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PSTG’s impressive third-quarter performance drove the stock to its all-time price high last month. The company’s revenues increased 37% year-over-year to $562.70 million in its fiscal 2022 third quarter (ended October 31, 2021). This can be attributed to a 38% rise in subscription revenues. The stock has gained 37% year-to-date to hit its $32.56 all-time high on November 30. Furthermore, the stock is currently trading above its 50-day and 200-day moving averages of $27.17 and $22.56, respectively, indicating a golden-cross uptrend.
However, the company’s operating loss came in at $18.10 million in the last quarter, while net loss amounted to $28.73 million. Its loss per share stood at $0.10, and its total cost of goods sold increased 40.2% from the same period last year to $187.95 million due to the ongoing semiconductor shortage and shipping delays.
