Pure Storage Inc (NYSE: PSTG) stock closed at $33.31 on 11/30/23 after a major decline of -12.2%. Moreover, exceptionally high trading volume at 721% of normal accompanied the decline. The stock has been exceptionally strong relative to the market over the last nine months but has declined -8.9% during the last week.
Current PriceTarget Research Rating
Reflecting future returns on capital that are forecasted to exceed the cost of capital, PSTG is expected to continue to be a major Value Builder.
Pure Storage has a current Value Trend Rating of B (Positive). 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 34 but a very high Power Rating of 99, resulting in the Positive Value Trend Rating.
Rating Review
In light of this highly negative price change we are reviewing our current Overall Rating of B. This review will be completed in the next several days.
Be the first to comment