Can Pure Storage, Inc. (PSTG)’s Tomorrow be Different? The Stock Just Broke Its High

June 13, 2018 - By Richard Conner

Pure Storage, Inc. (NYSE:PSTG) Logo

The stock of Pure Storage, Inc. (NYSE:PSTG) hit a new 52-week high and has $25.77 target or 3.00 % above today’s $25.02 share price. The 9 months bullish chart indicates low risk for the $5.78B company. The 1-year high was reported on Jun, 13 by Barchart.com. If the $25.77 price target is reached, the company will be worth $173.31 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

It closed at $25.02 lastly. It is down 75.47% since June 13, 2017 and is uptrending. It has outperformed by 62.90% the S&P500.

Analysts await Pure Storage, Inc. (NYSE:PSTG) to report earnings on August, 23. They expect $-0.26 EPS, up 10.34 % or $0.03 from last year’s $-0.29 per share. After $-0.28 actual EPS reported by Pure Storage, Inc. for the previous quarter, Wall Street now forecasts -7.14 % EPS growth.

Pure Storage, Inc. engages in building a data platform that enables businesses to enhance performance and reduce complexity and costs worldwide. The company has market cap of $5.78 billion. The firm delivers its data platform through Purity Operating Environment, an optimized software for solid-state memory that offers enterprise-class storage and protocol services; FlashArray and FlashBlade optimized hardware products for solid-state memory to enhance the performance and density of flash, optimize its advanced software services, and reduce solution cost for customers; Pure1, a cloud management and support software; and FlashStack, a converged infrastructure solution. It currently has negative earnings. The Company’s data platform is used for a range of storage use cases, including database applications, large-scale analytics, private and public cloud infrastructure, Webscale applications, virtual server infrastructure, and virtual desktop infrastructure; and helps clients scale their businesses through real-time and accurate analytics, increase employee productivity, improve operational efficiency, and deliver compelling user experiences to their clients and partners.

Pure Storage, Inc. (NYSE:PSTG) Ratings Chart

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