14 analysts have expressed a variety of opinions on Pure Storage PSTG over the past quarter, offering a diverse set of opinions from bullish to bearish.
The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 5 | 4 | 4 | 0 | 1 |
| Last 30D | 1 | 0 | 0 | 0 | 0 |
| 1M Ago | 0 | 0 | 0 | 0 | 0 |
| 2M Ago | 4 | 4 | 4 | 0 | 1 |
| 3M Ago | 0 | 0 | 0 | 0 | 0 |
Analysts have recently evaluated Pure Storage and provided 12-month price targets. The average target is $67.14, accompanied by a high estimate of $93.00 and a low estimate of $45.00. This current average has decreased by 5.64% from the previous average price target of $71.15.
Analyzing Analyst Ratings: A Detailed Breakdown
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 |
|---|---|---|---|---|---|
| Howard Ma | Guggenheim | Raises | Buy | $93.00 | $72.00 |
| Eric Martinuzzi | Lake Street | Lowers | Buy | $68.00 | $70.00 |
| Nehal Chokshi | Northland Capital Markets | Lowers | Market Perform | $59.00 | $68.00 |
| Krish Sankar | TD Cowen | Lowers | Buy | $70.00 | $80.00 |
| Asiya Merchant | Citigroup | Lowers | Buy | $67.00 | $75.00 |
| Matthew Sheerin | Stifel | Lowers | Hold | $60.00 | $65.00 |
| James Fish | Piper Sandler | Lowers | Neutral | $56.00 | $60.00 |
| Amit Daryanani | Evercore ISI Group | Lowers | Outperform | $70.00 | $75.00 |
| Simon Leopold | Raymond James | Lowers | Outperform | $70.00 | $73.00 |
| David Vogt | UBS | Lowers | Sell | $45.00 | $47.00 |
| Mike Cikos | Needham | Lowers | Buy | $62.00 | $80.00 |
| Matt Bryson | Wedbush | Maintains | Outperform | $80.00 | $80.00 |
| Mehdi Hosseini | Susquehanna | Maintains | Positive | $80.00 | $80.00 |
| James Fish | Piper Sandler | Announces | Neutral | $60.00 | - |
Key Insights:
- Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Pure Storage. This information offers a snapshot of how analysts perceive the current state of the company.
- Rating: Delving into assessments, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings communicate expectations for the relative performance of Pure Storage compared to the broader market.
- Price Targets: Analysts provide insights into price targets, offering estimates for the future value of Pure Storage's stock. This comparison reveals trends 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.
Get to Know Pure Storage Better
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.
A Deep Dive into Pure Storage's Financials
Market Capitalization: With restricted market capitalization, the company is positioned below industry averages. This reflects a smaller scale relative to peers.
Revenue Growth: Over the 3 months period, Pure Storage showcased positive performance, achieving a revenue growth rate of 10.91% as of 31 July, 2024. This reflects a substantial increase in the company's top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Information Technology sector.
Net Margin: Pure Storage's net margin surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 4.67% net margin, the company effectively manages costs and achieves strong profitability.
Return on Equity (ROE): Pure Storage's ROE is below industry standards, pointing towards difficulties in efficiently utilizing equity capital. With an ROE of 2.52%, the company may encounter challenges in delivering satisfactory returns for shareholders.
Return on Assets (ROA): Pure Storage's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 0.96% ROA, the company effectively utilizes its assets for optimal returns.
Debt Management: With a below-average debt-to-equity ratio of 0.19, Pure Storage adopts a prudent financial strategy, indicating a balanced approach to debt management.
The Core of Analyst Ratings: What Every Investor Should Know
Analyst ratings serve as essential indicators of stock performance, provided by experts in banking and financial systems. These specialists diligently analyze company financial statements, participate in conference calls, and engage with insiders to generate quarterly ratings for individual stocks.
Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.
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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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