Pure Storage Inc (NYSE:PSTG) shares traded 5.64% higher at $59.59 on Wall Street last session.
PSTG stock price is now 13.11% away from the 50-day moving average and 44.71% away from the 200-day moving average. The market capitalization of the company currently stands at $19.37B.
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With the price target enhanced from $52 to $63, Raymond James Downgraded its rating from Strong Buy to Outperform for Pure Storage Inc (NYSE: PSTG). On March 15, 2024, Citigroup recently initiated its ‘Buy’ rating on the stock quoting a target price of $65, while ‘Needham’ rates the stock as ‘Buy’
In other news, Krysler P. Kevan, Chief Financial Officer sold 15,286 shares of the company’s stock on Apr 17 ’24. The stock was sold for $807,101 at an average price of $52.80. Upon completion of the transaction, the Chief Financial Officer now directly owns 507,824 shares in the company, valued at $30.26 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Apr 16 ’24, Chief Revenue Officer FitzSimons Dan sold 29,283 shares of the business’s stock. A total of $1,526,816 was realized by selling the stock at an average price of $52.14. This leaves the insider owning 138,105 shares of the company worth $8.23 million. A total of 6.14% of the company’s stock is owned by insiders.
During the past 12 months, Pure Storage Inc has had a low of $23.25 and a high of $58.46. As of last week, the company has a debt-to-equity ratio of 0.21, a current ratio of 1.76, and a quick ratio of 1.73.
According to the Computer Hardware Company, earnings per share came in at 0.08, beating analysts’ expectations of 0.04 by 0.04. This compares to $0.22 EPS in the same period last year. The net profit margin was 2.17% and return on equity was 5.55% for PSTG. The company reported revenue of $789.8 million for the quarter, compared to $810.21 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -2.52 percent. For the current quarter, analysts expect PSTG to generate $680.91M in revenue.
