Not a Single ‘Sell’ Recommendation for PureStorage in August

PureStorage stock has risen 64% in 2018

Pure Storage (PSTG) stock has returned 77% in the last 12 months, 18.9% in the last month, and 19% in the last five trading days. Pure Storage stock fell 26% in 2016 and then rose 40% in 2017. Since the start of 2018, it’s risen over 63%.

In comparison, the SPDR S&P 500 ETF (SPY) and the PowerShares QQQ Trust, Series 1 ETF (QQQ) have generated returns of 9.5% and 19%, respectively, in 2018.

Not a Single ‘Sell’ Recommendation for PureStorage in August

Analysts’ recommendations

Of the 22 analysts tracking Pure Storage, 12 have recommended “buys,” ten have recommended “holds,” and none have recommended “sells” on the stock. Analysts’ 12-month average price target for PSTG is $26.47, and their median estimate is $27. PSTG is trading at a discount of 4% to analysts’ median estimate.

Moving averages

On August 27, PSTG closed the trading day at $25.96. Based on that price, the stock was trading as follows:

  • 14.7% above its 100-day moving average of $22.64
  • 10.5% above its 50-day moving average of $23.48
  • 13% above its 20-day moving average of $23.01

MACD and RSI

PSTG’s 14-day MACD (moving average convergence divergence) is 2.94. A stock’s MACD is the difference between its short-term and long-term moving averages. PSTG’s positive MACD score indicates an upward trading trend.

PSTG has a 14-day RSI (relative strength index) score of 67, which shows that the stock is trading very close to overbought territory. An RSI score of above 70 indicates that a stock has been overbought, while an RSI score of below 30 indicates that a stock has been oversold.