Pure Storage (NYSE:PSTG) has been analyzed by 10 analysts in the last three months, revealing a diverse range of perspectives from bullish to bearish.
Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 3 | 3 | 3 | 0 | 1 |
| Last 30D | 1 | 2 | 3 | 0 | 1 |
| 1M Ago | 1 | 1 | 0 | 0 | 0 |
| 2M Ago | 1 | 0 | 0 | 0 | 0 |
| 3M Ago | 0 | 0 | 0 | 0 | 0 |
The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $68.8, a high estimate of $93.00, and a low estimate of $47.00. This upward trend is evident, with the current average reflecting a 13.2% increase from the previous average price target of $60.78.
Decoding Analyst Ratings: A Detailed Look
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.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| David Vogt | UBS | Raises | Sell | $47.00 | $45.00 |
| Amit Daryanani | Evercore ISI Group | Raises | Outperform | $75.00 | $70.00 |
| James Fish | Piper Sandler | Raises | Overweight | $76.00 | $56.00 |
| Matthew Sheerin | Stifel | Raises | Hold | $65.00 | $60.00 |
| Nehal Chokshi | Northland Capital Markets | Raises | Market Perform | $63.00 | $59.00 |
| Mike Cikos | Needham | Raises | Buy | $75.00 | $62.00 |
| Tim Long | Barclays | Raises | Equal-Weight | $61.00 | $56.00 |
| Asiya Merchant | Citigroup | Lowers | Buy | $63.00 | $67.00 |
| Param Singh | Oppenheimer | Announces | Outperform | $70.00 | - |
| Howard Ma | Guggenheim | Raises | Buy | $93.00 | $72.00 |
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: Analyzing trends, analysts offer qualitative evaluations, ranging from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Pure Storage compared to the broader market.
- Price Targets: Understanding forecasts, analysts offer estimates for Pure Storage's future value. Examining the current and prior targets provides insight into analysts' changing expectations.
For valuable insights into Pure Storage's market performance, consider these analyst evaluations alongside crucial financial indicators. Stay well-informed and make prudent decisions using our Ratings Table.
Stay up to date on Pure Storage analyst ratings.
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.
Understanding the Numbers: Pure Storage's Finances
Market Capitalization Analysis: The company exhibits a lower market capitalization profile, positioning itself below industry averages. This suggests a smaller scale relative to peers.
Positive Revenue Trend: Examining Pure Storage's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 10.91% as of 31 July, 2024, showcasing a substantial increase in 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 financial strength is reflected in its exceptional ROE, which exceeds industry averages. With a remarkable ROE of 2.52%, the company showcases efficient use of equity capital and strong financial health.
Return on Assets (ROA): Pure Storage's ROA excels beyond industry benchmarks, reaching 0.96%. This signifies efficient management of assets and strong financial health.
Debt Management: Pure Storage's debt-to-equity ratio is below the industry average. With a ratio of 0.19, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
Understanding the Relevance of Analyst Ratings
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.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in Benzinga Pro.
Which Stocks Are Analysts Recommending Now?
Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. Click here to stay ahead of the market.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
