporate. pixel
How to Find and Determine Which Stocks Are Worth Holding Through a Bear Market
A bear market can trigger panic to a point where investors literally throw the baby out with the bath water. Bear markets always recover.
UBS Group Cuts Pure Storage (NYSE:PSTG) Price Target to $32.00
He's Giving Away His Ultimate Dividend Package FOR FREE!
Marc Lichtenfeld, Author of Get Rich with Dividends, is giving away his Ultimate Dividend Package, Including Details on His #1 Dividend Stock... the Safest 8% Dividend in the World... the Top Three "Extreme Dividend" Stocks... and Much, Much More. For Free. pixel
Top Tech Stocks for July 2022
PSTG October 2023 Options Begin Trading
6 Analysts Have This to Say About Pure Storage
Is Pure Storage Stock a Buy Under $27?
See More Headlines
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PSTG Company Calendar

Last Earnings
6/01/2022
Today
8/17/2022
Next Earnings (Confirmed)
8/31/2022
Fiscal Year End
1/31/2023

Industry, Sector and Symbol

Industry
Computer storage devices
Sub-Industry
N/A
Employees
4,200
Year Founded
N/A

Price Target and Rating

Average Stock Price Forecast
$36.33
High Stock Price Forecast
$48.00
Low Stock Price Forecast
$27.00
Forecasted Upside/Downside
+18.4%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.86
Research Coverage
21 Analysts

Profitability

Net Income
$-143,260,000.00
Pretax Margin
-2.44%

Debt

Sales & Book Value

Annual Sales
$2.18 billion
Cash Flow
$0.32 per share
Book Value
$2.58 per share

Miscellaneous

Free Float
275,893,000
Market Cap
$8.93 billion
Optionable
Optionable
Beta
1.37

Key Executives














PSTG Stock - Frequently Asked Questions

Should I buy or sell Pure Storage stock right now?

21 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Pure Storage in the last year. There are currently 4 hold ratings, 16 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 2022?

21 equities research analysts have issued twelve-month target prices for Pure Storage's shares. Their PSTG share price forecasts range from $27.00 to $48.00. On average, they predict the company's stock price to reach $36.33 in the next twelve months. This suggests a possible upside of 20.5% 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 2022?

Pure Storage's stock was trading at $32.55 on January 1st, 2022. Since then, PSTG shares have decreased by 7.3% and is now trading at $30.16.
View the best growth stocks for 2022 here
.

When is Pure Storage's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Wednesday, August 31st 2022.
View our PSTG earnings forecast
.

How can I listen to Pure Storage's earnings call?

Pure Storage will be holding an earnings conference call on Wednesday, August 31st at 4:30 PM Eastern. Interested parties can register for or listen to the call using this link or dial in at 866-813-9403 with passcode "367923".

How were Pure Storage's earnings last quarter?

Pure Storage, Inc. (NYSE:PSTG) released its quarterly earnings data on Wednesday, June, 1st. The technology company reported $0.01 EPS for the quarter, topping analysts' consensus estimates of ($0.23) by $0.24. The technology company earned $620.41 million during the quarter, compared to the consensus estimate of $521.81 million. Pure Storage had a negative net margin of 2.96% and a positive trailing twelve-month return on equity of 4.26%. The firm's quarterly revenue was up 50.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.22) EPS.

What guidance has Pure Storage issued on next quarter's earnings?

Pure Storage issued an update on its FY 2023 earnings guidance on Wednesday, June, 29th. The company provided earnings per share guidance of for the period. The company issued revenue guidance of $2.66 billion-$2.66 billion, compared to the consensus revenue estimate of $2.59 billion.

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 retail and institutional investors. Top institutional shareholders include FMR LLC (12.27%), Price T Rowe Associates Inc. MD (5.78%), Champlain Investment Partners LLC (4.91%), William Blair Investment Management LLC (2.37%), Whale Rock Capital Management LLC (1.72%) and Loomis Sayles & Co. L P (1.23%). Insiders that own company stock include Ajay Singh, Andrew William Fraser Brown, Anita M Sands, Gregory Tomb, P Kevan Krysler, Scott Dietzen and Timothy Riitters.
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 $30.16.

How much money does Pure Storage make?

Pure Storage (NYSE:PSTG) has a market capitalization of $8.93 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 ($0.25) on an earnings per share basis.

How many employees does Pure Storage have?

The company employs 4,200 workers across the globe.

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 8/17/2022 by MarketBeat.com Staff

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