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How to Buy Pure Storage Stock

Pure Storage Inc

Pure Storage is a computer hardware company located in California, United States, which is part of the Technology sector, and is traded under the ticker PSTG on the NYSE exchange.

Pure Storage stock last closed at $34.25, down 0.09% from the previous day, and has increased 20.73% in one year. It has overperformed other stocks in the Computer Hardware industry by 0.02 percentage points. Pure Storage stock is currently +54.7% from its 52-week low of $22.14, and -3.3% from its 52-week high of $35.42.

There are currently 308.05M PSTG shares outstanding. The market cap of PSTG is $10.55B. In the past 24 hours, 11.46M PSTG shares were traded.

How to Buy Pure Storage Stock

Not sure how to invest in Pure Storage stock? Here's how.
  1. Figure out where to buy Pure Storage stock: You need to pick a stock brokerage, but don't worry - we've sifted through dozens of online brokerages and apps to help you choose where to buy Pure Storage stock.
  2. Sign up for your brokerage account: Sign up for 0% fee trading with the highest-rated brokerage we've identified.
  3. Deposit money your brokerage account: Select your payment method and add your information.
  4. Research Pure Storage stock: The Pure Storage ticker symbol is PSTG. Is Pure Storage stock a good investment? Should you buy shares of PSTG? How do PSTG's underlying business fundamentals look? Do top analysts think Pure Storage is a good buy? Why has PSTG's stock price moved recently? (Hint: Our stock analysis website can help you decide if PSTG is a good stock to buy).
  5. Make your PSTG buy order: Decide if you will purchase PSTG shares at the current market price or use a limit order to purchase PSTG shares at a particular price.
  6. Keep tabs on your investment in PSTG: Create a watchlist to watch your investment in Pure Storage shares.

Step 1: Figure out where to buy Pure Storage stock

You need an online brokerage account in order to access the NYSE market and buy PSTG shares.

A brokerage account is an investment account that enables you to buy and sell a variety of investments, including stocks, bonds, mutual funds, and ETFs.

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Step 2: Sign up for your brokerage account

Now that you've picked the right brokerage, you'll need to fill out some personal information so you can buy PSTG today.

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  2. Enter your personal details to open a new trading account.
  1. Submit your application by pressing the "Create Account" button.
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Step 3: Deposit money your brokerage account

Now that you have opened your account on stock market apps, you can securely and quickly fund your account:

Check out the walkthrough below if you need help depositing money into your new investment account.

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Step 4: Research Pure Storage stock

Once you have chosen the best place to buy Pure Storage stock, it's very important to evaluate their stock before you buy, so you actually comprehend the risk as well as the upside.

Overview of key PSTG info

PSTG Price
$34.25
1w %
24.27%
1y %
20.73%
5y %
49.43%
P/E
142.71x
P/B
11.21x
P/S
3.73x
PEG
N/A
Revenue
$2.75B
Earnings
$73.07M
Fore. Rev. Growth
11.38%
Fore. Earn. Growth
N/A
Market Cap
$10.55B
Next Earnings
N/A
Next Dividend
N/A

Pure Storage Overview

WallStreetZen was built to help part-time investors perform more in-depth fundamental analysis.

You can see all of the due diligence checks on PSTG's stock page.

What is the fair value of PSTG stock?

Investors use a variety of different financial metrics, analyses, models, and charts to gauge PSTG's true value.

Using relative valuations measures:

  • PSTG may be overvalued based on its P/E ratio of 142.71x, relative to Computer Hardware industry P/E ratio of 16.86x
  • PSTG may be overvalued based on its P/B ratio of 11.21x, relative to Computer Hardware industry P/B ratio of 8.29x

You can access additional valuation analysis on PSTG's stock here.

Is PSTG a healthy company?

Signs that PSTG is financially healthy:

  • PSTG's operating cash flow of $767.23M allows it to safely service it's debt of $750.69M.
  • PSTG earnings of $91.81M is not sufficient to cover its interest payments.
  • PSTG profit margin has gone up from -6.6% to 2.7% in the past year.
  • There are more short-term assets than short-term liabilities on the PSTG balance sheet.
  • There are more short-term assets than long-term liabilities on the PSTG balance sheet.

Signs that PSTG is not financially healthy:

  • PSTG has a relatively high debt to equity ratio of 2.77.
  • Total PSTG debt is higher than 5 years ago, relative to shareholder equity.

Do Wall Street analysts think it's a good time to buy PSTG stock

Out of 12 sell side analysts who research PSTG, the consensus analyst rating on Pure Storage is a Strong Buy

It's important to note that analyst forecasts are not stock recommendations, nor are they financial advice.

Latest PSTG Analyst Upgrades/Downgrades

Shannon Cross, a top 21% analyst from Credit Suisse maintains PSTG with a buy rating and raises their PSTG price target from $40.00 to $42.00, on Jun 2, 2023.

Sidney Ho, a top 1% analyst from Deutsche Bank maintains PSTG with a strong buy rating and raises their PSTG price target from $32.00 to $36.00, on Jun 1, 2023.

Maintaining his Strong Buy rating, Ho raised his price target on Pure Storage, Inc. by 12.5% following the release of the company's Q1 2024 earnings report on 2023/05/31.

"The company's strong 1H makes management's FY guidance more achievable," the analyst argued.

