Analysts who follow Pure Storage Inc (PSTG) on average expect it to rise 5.69% over the next twelve months. Those same analysts give the stock an average rating of Strong Buy.
That average rating earns the stock an Analyst Ranking of 63, which means it ranks higher than 63 of stocks, based on data compiled by InvestorsObserver.
Wall Street analysts are rating PSTG a Strong Buy today. Find out what this means to you and get the rest of the rankings on PSTG!
Why are Analyst Ratings Important?
Analysts know the inner workings of the companies they follow better than anyone but the companies’ management. You can learn a lot about a company from studying the financial statements, but analysts ask questions on conference calls and understand the intricacies of each of the businesses they cover. Analysts understand how bad weather in one part of the world can disrupt supply chains, or disrupt shopping patterns. This lets traders make decisions **before** a quarterly report that could be worse than expected.
InvestorsObserver aggregates the ratings of all the analysts covering a given stock, takes the average of those ratings and then percentile ranks the averages. That provides a level of granularity that is significantly better than just the three levels provided by traditional buy/hold/sell ratings.
What's Happening With Pure Storage Inc Stock Today?
Pure Storage Inc (PSTG) stock is trading at $32.97 as of 11:46 AM on Tuesday, Dec 7, an increase of $1.41, or 4.45% from the previous closing price of $31.57. The stock has traded between $32.35 and $33.60 so far today. Volume today is light. So far 2,167,345 shares have traded compared to average volume of 4,046,181 shares.
Click Here to get the full Stock Report for Pure Storage Inc stock.