Pure Storage Inc (NYSE: PSTG) has reported earnings for its fourth fiscal quarter (ending January 31) of $0.21 versus $0.25 for the same period a year ago — a decline of -16%. This result fell short of the consensus estimate of $0.44 by $-0.23. E.P.S. were $0.20 for the latest four quarters through January 31 versus $0.24 for the same period a year ago — a decline of -17%.
Recent Price Action
Pure Storage Inc (NYSE: PSTG) stock increased 1.5% on 2/28/24. The shares closed at $42.12. Moreover, this advance was accompanied by above average trading volume at 142% of normal. The stock has been strong relative to the market over the last nine months and has risen 3.2% 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 (Low 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 22 but a good Power Rating of 74, triggering the Low Neutral Value Trend Rating.
Rating Review
In light of this new information we are reviewing our current Overall Rating of C. This review will be completed in the next several days.
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