When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important?Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let's see what these Wall Street heavyweights think about Pure Storage (PSTG) .Pure Storage currently has an average brokerage recommendation (ABR) of 1. ...

Pure Storage, Inc. PSTG shares are trading lower on Wednesday. Oppenheimer analyst Param Singh initiated coverage on the company with an Outperform rating and a price target of $70.The analyst’s bullish stance is due to the company’s position as a key beneficiary of the growing demand for unstructured data used in AI applications.Singh says that the data storage market is shifting towards all-flash arrays (AFA), expected to grow at an 8.5% CAGR from 2023 to 2028, reaching $17 billion.Pure Storage is well-po ...

SANTA CLARA, Calif., Nov. 12, 2024 /PRNewswire/ -- Pure Storage® (NYSE: PSTG), the IT pioneer that delivers the world's most advanced data storage technology and services, today announced it will host a conference call on Tuesday, December 3 at 2:00 p.m. PT to discuss its financial results for the third quarter fiscal year 2025 ended November 3, 2024. This conference call will be held following the release of Pure Storage's financial results.Third Quarter Fiscal 2025 Conference Call DetailsA live audio broa ...

Pure Storage (PSTG) ended the recent trading session at $53.93, demonstrating a -0.26% swing from the preceding day's closing price. This move lagged the S&P 500's daily gain of 0.74%.Shares of the data storage company witnessed a gain of 1.71% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 3.99% and the S&P 500's gain of 3.16%.The investment community will be closely monitoring the performance of Pure Storage in its forthcoming earnings report. The ...

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The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price. Do they really matter, though?Let's take a look at what these Wall Street heavyweights have to say about Pure Storage (PSTG) before we discuss the reliability of brokerage recommendations and how to use them to your advantage.Pure Storage currently has an ...

The most recent trading session ended with Pure Storage (PSTG) standing at $52.38, reflecting a -1.19% shift from the previouse trading day's closing. The stock's performance was behind the S&P 500's daily loss of 0.92%. Elsewhere, the Dow saw a downswing of 0.96%, while the tech-heavy Nasdaq depreciated by 1.6%.Coming into today, shares of the data storage company had gained 6.42% in the past month. In that same time, the Computer and Technology sector gained 3.64%, while the S&P 500 gained 2.68%.The inves ...

Pure Storage (PSTG) ended the recent trading session at $53.42, demonstrating a +1.58% swing from the preceding day's closing price. The stock outpaced the S&P 500's daily gain of 0.47%. Meanwhile, the Dow experienced a rise of 0.79%, and the technology-dominated Nasdaq saw an increase of 0.28%. Heading into today, shares of the data storage company had gained 5.6% over the past month, outpacing the Computer and Technology sector's gain of 3.88% and the S&P 500's gain of 3.48% in that time. The investment c ...

Core Insights - Pure Storage Inc (PSTG) shares increased by 3.08% on October 2, reaching an intraday high of $50.60 before closing at $50.27, which is 28.60% below its 52-week high of $70.41 and 62.16% above its 52-week low of $31.00 [1] - The average one-year price target for PSTG, based on 18 analysts, is $64.56, indicating a potential upside of 28.43% from the current price [2] - The consensus recommendation from 21 brokerage firms gives PSTG an average rating of 2.2, suggesting an "Outperform" status [2] Stock Performance - PSTG's trading volume was 701,362 shares, which is 21.9% of its average daily volume of 3,203,105 [1] - The stock's current price of $50.27 is significantly above its 52-week low of $31.00, reflecting a strong recovery [1] Analyst Projections - The high estimate for PSTG's price target is $80.00, while the low estimate is $45.00 [2] - GuruFocus estimates the fair value (GF Value) for PSTG at $41.79, suggesting a downside of 16.87% from the current price [2]

Core Viewpoint - Pure Storage, Inc. (PSTG) has shown strong stock performance with a year-to-date gain of 38.7%, outperforming its sub-industry and major indices, although it has recently lowered its outlook for total contract value (TCV) sales, leading to a decline in stock value [1][10][17]. Group 1: Financial Performance - PSTG's stock closed at $49.44, down 30% from its 52-week high of $70.41 reached on June 18, 2024, and is currently trading below its 50-day moving average, indicating a bearish trend [2]. - Subscription services revenues increased by 25% year-over-year to $361.2 million, accounting for 47.3% of total revenues in the last reported quarter [4]. - The company reported cash, cash equivalents, and marketable securities of $1.8 billion as of August 4, 2024, with cash flow from operations amounting to $226.6 million, up from $101.6 million in the prior year [8]. Group 2: Product Demand and Innovations - Strong demand for FlashBlade solutions, including FlashArray//E and subscription-based offerings, is driving PSTG's top line [3]. - The introduction of Evergreen//One, a storage-as-a-service solution designed for AI workloads, is expected to enhance market opportunities for the company [5]. - Enhancements to Pure Fusion, which automates storage management, aim to improve efficiency and agility for enterprise customers [6]. Group 3: Customer Base and Market Position - In the second quarter of fiscal 2025, PSTG added over 261 new customers, bringing the total customer count to more than 13,000, including 62% of Fortune 500 companies [7]. - The company is experiencing extended closing deadlines for larger Evergreen//One deals, which has led to a downward revision in TCV sales outlook [11]. Group 4: Outlook and Valuation - PSTG has lowered its guidance for TCV sales from $600 million to $500 million, reflecting a growth expectation of 25% year-over-year instead of the previously anticipated 50% [10]. - Analysts have revised earnings estimates downward for the current and next quarters by 2.3% and 6%, respectively, while the estimate for the current year has been revised upward by 1.2% to $1.66 [14]. - The stock is trading at a forward Price/Earnings ratio of 27.12X, significantly higher than the industry average of 15.01X, indicating a premium valuation amid uncertain near-term prospects [15].