Stock Rating Downgrade
Reflecting eroding fundamentals and low Appreciation Potential, the Value Trend Rating for Pure Storage Inc (NYSE: PSTG) weakened recently. PSTG’s current Value Trend Rating is C and the prior Rating was B. Details supporting this lower rating are included in our next report.
Recent Price Action
On 8/1/24, Pure Storage Inc (NYSE: PSTG) stock suffered a large decline of -5.2%, closing at $56.82. However, below average trading volume at 76% of normal accompanied the decline. The stock has declined -2.6% during the last week but has been exceptionally strong relative to the market over the last nine months.
Current PriceTarget Research Rating
PSTG’s future returns on capital are forecasted to exceed the cost of capital. Accordingly, the company is expected to continue to be a major Value Builder.
Pure Storage has a current Value Trend Rating of C (High Neutral). This rating combines very contradictory signals from two proprietary PTR measures of a stock’s attractiveness. Pure Storage has a poor Appreciation Score of 22 but a very high Power Rating of 100, leading to the High Neutral Value Trend Rating.
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