Across the recent three months, 24 analysts have shared their insights on Pure Storage PSTG, expressing a variety of opinions spanning from bullish to bearish.
The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 7 | 10 | 6 | 0 | 1 |
| Last 30D | 0 | 0 | 1 | 0 | 0 |
| 1M Ago | 0 | 0 | 0 | 0 | 0 |
| 2M Ago | 2 | 1 | 0 | 0 | 1 |
| 3M Ago | 5 | 9 | 5 | 0 | 0 |
The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $70.96, a high estimate of $80.00, and a low estimate of $47.00. This current average has increased by 16.0% from the previous average price target of $61.17.
Analyzing Analyst Ratings: A Detailed Breakdown
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 |
|---|---|---|---|---|---|
| James Fish | Piper Sandler | Announces | Neutral | $60.00 | - |
| 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 |
Key Insights:
- Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Pure Storage. This insight gives a snapshot of analysts' perspectives on 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: Gaining insights, analysts provide estimates for the future value of Pure Storage's stock. This comparison reveals trends 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.
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.
Unraveling the Financial Story of Pure Storage
Market Capitalization Analysis: The company exhibits a lower market capitalization profile, positioning itself below industry averages. This suggests a smaller scale relative to peers.
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. When compared to others in the Information Technology sector, the company excelled with a growth rate higher than the average among peers.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of -5.05%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): The company's ROE is below industry benchmarks, signaling potential difficulties in efficiently using equity capital. With an ROE of -2.65%, the company may need to address challenges in generating satisfactory returns for shareholders.
Return on Assets (ROA): The company's ROA is below industry benchmarks, signaling potential difficulties in efficiently utilizing assets. With an ROA of -0.96%, the company may need to address challenges in generating satisfactory returns from its assets.
Debt Management: Pure Storage's debt-to-equity ratio is below the industry average. With a ratio of 0.2, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
What Are Analyst Ratings?
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.
Analysts may supplement their ratings with predictions for metrics like growth estimates, earnings, and revenue, offering investors a more comprehensive outlook. However, investors should be mindful that analysts, like any human, can have subjective perspectives influencing their forecasts.
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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