Forecasting The Future: 8 Analyst Projections For Pure Storage

In the preceding three months, 8 analysts have released ratings for Pure Storage PSTG, presenting a wide array of perspectives from bullish to bearish.

The following table provides a quick overview of their recent ratings, highlighting the changing sentiments over the past 30 days and comparing them to the preceding months.

Providing deeper insights, analysts have established 12-month price targets, indicating an average target of $42.62, along with a high estimate of $51.00 and a low estimate of $38.00. Observing a downward trend, the current average is 2.02% lower than the prior average price target of $43.50.

Exploring Analyst Ratings: An In-Depth Overview

The standing of Pure Storage among financial experts becomes clear with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.

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: Offering insights into predictions, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Pure Storage compared to the broader market.
• Price Targets: Analysts navigate through adjustments in price targets, providing estimates for Pure Storage's future value. Comparing current and prior targets offers insights into analysts' evolving expectations.

Capture valuable insights into Pure Storage's market standing by understanding these analyst evaluations alongside pertinent financial indicators. Stay informed and make strategic decisions with our Ratings Table.

Stay up to date on Pure Storage analyst ratings.

Unveiling the Story Behind Pure Storage

Pure Storage Inc is a US-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's Economic Impact: An Analysis

Market Capitalization: Indicating a reduced size compared to industry averages, the company's market capitalization poses unique challenges.

Positive Revenue Trend: Examining Pure Storage's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 12.84% as of 31 October, 2023, showcasing a substantial increase in top-line earnings. In comparison to its industry peers, the company stands out with a growth rate higher 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 9.23%, the company showcases strong profitability and effective cost management.

Return on Equity (ROE): Pure Storage's ROE surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 6.59% ROE, the company effectively utilizes shareholder equity capital.

Return on Assets (ROA): Pure Storage's ROA stands out, surpassing industry averages. With an impressive ROA of 2.17%, the company demonstrates effective utilization of assets and strong financial performance.

Debt Management: With a below-average debt-to-equity ratio of 0.24, Pure Storage adopts a prudent financial strategy, indicating a balanced approach to debt management.

How Are Analyst Ratings Determined?

Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.

Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.

Some analysts also offer predictions for helpful metrics such as earnings, revenue, and growth estimates to provide further guidance as to what to do with certain tickers. It is important to keep in mind that while stock and sector analysts are specialists, they are also human and can only forecast their beliefs to traders.

This article was generated by Benzinga's automated content engine and reviewed by an editor.