In the past three months, eight analysts have released ratings for Pure Storage (PSTG), providing a range of perspectives from bullish to bearish. The table below summarizes their recent ratings and compares them to previous months:
Bullish: 2
Somewhat Bullish: 6
Indifferent: 0
Somewhat Bearish: 0
Bearish: 0
Last 30 Days: 0
1 Month Ago: 0
2 Months Ago: 0
3 Months Ago: 2
These ratings indicate a mix of positive and neutral sentiments towards Pure Storage. Analysts have also established 12-month price targets, with an average target of $42.62, a high estimate of $51.00, and a low estimate of $38.00. The current average target is 2.02% lower than the prior average target of $43.50, suggesting a downward trend.
Taking a closer look at analyst actions, we can see that Thomas Blakey from Keybanc has raised the overweight rating multiple times, with the latest price target at $51.00. Simon Leopold from Raymond James has lowered the strong buy rating, while other analysts have also lowered their ratings and price targets.
Understanding analyst ratings can provide valuable insights into the market standing of Pure Storage. Analysts update their recommendations in response to market conditions and company performance. Their ratings, ranging from outperform to underperform, reflect their expectations for the relative performance of Pure Storage compared to the broader market. Price targets provide estimates for the company’s future value, and comparing current and prior targets can reveal analysts’ evolving expectations.
Pure Storage is a US-based company that offers an enterprise data storage platform, aiming to increase performance and reduce complexity and costs for businesses. The company generates revenue from product sales and subscription services, including professional services offerings.
Analyzing Pure Storage’s economic impact, we can observe a reduced market capitalization compared to industry averages, which presents unique challenges. However, the company has shown positive revenue growth, exceeding industry peers in the information technology sector. Pure Storage also boasts exceptional net margin, return on equity, return on assets, and adopts a prudent approach to debt management.
Analyst ratings are determined through research, including attending company conference calls and meetings, analyzing financial statements, and communicating with insiders. These ratings are typically updated quarterly or when the company has a major update. Analysts also provide predictions for metrics such as earnings, revenue, and growth estimates to guide investors.
Overall, understanding analyst ratings and financial indicators can help investors stay informed and make strategic decisions regarding Pure Storage.
