Pure Storage Inc (NYSE: PSTG) has reported earnings for its third fiscal quarter (ending October 31) of $0.22 versus $0.00 for the same period a year ago. For the latest four quarters through October 31, E.P.S. were $0.24 versus $0.05 for the same period a year ago — an increase of 380%.
Recent Price Action
On 11/29/23, Pure Storage Inc (NYSE: PSTG) stock enjoyed a very large increase of 5.7%, closing at $37.93. Moreover, this advance was accompanied by exceptionally high trading volume at 367% of normal. Relative to the market the stock has been exceptionally strong over the last nine months and has risen 2.2% 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 B (Positive). This rating combines very contradictory signals from two proprietary PTR measures of a stock’s attractiveness. Pure Storage has a slightly negative Appreciation Score of 33 but a very high Power Rating of 99, with the Positive Value Trend Rating the result.
Rating Review
In light of this new information and positive market action we are reviewing our current Overall Rating of B. This review will be completed in the next several days.
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