Pure Storage, Inc. Class A | PSTG

Daily Technical Analysis of Pure Storage, Inc. Class A

Pure Storage is up a bit on the day, funds flowing in kept the price up 1.37% since yesterday. PSTG is near a moderate strength horizontal support line. This represents a potential pivot point where the price might find support and move upward. But it can also break through this line in which case there might be a burst of selling on the other side. The Computer Hardware company has been chopping around the last few months without a clear directional momentum. So it may move up from this point, but hard to say.

If we get a reversal off of support and Pure Storage starts moving up, it can probably get to $70.92 at which point it'll need to break through that resistance level in order to keep moving higher. There aren't very obvious support levels beneath this point. So put those stop losses on, this thing has room to fall if buyers don't come in at this level.

Analyst Ratings for Pure Storage By Price Target And Rating

The analysts are pretty neutral on Pure Storage right now, so not much useful information here. The current Analysts Sentiment Score is 5.54. Most companies range between (-200 to 200).

Here's a break down of the latest rating changes. Raymond James downgraded from Strong-Buy to Outperform on 2024-04-19 but moved up their price target to $63.00 which is a 21.15% increase. Needham & Company LLC announced that they are reiterating a rating of Buy on 2024-04-11 and they set their price target at $66.00. Susquehanna boosted their price targ by 44.44% to $65.00 on 2024-04-11. Citigroup initiated a rating of Buy on 2024-03-15 and provided a price target of $65.00. KeyCorp provided a price target boost of 7.84% to $55.00 from $51.00 on 2024-02-29. On 2024-02-29 Stifel Nicolaus increased their price target by 12.2% to $46.00. On 2024-02-29 there was confirmation of the previous rating by Wedbush which was Outperform and provided a price target of $50.00. TD Cowen gave a boost to their price target and moved to $60.00 from $42.00 on 2024-02-29. On 2024-02-29 UBS Group increased their price target by 15.79% to $44.00. On 2024-02-29 Barclays increased their price target by 21.43% to $51.00.

Earnings Per Share (EPS) Estimates By Year and Quarter

Short interest for Pure Storage

We take into account several different measures of short interest to create a composite score. These measures are shown in the chart below. Short selling is when investors are betting against a stock. We compile these factors to create a dynamic Short Score - this can indicate poor sentiment, internal problems with a company or industry and the anticipation of future price declines. We look at the short interest percent, days to cover, the rate of change and total shares sold short.

Social Sentiment for Pure Storage

Social Sentiment is an aggregation of several different factors such as news, articles, blogs, user content, ratings, etc. Which is shown in the chart below. It may become predictive of a reversal if price and the sentiment diverge. Broader market forces may push prices up or down but if market participants maintain a different view on a specific stock, it may be taken as an opportunity to buy or sell in those cases.