Pure Storage Inc (NYSE: PSTG) stock suffered a major decline of -15.8% on 8/29/24. The shares closed at $50.32. Moreover, this decline was accompanied by exceptionally high trading volume at 422% of normal. The stock has declined -19.2% 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, with the High Neutral Value Trend Rating the result.
Rating Review
In light of this highly negative price change we are reviewing our current Overall Rating of C. This review will be completed in the next several days.
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