Ratings for Pure Storage PSTG were provided by 24 analysts in the past three months, showcasing a mix of bullish and bearish perspectives.
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 | 7 | 11 | 6 | 0 | 0 |
| Last 30D | 0 | 0 | 1 | 0 | 0 |
| 1M Ago | 5 | 9 | 5 | 0 | 0 |
| 2M Ago | 0 | 1 | 0 | 0 | 0 |
| 3M Ago | 2 | 1 | 0 | 0 | 0 |
Insights from analysts' 12-month price targets are revealed, presenting an average target of $69.75, a high estimate of $80.00, and a low estimate of $51.00. Observing a 19.66% increase, the current average has risen from the previous average price target of $58.29.
Deciphering Analyst Ratings: An In-Depth Analysis
The perception of Pure Storage by financial experts is analyzed through recent analyst actions. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Meta Marshall | Morgan Stanley | Announces | Equal-Weight | $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 | - |
| Asiya Merchant | Citigroup | Announces | Buy | $65.00 | - |
Key Insights:
- Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Pure Storage. This information provides a snapshot of how analysts perceive the current state of the company.
- Rating: Gaining insights, analysts provide 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: 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.
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.
Delving into Pure Storage's Background
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.
Key Indicators: Pure Storage's Financial Health
Market Capitalization Analysis: Falling below industry benchmarks, the company's market capitalization reflects a reduced size compared to peers. This positioning may be influenced by factors such as growth expectations or operational capacity.
Negative Revenue Trend: Examining Pure Storage's financials over 3 months reveals challenges. As of 30 April, 2024, the company experienced a decline of approximately -12.2% in revenue growth, reflecting a decrease in top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower 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 falls below industry averages, indicating challenges in efficiently utilizing assets. With an ROA of -0.96%, the company may face hurdles in generating optimal returns from its assets.
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.
Analyst Ratings: Simplified
Within the domain of banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their work involves attending company conference calls and meetings, researching company financial statements, and communicating with insiders to publish "analyst ratings" for stocks. Analysts typically assess and rate each stock once per quarter.
In addition to their assessments, some analysts extend their insights by offering predictions for key metrics such as earnings, revenue, and growth estimates. This supplementary information provides further guidance for traders. It is crucial to recognize that, despite their specialization, analysts are human and can only provide forecasts based on their beliefs.
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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