The Pure Storage Inc. (NYSE: PSTG) Stock Dropped -17.37% In A Single Month – Are There Any Hopes For A Gain? – Marketing Sentinel
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The Pure Storage Inc. (NYSE: PSTG) Stock Dropped -17.37% In A Single Month – Are There Any Hopes For A Gain?

During the recent session, Pure Storage Inc. (NYSE:PSTG)’s traded shares were 1.01 million, with the beta value of the company hitting 1.50. At the last check today, the stock’s price was $26.48, reflecting an intraday gain of 5.04% or $1.27. The 52-week high for the PSTG share is $36.71, that puts it down -38.63 from that peak though still a striking 36.44% gain since the share price plummeted to a 52-week low of $16.83. The company’s market capitalization is $7.64B, and the average intraday trading volume over the past 10 days was 3.33 million shares, and the average trade volume was 3.80 million shares over the past three months.

Pure Storage Inc. (PSTG) received a consensus recommendation of a Buy from analysts. That translates to a mean rating of 1.80. PSTG has a Sell rating from 0 analyst(s) out of 20 analysts who have looked at this stock. 3 analyst(s) recommend to Hold the stock while 2 suggest Overweight, and 15 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.26.

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Pure Storage Inc. (NYSE:PSTG) trade information

Pure Storage Inc. (PSTG) registered a 5.04% upside in the last session and has traded in the red over the past 5 sessions. The stock spiked 5.04% in intraday trading to $26.48 this Thursday, 05/12/22, hitting a weekly high. The stock’s 5-day price performance is -9.25%, and it has moved by -17.37% in 30 days. Based on these gigs, the overall price performance for the year is 46.74%. The short interest in Pure Storage Inc. (NYSE:PSTG) is 17.28 million shares and it means that shorts have 3.64 day(s) to cover.

The consensus price target of analysts on Wall Street is $38.44, which implies an increase of 31.11% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $34.00 and $48.00 respectively. As a result, PSTG is trading at a discount of -81.27% off the target high and -28.4% off the low.

Pure Storage Inc. (PSTG) estimates and forecasts

Statistics show that Pure Storage Inc. has outperformed its competitors in share price, compared to the industry in which it operates. Pure Storage Inc. (PSTG) shares have gone down -11.08% during the last six months, with a year-to-date growth rate more than the industry average at 19.44% against 5.30. In the rating firms’ projections, revenue will increase 24.70% compared to the previous financial year.

Revenue for the current quarter is expected to be $627.79 million as predicted by 18 analyst(s). Meanwhile, a consensus of 16 analyst(s) estimates revenue growth to $511.07 million by the end of Apr 2022.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 15.10%. While earnings are projected to return 52.40% in 2022, the next five years will return 65.14% per annum.

PSTG Dividends

Pure Storage Inc. is due to release its next quarterly earnings between February 22 and February 28. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Pure Storage Inc. (NYSE:PSTG)’s Major holders

Pure Storage Inc. insiders own 6.05% of total outstanding shares while institutional holders control 82.85%, with the float percentage being 88.18%. Vanguard Group, Inc. (The) is the largest shareholder of the company, while 411 institutions own stock in it. As of Sep 29, 2021, the company held over 25.41 million shares (or 8.77% of all shares), a total value of $639.44 million in shares.

The next largest institutional holding, with 25.38 million shares, is of FMR, LLC’s that is approximately 8.75% of outstanding shares. At the market price on Sep 29, 2021, these shares were valued at $638.45 million.

Also, the Mutual Funds coming in first place with the largest holdings of Pure Storage Inc. (PSTG) shares are Price (T.Rowe) Science & Technology Fund and First Tr Exchange Traded Fd II-First Tr Cloud Computing ETF. Data provided on Sep 29, 2021 indicates that Price (T.Rowe) Science & Technology Fund owns about 15.28 million shares. This amounts to just over 5.27 percent of the company’s overall shares, with a $384.46 million market value. The same data shows that the other fund manager holds slightly less at 8.69 million, or about 3.00% of the stock, which is worth about $233.28 million.

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