Pure Storage Inc (NYSE:PSTG) price on Thursday, March 28, rose 0.57% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $52.85.
A look at the stock’s price movement, the level at last check in today’s session was $52.55. The beta value (5-Year monthly) was 1.16 while the PE ratio in trailing twelve months stood at 311.24. Turning to its 52-week performance, $58.46 and $22.14 were the 52-week high and 52-week low respectively. Overall, PSTG moved 25.47% over the past month.
Pure Storage Inc’s market cap currently stands at around $16.70 billion, with investors looking forward to this quarter’s earnings report slated for May 29, 2024 – Jun 03, 2024. Analysts project the company’s earnings per share (EPS) to be $0.21, which has seen fiscal year 2025 EPS growth forecast to increase to $1.56 and about $1.83 for fiscal year 2026.
Analysts have a consensus estimate of $680.99 million for the company’s revenue for the quarter, with a low and high estimate of $679.49 million and $690.1 million respectively. Wall Street analysts have also projected the company’s year-on-year revenue for 2025 to grow to $3.13 billion, representing a 10.50% jump on that reported in the last financial year.
Revisions could be used as tool to get short term price movement insight, and for the company that in the past seven days was no upward and no downward review(s). Turning to the stock’s technical picture we see that short term indicators suggest on average that PSTG is a 50% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
The technical evaluation for the stock shows the PEG ratio is 17.58, with PSTG’s current price about -0.32% and 14.57% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 59.92, while 7-day volatility ratio is 2.85% and 4.28% in the 30-day chart. Further, Pure Storage Inc (PSTG) has a beta value of 1.15, and an average true range (ATR) of 1.94.
If we refocus on Pure Storage Inc (NYSE:PSTG), historical trading data shows that trading volumes averaged 3.21 million over the past 10 days and 4.99 million over the past 3 months. The company’s latest data on shares outstanding shows there are 304.08 million shares.
The 6.52% of Pure Storage Inc’s shares are in the hands of company insiders while institutional holders own 83.89% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 8.59 million on Mar 15, 2024, giving us a short ratio of 1.67. The data shows that as of Mar 15, 2024 short interest in Pure Storage Inc (PSTG) stood at 2.72% of shares outstanding, with shares short falling to 9.69 million registered in Feb 15, 2024. Current price change has pushed the stock 48.20% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the PSTG stock continues to rise going into the next quarter.
