During the last three months, 15 analysts shared their evaluations of Pure Storage PSTG, revealing diverse outlooks from bullish to bearish.
The table below provides a snapshot of their recent ratings, showcasing how sentiments have evolved over the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 3 | 8 | 4 | 0 | 0 |
| Last 30D | 0 | 0 | 1 | 0 | 0 |
| 1M Ago | 0 | 0 | 0 | 0 | 0 |
| 2M Ago | 1 | 2 | 0 | 0 | 0 |
| 3M Ago | 2 | 6 | 3 | 0 | 0 |
Providing deeper insights, analysts have established 12-month price targets, indicating an average target of $55.47, along with a high estimate of $66.00 and a low estimate of $44.00. This upward trend is evident, with the current average reflecting a 21.91% increase from the previous average price target of $45.50.
Breaking Down Analyst Ratings: A Detailed Examination
A comprehensive examination of how financial experts perceive Pure Storage is derived from recent analyst actions. The following is a detailed summary of key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Tim Long | Barclays | Maintains | Equal-Weight | $51.00 | $51.00 |
| Simon Leopold | Raymond James | Raises | Outperform | $63.00 | $52.00 |
| Mehdi Hosseini | Susquehanna | Raises | Positive | $65.00 | $45.00 |
| Mike Cikos | Needham | Maintains | Buy | $66.00 | - |
| Asiya Merchant | Citigroup | Announces | Buy | $65.00 | - |
| Thomas Blakey | Keybanc | Raises | Overweight | $64.00 | $55.00 |
| Mike Cikos | Needham | Announces | Buy | $66.00 | - |
| Thomas Blakey | Keybanc | Raises | Overweight | $55.00 | $51.00 |
| Matthew Sheerin | Stifel | Raises | Hold | $46.00 | $41.00 |
| Meta Marshall | Morgan Stanley | Raises | Overweight | $48.00 | $43.00 |
| Pinjalim Bora | JP Morgan | Raises | Overweight | $50.00 | $45.00 |
| Wamsi Mohan | B of A Securities | Raises | Neutral | $50.00 | $42.00 |
| Tim Long | Barclays | Raises | Overweight | $51.00 | $42.00 |
| David Vogt | UBS | Raises | Neutral | $44.00 | $38.00 |
| Amit Daryanani | Evercore ISI Group | Raises | Outperform | $48.00 | $41.00 |
Key Insights:
- Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to Pure Storage. This offers insight into analysts' perspectives on the current state of the company.
- Rating: Unveiling insights, analysts deliver qualitative insights into stock performance, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Pure Storage compared to the broader market.
- Price Targets: Delving into movements, analysts provide estimates for the future value of Pure Storage's stock. This analysis reveals shifts in analysts' expectations over time.
Assessing these analyst evaluations alongside crucial financial indicators can provide a comprehensive overview of Pure Storage's market position. Stay informed and make well-judged decisions with the assistance of our Ratings Table.
Stay up to date on Pure Storage analyst ratings.
All You Need to Know About Pure Storage
Pure Storage Inc is a U.S.-based company that provides an enterprise data storage platform that transforms business through a dramatic increase in performance and reduction in complexity and costs. It generates revenue from two sources: product revenue which includes the sale of integrated storage hardware and embedded operating system software and; subscription services revenue which includes Evergreen Storage subscriptions, a unified subscription which includes Pure as-a-Service, and Cloud Block Store, and Portworx. Subscription services revenue also includes professional services offerings such as installation and implementation consulting services.
Pure Storage: A Financial Overview
Market Capitalization Analysis: Falling below industry benchmarks, the company's market capitalization reflects a reduced size compared to peers. This positioning may be influenced by factors such as growth expectations or operational capacity.
Revenue Challenges: Pure Storage's revenue growth over 3 months faced difficulties. As of 31 January, 2024, the company experienced a decline of approximately -2.52%. This indicates a decrease in top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Information Technology sector.
Net Margin: Pure Storage's financial strength is reflected in its exceptional net margin, which exceeds industry averages. With a remarkable net margin of 8.29%, the company showcases strong profitability and effective cost management.
Return on Equity (ROE): Pure Storage's ROE excels beyond industry benchmarks, reaching 5.41%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): Pure Storage's financial strength is reflected in its exceptional ROA, which exceeds industry averages. With a remarkable ROA of 1.87%, the company showcases efficient use of assets and strong financial health.
Debt Management: Pure Storage's debt-to-equity ratio is below the industry average. With a ratio of 0.21, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
The Significance of Analyst Ratings Explained
Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts assess and rate each stock once per quarter.
Analysts may enhance their evaluations by incorporating forecasts for metrics like growth estimates, earnings, and revenue, delivering additional guidance to investors. It is vital to acknowledge that, although experts in stocks and sectors, analysts are human and express their opinions when providing insights.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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