Stock Rating Downgrade
The Value Trend Rating for Pure Storage Inc (NYSE: PSTG) weakened during the last several trading days from B to C reflecting eroding fundamentals and low Appreciation Potential. Details supporting this lower rating are included in our next report.
Recent Price Action
Pure Storage Inc (NYSE: PSTG) stock closed at $56.68 on 8/9/24 after a large increase of 2.6%. However, below average trading volume at 73% of normal accompanied the advance. The stock is unchanged 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). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing very contradictory signals. Pure Storage has a poor Appreciation Score of 21 but a very high Power Rating of 99, leading to the High Neutral Value Trend Rating.
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