On 2/29/24, Pure Storage Inc (NYSE: PSTG) stock enjoyed a major increase of 25.0%, closing at $52.65. Moreover, this advance was accompanied by exceptionally high trading volume at 265% of normal. The stock has risen 34.2% during the last week and has been strong relative to the market over the last nine months.
Current PriceTarget Research Rating
PSTG’s future returns on capital are forecasted to be above 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 (Low 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 16 but a good Power Rating of 74, triggering the Low Neutral Value Trend Rating.
Rating Review
In light of this very positive 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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