Pure Storage, Inc. (NYSE:PSTG) has a beta value of 1.4 and has seen 870,802 shares traded in the recent trading session. The company, currently valued at $5.36 Billion, closed the recent trade at $18.8 per share which meant it lost -$0.79 on the day or -4.03% during that session. The PSTG stock price is -57.07% off its 52-week high price of $29.53 and 30.11% above the 52-week low of $13.14. If we look at the company’s 10-day average daily trading volume, we find that it stood at 2.43 Million shares traded. The 3-month trading volume is 4.91 Million shares.
The consensus among analysts is that Pure Storage, Inc. (PSTG) is an Overweight stock at the moment, with a recommendation rating of 2.1. None of the analysts rate the stock as a Sell, while none rate it as Overweight. 7 out of 21 have rated it as a Hold, with 14 advising it as a Buy. None have rated the stock as Underweight. The expected earnings per share for the stock is -$0.06.
Pure Storage, Inc. (NYSE:PSTG) trade information
Despite being -4.03% in the red today, the stock has traded in the green over the last five days, with the highest price hit on Thursday, Apr 29 when the PSTG stock price touched $21.10- or saw a rise of 10.4%. Year-to-date, Pure Storage, Inc. shares have moved -16.36%, while the 5-day performance has seen it change -10.38%. Over the past 30 days, the shares of Pure Storage, Inc. (NYSE:PSTG) have changed -13.93%. Short interest in the company has seen 12.62 Million shares shorted with days to cover at 2.57.
Wall Street analysts have a consensus price target for the stock at $28.53, which means that the shares’ value could jump 51.76% from the levels at last check today. The projected low price target is $21 while the price target rests at a high of $33. In that case, then, we find that the latest price level in today’s session is +75.53% off the targeted high while a plunge would see the stock lose 11.7% from the levels at last check today.
Pure Storage, Inc. (PSTG) estimates and forecasts
Figures show that Pure Storage, Inc. shares have outperformed across the wider relevant industry. The company’s shares have gained +15.92% over the past 6 months, with this year growth rate of 21.74%, compared to -3.1% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2021 fiscal year revenue. Growth estimates for the current quarter are -200% and -50% for the next quarter. Revenue growth from the last financial year stood is estimated to be +15%.
21 analysts offering their estimates for the company have set an average revenue estimate of $405.88 Million for the current quarter. 20 have an estimated revenue figure of $457.99 Million for the next quarter concluding in July 01, 2021. Year-ago sales stood $349.4 Million for this quarter, and analysts expect sales will grow by 16.2% for the current quarter.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was +16.5% over the past 5 years. Earnings growth for 2021 is a modest -32.5% while over the next 5 years, the company’s earnings are expected to increase by 54.38%.
Pure Storage, Inc. (NYSE:PSTG)’s Major holders
Insiders own 7.65% of the company shares, while shares held by institutions stand at 85.73% with a share float percentage of 92.84%. Investors are also buoyed by the number of investors in a company, with Pure Storage, Inc. having a total of 373 institutions that hold shares in the company. The top two institutional holders are ARK Investment Management, LLC with over 41.16 Million shares worth more than $930.66 Million. As of December 30, 2020, ARK Investment Management, LLC held 14.68% of shares outstanding.
The other major institutional holder is FMR, LLC, with the holding of over 22.23 Million shares as of December 30, 2020. The firm’s total holdings are worth over $502.68 Million and represent 7.93% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are ARK ETF Tr-ARK Innovation ETF and Price (T.Rowe) Science & Technology Fund. As of March 30, 2021, the former fund manager holds about 6.15% shares in the company for having 17240318 shares of worth $371.36 Million while later fund manager owns 14.33 Million shares of worth $324.09 Million as of December 30, 2020, which makes it owner of about 5.11% of company’s outstanding stock.