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Pure Storage Inc. (NYSE:PSTG) Down -7.89% Over The Past 30 Days: Any Troubles Ahead?

In recent trading session, Pure Storage Inc. (NYSE:PSTG) saw 1.53 million shares changing hands at last check today with its beta currently measuring 1.35. Company’s recent per share price level of $26.61 trading at -$0.96 or -3.46% at last check today assigns it a market valuation of $8.16B. That most recent trading price of PSTG’s stock is at a discount of -37.96% from its 52-week high price of $36.71 and is indicating a premium of 17.7% from its 52-week low price of $21.90. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 3.85 million shares which gives us an average trading volume of 3.20 million if we extend that period to 3-months.

For Pure Storage Inc. (PSTG), analysts’ consensus is at an average recommendation of a Buy while assigning it a mean rating of 2.10. Splitting up the data highlights that, out of 21 analysts covering the stock, 0 rated the stock as a Sell while 2 recommended an Overweight rating for the stock. 4 suggested the stock as a Hold whereas 15 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of $0.25 in the current quarter.

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Pure Storage Inc. (NYSE:PSTG) trade information

Upright in the red during last session for losing -3.46%, in the last five days PSTG remained trading in the red while hitting it’s week-highest on Friday, 09/16/22 when the stock touched $26.61 price level, adding 7.44% to its value on the day. Pure Storage Inc.’s shares saw a change of -15.30% in year-to-date performance and have moved -7.08% in past 5-day. Pure Storage Inc. (NYSE:PSTG) showed a performance of -7.89% in past 30-days. Number of shares sold short was 19.53 million shares which calculate 7.33 days to cover the short interests.

Wall Street analysts have assigned a consensus price target of $39.32 to the stock, which implies a rise of 32.32% to its recent value today. Analysts have been projecting $33.00 as a low price target for the stock while placing it at a high target of $47.00. It follows that stock’s current price would drop -76.63% in reaching the projected high whereas dropping to the targeted low would mean a loss of -24.01% for stock’s current value.

Pure Storage Inc. (PSTG) estimates and forecasts

Statistics highlight that Pure Storage Inc. is scoring comparatively higher than the scores of other players of the relevant industry. The company lost -21.79% of value to its shares in past 6 months, showing an annual growth rate of 63.89% while that of industry is -6.30. Apart from that, the company came raising its revenue forecast for fiscal year 2022. The company is estimating its revenue growth to increase by 13.60% in the current quarter and calculating -5.60% decrease in the next quarter. This year revenue growth is estimated to rise 26.20% from the last financial year’s standing.

18 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $671.36 million for the same. And 17 analysts are in estimates of company making revenue of $813.28 million in the next quarter that will end on Jan 2023.

Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of 15.10% during past 5 years. In 2022, company’s earnings growth rate is likely to be around 52.40% while estimates for its earnings growth in next 5 years are of 31.76%.

PSTG Dividends

Pure Storage Inc. is more likely to be releasing its next quarterly report between November 21 and November 25 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

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

Insiders are in possession of 6.01% of company’s total shares while institution are holding 84.91 percent of that, with stock having share float percentage of 90.34%. Investors also watch the number of corporate investors in a company very closely, which is 84.91% institutions for Pure Storage Inc. that are currently holding shares of the company. FMR, LLC is the top institutional holder at PSTG for having 36.32 million shares of worth $958.76 million. And as of Jun 29, 2022, it was holding 12.15% of the company’s outstanding shares.

The second largest institutional holder is Vanguard Group, Inc. (The), which was holding about 27.72 million shares on Jun 29, 2022. The number of shares represents firm’s hold over 9.27% of outstanding shares, having a total worth of $731.7 million.

On the other hand, Fidelity Growth Company Fund and Price (T.Rowe) Science & Technology Fund are the top two Mutual Funds which own company’s shares. As of Jul 30, 2022, the former fund manager was holding 11.42 million shares of worth $301.36 million or 3.82% of the total outstanding shares. The later fund manager was in possession of 10.23 million shares on Jun 29, 2022, making its stake of worth around $270.17 million in the company or a holder of 3.42% of company’s stock.

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