In the latest quarter, 27 analysts provided ratings for Pure Storage PSTG, showcasing a mix of bullish and bearish perspectives.
In the table below, you'll find a summary of their recent ratings, revealing the shifting sentiments over the past 30 days and comparing them to the previous months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 8 | 12 | 6 | 0 | 1 |
| Last 30D | 0 | 0 | 0 | 0 | 1 |
| 1M Ago | 3 | 1 | 1 | 0 | 0 |
| 2M Ago | 4 | 9 | 5 | 0 | 0 |
| 3M Ago | 1 | 2 | 0 | 0 | 0 |
Insights from analysts' 12-month price targets are revealed, presenting an average target of $69.93, a high estimate of $80.00, and a low estimate of $47.00. Surpassing the previous average price target of $59.81, the current average has increased by 16.92%.
Diving into Analyst Ratings: An In-Depth Exploration
A clear picture of Pure Storage's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| David Vogt | UBS | Raises | Sell | $47.00 | $44.00 |
| John Difucci | Guggenheim | Maintains | Buy | $72.00 | $72.00 |
| Mehdi Hosseini | Susquehanna | Raises | Positive | $80.00 | $75.00 |
| Mike Cikos | Needham | Maintains | Buy | $80.00 | $80.00 |
| Meta Marshall | Morgan Stanley | Maintains | Equal-Weight | $60.00 | $60.00 |
| Mike Cikos | Needham | Maintains | Buy | $80.00 | $80.00 |
| Asiya Merchant | Citigroup | Raises | Buy | $75.00 | $65.00 |
| Eric Martinuzzi | Lake Street | Raises | Buy | $70.00 | $48.00 |
| Tim Long | Barclays | Raises | Equal-Weight | $56.00 | $51.00 |
| Pinjalim Bora | JP Morgan | Raises | Overweight | $75.00 | $50.00 |
| Krish Sankar | TD Cowen | Raises | Buy | $80.00 | $60.00 |
| Nehal Chokshi | Northland Capital Markets | Raises | Market Perform | $68.00 | $58.00 |
| Aaron Rakers | Wells Fargo | Raises | Overweight | $75.00 | $70.00 |
| Simon Leopold | Raymond James | Raises | Outperform | $73.00 | $63.00 |
| Wamsi Mohan | B of A Securities | Raises | Neutral | $68.00 | $57.00 |
| Amit Daryanani | Evercore ISI Group | Raises | Outperform | $75.00 | $65.00 |
| Matt Bryson | Wedbush | Raises | Outperform | $80.00 | $70.00 |
| Matthew Sheerin | Stifel | Raises | Hold | $65.00 | $46.00 |
| Mehdi Hosseini | Susquehanna | Raises | Positive | $75.00 | $65.00 |
| Thomas Blakey | Keybanc | Raises | Overweight | $79.00 | $64.00 |
| Mike Cikos | Needham | Raises | Buy | $80.00 | $66.00 |
| Matt Bryson | Wedbush | Raises | Outperform | $70.00 | $50.00 |
| Meta Marshall | Morgan Stanley | Raises | Overweight | $60.00 | $48.00 |
| 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 | - |
Key Insights:
- Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to Pure Storage. This information provides a snapshot of how analysts perceive the current state of the company.
- Rating: Providing a comprehensive analysis, analysts offer qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect 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.
Considering these analyst evaluations in conjunction with other financial indicators can offer a comprehensive understanding of Pure Storage's market position. Stay informed and make well-informed decisions with our Ratings Table.
Stay up to date on Pure Storage analyst ratings.
Discovering Pure Storage: A Closer Look
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.
Financial Insights: Pure Storage
Market Capitalization Analysis: The company's market capitalization is below the industry average, suggesting that it is relatively smaller compared to peers. This could be due to various factors, including perceived growth potential or operational scale.
Revenue Growth: Over the 3 months period, Pure Storage showcased positive performance, achieving a revenue growth rate of 17.68% as of 30 April, 2024. This reflects a substantial increase in the company's top-line earnings. As compared to its peers, the company achieved a growth rate higher than the average among peers in Information Technology sector.
Net Margin: Pure Storage's net margin excels beyond industry benchmarks, reaching -5.05%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): Pure Storage's ROE is below industry standards, pointing towards difficulties in efficiently utilizing equity capital. With an ROE of -2.65%, the company may encounter challenges in delivering satisfactory returns for shareholders.
Return on Assets (ROA): Pure Storage's ROA is below industry standards, pointing towards difficulties in efficiently utilizing assets. With an ROA of -0.96%, the company may encounter challenges in delivering satisfactory returns from its assets.
Debt Management: Pure Storage's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 0.2.
Analyst Ratings: What Are They?
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
Beyond their standard evaluations, some analysts contribute predictions for metrics like growth estimates, earnings, and revenue, furnishing investors with additional guidance. Users of analyst ratings should be mindful that this specialized advice is shaped by human perspectives and may be subject to variability.
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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