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This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
Pure Storage (NYSE:PSTG) underwent analysis by 17 analysts in the last quarter, revealing a spectrum of viewpoints from bullish to bearish.
The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 3 | 10 | 4 | 0 | 0 |
| Last 30D | 1 | 1 | 0 | 0 | 0 |
| 1M Ago | 1 | 1 | 0 | 0 | 0 |
| 2M Ago | 1 | 5 | 4 | 0 | 0 |
| 3M Ago | 0 | 3 | 0 | 0 | 0 |
Analysts' evaluations of 12-month price targets offer additional insights, showcasing an average target of $52.94, with a high estimate of $66.00 and a low estimate of $41.00. Surpassing the previous average price target of $43.86, the current average has increased by 20.7%.
Exploring Analyst Ratings: An In-Depth Overview
The standing of Pure Storage among financial experts becomes clear with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Mehdi Hosseini | Susquehanna | Raises | Positive | $65.00 | $45.00 |
| Mike Cikos | Needham | Maintains | Buy | $66.00 | - |
| Asiya Merchant | Citigroup | Announces | Buy | $65.00 | - |
| Thomas Blakey | Keybanc | Raises | Overweight | $64.00 | $55.00 |
| Mike Cikos | Needham | Announces | Buy | $66.00 | - |
| Thomas Blakey | Keybanc | Raises | Overweight | $55.00 | $51.00 |
| Matthew Sheerin | Stifel | Raises | Hold | $46.00 | $41.00 |
| Meta Marshall | Morgan Stanley | Raises | Overweight | $48.00 | $43.00 |
| Pinjalim Bora | JP Morgan | Raises | Overweight | $50.00 | $45.00 |
| Wamsi Mohan | B of A Securities | Raises | Neutral | $50.00 | $42.00 |
| Tim Long | Barclays | Raises | Overweight | $51.00 | $42.00 |
| David Vogt | UBS | Raises | Neutral | $44.00 | $38.00 |
| Amit Daryanani | Evercore ISI Group | Raises | Outperform | $48.00 | $41.00 |
| Matthew Sheerin | Stifel | Maintains | Hold | $41.00 | $41.00 |
| Thomas Blakey | Keybanc | Raises | Overweight | $51.00 | $47.00 |
| Thomas Blakey | Keybanc | Raises | Overweight | $47.00 | $43.00 |
| Thomas Blakey | Keybanc | Raises | Overweight | $43.00 | $40.00 |
Key Insights:
- Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to Pure Storage. This information provides a snapshot of how analysts perceive the current state of the company.
- Rating: Gaining insights, analysts provide qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Pure Storage compared to the broader market.
- Price Targets: Delving into movements, analysts provide estimates for the future value of Pure Storage's stock. This analysis reveals shifts in analysts' expectations over time.
Considering these analyst evaluations in conjunction with other financial indicators can offer a comprehensive understanding of Pure Storage's market position. Stay informed and make well-informed decisions with our Ratings Table.
Stay up to date on Pure Storage analyst ratings.
Get to Know Pure Storage Better
Pure Storage Inc is a U.S.-based company that provides an enterprise data storage platform that transforms business through a dramatic increase in performance and reduction in complexity and costs. It generates revenue from two sources: product revenue which includes the sale of integrated storage hardware and embedded operating system software and; subscription services revenue which includes Evergreen Storage subscriptions, a unified subscription which includes Pure as-a-Service, and Cloud Block Store, and Portworx. Subscription services revenue also includes professional services offerings such as installation and implementation consulting services.
Breaking Down Pure Storage's Financial Performance
Market Capitalization Analysis: The company's market capitalization is below the industry average, suggesting that it is relatively smaller compared to peers. This could be due to various factors, including perceived growth potential or operational scale.
Revenue Growth: Pure Storage's revenue growth over a period of 3 months has faced challenges. As of 31 January, 2024, the company experienced a revenue decline of approximately -2.52%. This indicates a decrease in the company's top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Information Technology sector.
Net Margin: Pure Storage's financial strength is reflected in its exceptional net margin, which exceeds industry averages. With a remarkable net margin of 8.29%, the company showcases strong profitability and effective cost management.
Return on Equity (ROE): Pure Storage's ROE is below industry averages, indicating potential challenges in efficiently utilizing equity capital. With an ROE of 5.41%, the company may face hurdles in achieving optimal financial returns.
Return on Assets (ROA): Pure Storage's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 1.87% ROA, the company effectively utilizes its assets for optimal returns.
Debt Management: With a below-average debt-to-equity ratio of 0.21, Pure Storage adopts a prudent financial strategy, indicating a balanced approach to debt management.
The Core of Analyst Ratings: What Every Investor Should Know
Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter.
In addition to their assessments, some analysts extend their insights by offering predictions for key metrics such as earnings, revenue, and growth estimates. This supplementary information provides further guidance for traders. It is crucial to recognize that, despite their specialization, analysts are human and can only provide forecasts based on their beliefs.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
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