The Analyst Verdict: Pure Storage In The Eyes Of 24 Experts
Portfolio Pulse from Benzinga Insights
Pure Storage (NYSE:PSTG) has received mixed ratings from 24 analysts over the past three months, with a notable increase in bullish sentiment. The average 12-month price target has risen to $69.75, up 19.66% from the previous $58.29. Analysts have frequently updated their recommendations, reflecting evolving market conditions and company performance. Despite some financial challenges, such as a -12.2% revenue decline and below-average ROE and ROA, Pure Storage maintains a strong net margin and prudent debt management.
June 12, 2024 | 2:01 pm
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POSITIVE IMPACT
Pure Storage has received a mix of bullish and somewhat bullish ratings from analysts, with the average 12-month price target rising to $69.75. Despite financial challenges like a -12.2% revenue decline, the company shows strong net margin and prudent debt management.
The increase in the average price target and the predominance of bullish ratings suggest a positive short-term outlook for Pure Storage. However, financial challenges such as revenue decline and below-average ROE and ROA may temper this optimism.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100