Of 20 brokerages covering Pure Storage, 16 have a Buy or Strong Buy rating and the other four rate the shares at Hold. At a share price of around $24.40, the potential upside based on a median price target of $39.00 is 59.8%. At the high price target of $48.00, the upside potential is nearly 97%.

Pure Storage is expected to report first-quarter 2023 revenue of $521.81 million, down 26.4% sequentially and up 26.4% year over year. Adjusted EPS of $0.05 are forecast to fall 87% sequentially and rise from a year-ago break-even quarter to $0.05 per share. For the full year, current estimates call for EPS of $0.87, up 30.3%, and sales of $2.59 billion, up 19%.

The stock trades at 28.1 times expected 2023 EPS, 21.9 times estimated 2024 earnings of $1.11 and 18.9 times estimated 2025 earnings of $1.29 per share The 52-week trading range is $17.40 to $36.71, and Pure Storage does not pay a dividend. Total shareholder return for the past year is 27.7%.

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UiPath

UiPath Inc. (NYSE: PATH) makes and sells a business process automation platform. Over the past 12 months, shares have plunged by 79% on a steady downward trajectory that may be slowing a bit. The company has been hit hard by the sell-off in growth stocks, and shares took another hit in March, when the company guided first-quarter revenue below expectations. A new co-CEO came on board in April, adding to the uncertainty surrounding the company.

Of 22 analysts covering the stock, 14 have a Buy or Strong Buy rating, with seven more rating the shares at Hold. At a recent price of around $17.70 a share, the upside potential based on a median price target of $32.00 is 44.6%. At the high price target of $57.50, the upside potential stretches to 165.5%.

UiPath is expected to report first-quarter 2023 revenue of $225.37 million, down 22.2% sequentially and 21.0% higher year over year. Analysts are forecasting an adjusted loss per share of $0.06, compared to prior quarter EPS of $0.05 and year-ago EPS of $0.02. For the full year, current estimates call for a per-share loss of $0.02, down from year-ago EPS of $0.08, and sales of $1.08 billion, up 21.4%.

The stock trades at 241.3 times estimated 2024 earnings of $0.07 and 106.4 times estimated 2025 earnings of $0.17 per share. Its 52-week range is $13.66 to $83.11. UiPath does not pay a dividend, and the total shareholder return for the past year is negative 78.8%.