PSTG - Pure Storage: Cash Heavy But Future Uncertain I'm Neutral (Downgrade)
2024-07-02 10:27:49 ET
Summary
- Pure Storage, Inc.'s revenue growth rates indicate a 13% compound annual growth rate.
- Also, Pure Storage boasts a robust cash position and impressive profitability.
- And yet, with a valuation of approximately 33x forward non-GAAP operating profits, the stock appears pricey.
Investment Thesis
Pure Storage, Inc. ( PSTG ) has a lot going for it. Indeed, I've been bullish on this stock for some time....
Pure Storage: Cash Heavy, But Future Uncertain, I'm Neutral (Downgrade)