For Q1 2024, Pure Storage reported:

  • EPS of $0.08, which beat the Zacks Consensus Estimate by 100% but missed, by 68%, Q1 2023's $0.25.
  • Revenue of $589.3M, which beat the Zacks Consensus Estimate by 5.1% and Q1 2023's $560.4M by 5.% "when excluding the impact of $60 million of first quarter fiscal 2023 product revenue that was contemplated in the second half of last year."
  • Subscription services revenue of $280.3M, up 28% Y/Y.
  • Subscription annual recurring revenue (ARR) of $1.2B, up 29% Y/Y.
  • Remaining performance obligations (RPOs) of $1.8B, up 26% Y/Y.
  • Gross margin of 72.2%.
  • Operating income of $19.6M.
  • Operating margin of 3.3%.
  • Free cash flow of $121.8M.
  • Repurchased 2.9M shares at a cost of $70M.
  • Repaid $575M of outstanding convertible senior notes.

Management guided:

For Q2 2024:

  • Revenue of $680M.
  • Operating income of $90M.
  • Operating margin of 13%.

For FY 2024:

  • Revenue of "mid to high single digit Y/Y growth."
  • Operating margin of 15%.

Chairman & CEO Charles Giancarlo commented: "We are the clear leader in data storage, now delivering a portfolio that can address the vast majority of storage needs for all enterprises.

"The superior economics, performance, and operational and environmental efficiencies of Pure's product portfolio over both hard disk and SSD-based, all-flash competitive offerings are now undeniable."

Eric Martinuzzi, a bottom 12% analyst from Lake Street maintains PSTG with a strong buy rating and raises their PSTG price target from $32.00 to $34.00, on Jun 1, 2023.

Matt Bryson, a top 4% analyst from Wedbush maintains PSTG with a buy rating and raises their PSTG price target from $34.00 to $39.00, on Jun 1, 2023.

Simon Leopold, a bottom 8% analyst from Raymond James maintains PSTG with a strong buy rating and raises their PSTG price target from $40.00 to $41.00, on Jun 1, 2023.

You can dig deeper into what analysts are saying on the Pure Storage stock forecast page.

Metrics for Advanced PSTG Traders

SMA10
27.83
SMA20
25.61
SMA50
24.85
SMA100
26.12
SMA200
27.51
MACD
2.04
MACD Signal
0.9
MACD Histogram
1.14
RSI
84.77
Stochastic %K
89.7
Stochastic %D
91.61
StochRSI %K
94.8
StochRSI %D
94.93

Is PSTG Growing Revenue?

Last year, PSTG revenue was $2.75B. Over the past five year, PSTG's revenue has gone up by 20.18% per year. This was faster than the Computer Hardware industry average of 19.13%.

You can analyze PSTG's earnings and revenue performance here.

Latest Insiders Trades at PSTG

Over the past year, executives and large shareholders at PSTG have sold more shares than they have bought.

Roxanne Taylor, Director of PSTG, was the latest PSTG insider to sell. They sold $499,581.56 worth of PSTG stock on Apr 13, 2023.

Dig into more about who owns PSTG shares here.

Does PSTG provide a stable income stream?

No, Pure Storage doesn't provide an income stream by paying out dividends.

Get analysis from other traders

One of the primary reasons eToro is our top-rated brokerage is because of its social trading community.

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Step 5: Make your PSTG buy order

There are two primary options:

  • Market order: A market order is an order to buy or sell a stock at the best possible price.
    Market orders are usually fine.
  • Limit order: A limit order is an order to buy or sell a stock at a specific price (or better).
    If you want to make sure you're buying or selling at a specific price, place a limit order.

Press the Open Trade button and eToro will place the order.

If you want more info about investing in stocks on eToro, click the how to video below:

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Step 6: Keep tabs on your investment in PSTG

Now that you own some PSTG shares, you'll want to keep up with your shares.

Create a watchlist to get notified of the latest news about your PSTG stock.

PSTG Feed

How to Buy Stock in Pure Storage

To reiterate, here are the 6 steps for buying Pure Storage stock:

  1. Figure out where to buy Pure Storage stock
  2. Sign up for your brokerage account
  3. Deposit money your brokerage account
  4. Research Pure Storage stock
  5. Make your PSTG buy order
  6. Keep tabs on your investment in PSTG

If you require a online brokerage, eToro is our favorite venue.

Get Started with eToro Today

If you would like to get updates on your new investment in Pure Storage, add PSTG to your watchlist by clicking the button below.

NYSE: PSTG
$34.25-0.03 (-0.09%)
Updated Jun 2, 2023
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NYSE: PSTG
$34.25-0.03 (-0.09%)
Updated Jun 2, 2023
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FAQ

How much does it cost to buy one Pure Storage share?

As of Jun 2, 2023, it costs $34.25 to buy one share of Pure Storage stock.

Remember, eToro's fractional share buying allows you to buy partial shares of stocks and ETFs. Even if you only have $10, you can buy 0.292 shares of PSTG.

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Is now a good time to buy Pure Storage stock?

According to 12 Wall Street analysts who monitor Pure Storage, their consensus recommendation is to buy Pure Storage stock.

What is the best way to buy Pure Storage stock?

One way to place an order for Pure Storage stock is with a brokerage account.
WallStreetZen does not provide financial advice and does not issue recommendations or offers to buy stock or sell any security.

Information is provided 'as-is' and solely for informational purposes and is not advice. WallStreetZen does not bear any responsibility for any losses or damage that may occur as a result of reliance on this data.