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 $51.80, up 2.55% from the previous day, and has increased 125.71% in one year. It has underperformed other stocks in the Computer Hardware industry by 0.11 percentage points. Pure Storage stock is currently +133.97% from its 52-week low of $22.14, and -11.39% from its 52-week high of $58.46.
There are currently 324.91M PSTG shares outstanding. The market cap of PSTG is $16.83B. In the past 24 hours, 2.07M PSTG shares were traded.
How to Buy Pure Storage Stock
Not sure how to invest in Pure Storage stock? Here's how.
- 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.
- Sign up for your brokerage account: Sign up for 0% fee trading with the highest-rated brokerage we've identified.
- Deposit money your brokerage account: Select your payment method and add your information.
- 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).
- 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.
- 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.
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Open eToro AccountStep 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.
How to Open a New Brokerage Account on eToro
- Click here to get started.eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
- Enter your personal details to open a new trading account.
- Submit your application by pressing the "Create Account" button. Get started with eToro today
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.
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
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 259x, relative to Computer Hardware industry P/E ratio of 38.21x
- PSTG may be overvalued based on its P/B ratio of 13.25x, relative to Computer Hardware industry P/B ratio of 13.19x
- PSTG could be overvalued based on its PEG ratio of 4.3x
You can access additional valuation research on PSTG's stock here.
PSTG Financial Health Summary
Signs that PSTG is financially healthy:
- PSTG's operating cash flow of $677.72M allows it to safely service it's debt of $267.87M.
- PSTG earnings of $90.59M is not sufficient to cover its interest payments.
- There are more short-term assets than long-term liabilities on the PSTG balance sheet.
- There are more short-term assets than short-term liabilities on the PSTG balance sheet.
Signs that PSTG is not financially healthy:
- PSTG has a relatively high debt to equity ratio of 1.88.
- Total PSTG debt is higher than 5 years ago, relative to shareholder equity.
- PSTG profit margin has gone down from 2.5% to 2.2% in the past year.
Do Wall Street analysts think it's a good time to buy Pure Storage stock
Out of 13 sell side analysts who give forecasts on PSTG, the consensus analyst rating on Pure Storage is a Strong Buy
Please note that analyst forecasts are not recommendations, nor are they investment advice.
Most Recent PSTG Analyst Ratings
Matthew Sheerin, a top 15% analyst from Stifel Nicolaus maintains PSTG with a hold rating and raises their PSTG price target from $41.00 to $46.00, on Feb 29, 2024.
Meta Marshall, a top 6% analyst from Morgan Stanley maintains PSTG with a strong buy rating and raises their PSTG price target from $43.00 to $48.00, on Feb 29, 2024.
Morgan Stanley's Meta Marshall raised their price target on Pure Storage (NYSE: PSTG) by 11.6% from $43 to $48 on 2024/02/29. The analyst maintained their Strong Buy rating on the stock.
Quarterly results were marginally better than anticipated, while management's guidance was "not as bad as feared," Marshall highlighted following an assessment of Pure Storage's Q4 and FY 2024 print released on 2024/02/28.
The analyst predicted the company's stock price would "move closer to its bull case as AI gains traction."
Marshall continued by noting that they attribute their optimistic view on Pure Storage to "encouraging" signals of macro improvement and some large-scale wins and traction with cloud customers.
Earnings Report
Pure Storage reported:
For Q4 2024:
- EPS of $0.50, which beat the Zacks Consensus Estimate of $0.45 but missed, by 5.7%, Q4 2023’s $0.53.
- Revenue of $789.81M, which beat the Zacks Consensus Estimate by 0.97% but missed, by 3%, Q4 2023’s $810.21M.
- Operating income of $157.8M.
- Operating margin of 20%.
For FY 2024:
- Revenue of $2.8B, up 3% Y/Y.
- Operating income of $458.4M.
- Operating margin of 16.2%.
Management guided:
For Q1 2025:
- Revenue of $680M.
- Revenue growth of 15.4%.
- Operating income of $68M.
- Operating margin of 10%.
For FY 2025:
- Revenue $3.1B.
- Revenue growth of 10.5%.
- Operating income of $532M.
- Operating margin of 17%.
Chairman & CEO Charles Giancarlo commented: "Our data platform strategy is revolutionizing the storage industry.
“It helps enterprises and service providers unify fragmented data environments into a seamless, modern, and efficient system—a system performance-ready for artificial intelligence.
"And this can all be done now with Flash reliability, performance, and economics, even at hard disk system price levels.”
CFO Kevan Krysler added, "We closed FY24 delivering strong RPO growth, and exceeded our revenue and operating margin guidance in Q4.
"Looking to FY25, we expect double-digit revenue growth and strong growth of RPO, fueled by our highly differentiated data storage platform, and strength of our Evergreen and Portworx consumption and subscription offerings."
Pinjalim Bora, a top 20% analyst from JP Morgan maintains PSTG with a strong buy rating and raises their PSTG price target from $45.00 to $50.00, on Feb 29, 2024.
Wamsi Mohan, a top 6% analyst from Bank of America maintains PSTG with a hold rating and raises their PSTG price target from $42.00 to $50.00, on Feb 29, 2024.
Tim Long, a top 4% analyst from Barclays maintains PSTG with a strong buy rating and raises their PSTG price target from $42.00 to $51.00, on Feb 29, 2024.
You can dive deeper into what analysts are forecasting on the Pure Storage stock forecast page.
PSTG Technicals
Is PSTG Growing Revenue?
Last year, PSTG earnings were $61.31M. Over the last two year, PSTG's earnings have increased by 82.57% per year. This was faster than the Computer Hardware industry average of 20.7%.
Last year, PSTG revenue was $2.83B. Over the last five year, PSTG's revenue has increased by 15.79% per year. This was faster than the Computer Hardware industry average of 9.02%.
Dive into PSTG's earnings and revenue performance here.
What are PSTG executives and large shareholders up to?
Over the past year, insiders at PSTG have sold more shares than they have bought.
P. Kevan Krysler, Chief Financial Officer of PSTG, was the latest PSTG insider to sell. They sold $807,100.80 worth of PSTG stock on Apr 17, 2024.
Research more about who owns PSTG stock 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 investors
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Step 5: Make your PSTG buy order
You have two main options:
- Market order: A market order is an order to buy or sell a stock at the best price on the market.
Market orders are generally sufficient. - Limit order: A limit order enables you to buy or sell a security at a specific price (or better).
If you want to make sure you're buying or selling at a given dollar amount limit, place a limit order.
Press the Open Trade button and eToro will place your order.
If you require more info about investing in stocks on eToro, watch the how to video below:
Step 6: Keep tabs on your investment in PSTG
Now that you own some PSTG shares, you'll want to stay up-to-date on your new shares.
Start a watchlist to monitor your PSTG stock.
PSTG Feed
How to Buy Stock in Pure Storage
To summarize, here are the 6 steps to buy Pure Storage stock:
- Figure out where to buy Pure Storage stock
- Sign up for your brokerage account
- Deposit money your brokerage account
- Research Pure Storage stock
- Make your PSTG buy order
- Keep tabs on your investment in PSTG
If you require a brokerage account, eToro is our recommended venue.
Get Started with eToro TodayIf you want to get the latest news on your investment in Pure Storage, create your watchlist below.
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