Stock Rating Downgrade
Reflecting eroding fundamentals and low Appreciation Potential, the Value Trend Rating for Pure Storage Inc (NYSE: PSTG) weakened in recent days. 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
Pure Storage Inc (NYSE: PSTG) stock declined by -2.5% on 1/5/24. The shares closed at $35.89. Moreover, trading volume in this decline was above average at 133% of normal. The stock has been exceptionally strong relative to the market over the last nine months and has risen 0.9% during the last week.
Current PriceTarget Research Rating
With future capital returns forecasted to be above the cost of capital, PSTG 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 slightly negative Appreciation Score of 36 but a very high Power Rating of 91, leading to the High Neutral Value Trend Rating.
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