In the latest trading session, Pure Storage (PSTG) closed at $57.42, marking a -1.54% move from the previous day.
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Zacks.com users have recently been watching Pure Storage (PSTG) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
In the closing of the recent trading day, Pure Storage (PSTG) stood at $59.75, denoting a -1.45% change from the preceding trading day.
Pure Storage is a data storage pioneer in areas such as flash memory and Storage-as-a-Service. Secular trends like AI adoption and hybrid cloud architecture are driving the need for improved storage systems, benefiting Pure Storage's product lineup. Based on a reverse DCF valuation, the stock may still have some upside after a big move up over the last year.
The latest trading day saw Pure Storage (PSTG) settling at $65.20, representing a -0.17% change from its previous close.
Pure Storage continues to gain market share within its category of all-flash-arrays in enterprise data centers. Pure shares have risen by almost 80% in 2024 but pulled back 10% recently due to concerns about AI opportunities and competitive pressures. Pure is transitioning to a subscription model, impacting reported revenue growth but expected to accelerate reported revenue growth margins in the future.
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Pure Storage is falling after UBS published bearish coverage on the stock. UBS raised its price target for Pure Storage, but it downgraded the stock from neutral to sell.
Two cloud-based software stocks are making moves today, for two very different reasons.
Pure Storage (PSTG) reported earnings 30 days ago. What's next for the stock?