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.
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.
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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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.
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.
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.
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