Pure Storage, Inc. (NYSE:PSTG) Given Average Recommendation of “Buy” by Analysts

Pure Storage, Inc. (NYSE:PSTG) has been given a consensus rating of “Buy” by the twenty-one research firms that are covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $28.47.

PSTG has been the subject of a number of research analyst reports. Susquehanna reaffirmed a “buy” rating and issued a $33.00 target price on shares of Pure Storage in a research note on Thursday, August 26th. Raymond James boosted their price target on shares of Pure Storage from $30.00 to $31.00 and gave the stock a “strong-buy” rating in a research report on Thursday, May 27th. Credit Suisse Group boosted their price target on shares of Pure Storage from $21.00 to $23.00 and gave the stock a “neutral” rating in a research report on Thursday, August 26th. Morgan Stanley boosted their price target on shares of Pure Storage from $22.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 26th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Pure Storage from $27.00 to $29.00 and gave the stock a “buy” rating in a research report on Thursday, August 26th.

Shares of PSTG stock traded down $0.39 on Monday, hitting $25.88. The stock had a trading volume of 3,481,753 shares, compared to its average volume of 4,604,324. Pure Storage has a twelve month low of $13.91 and a twelve month high of $29.53. The firm has a market cap of $7.33 billion, a P/E ratio of -27.49 and a beta of 1.42. The company has a current ratio of 2.66, a quick ratio of 2.59 and a debt-to-equity ratio of 1.07. The company has a fifty day moving average price of $21.77 and a two-hundred day moving average price of $20.70.

Pure Storage (NYSE:PSTG) last announced its quarterly earnings results on Tuesday, August 24th. The technology company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.09. Pure Storage had a negative net margin of 14.04% and a negative return on equity of 21.92%. The company had revenue of $496.80 million during the quarter, compared to analyst estimates of $471.56 million. During the same quarter in the previous year, the business earned $0.06 EPS. The firm’s revenue was up 23.1% on a year-over-year basis. On average, analysts expect that Pure Storage will post -0.48 earnings per share for the current year.

In other Pure Storage news, Director Anita M. Sands sold 74,157 shares of Pure Storage stock in a transaction on Friday, September 10th. The stock was sold at an average price of $26.79, for a total value of $1,986,666.03. Following the completion of the transaction, the director now directly owns 100,976 shares of the company’s stock, valued at approximately $2,705,147.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.80% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of PSTG. Dimensional Fund Advisors LP grew its position in Pure Storage by 5.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,211,043 shares of the technology company’s stock worth $27,384,000 after acquiring an additional 66,048 shares during the last quarter. Janney Montgomery Scott LLC grew its position in Pure Storage by 21.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 17,956 shares of the technology company’s stock worth $387,000 after acquiring an additional 3,197 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new stake in Pure Storage during the 1st quarter worth $126,000. US Bancorp DE grew its position in Pure Storage by 31.1% during the 1st quarter. US Bancorp DE now owns 34,703 shares of the technology company’s stock worth $748,000 after acquiring an additional 8,225 shares during the last quarter. Finally, IFP Advisors Inc grew its position in Pure Storage by 82.3% during the 1st quarter. IFP Advisors Inc now owns 1,568 shares of the technology company’s stock worth $34,000 after acquiring an additional 708 shares during the last quarter. 82.16% of the stock is owned by institutional investors.

Pure Storage Company Profile

Pure Storage, Inc engages in the provision of flash-based storage solutions. Its technology replaces storage systems designed for mechanical disk with all-flash systems optimized end-to-end for solid-state memory. The company was founded by John Hayes and John Colgrove in October 2009 and is headquartered in Mountain View, CA.

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Analyst Recommendations for Pure Storage (NYSE:PSTG)

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