Shares of Pure Storage, Inc. (NYSE:PSTG) have been given an average recommendation of “Buy” by the twenty-seven research firms that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating, eight have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $15.89.

Several equities analysts recently weighed in on the stock. BidaskClub upgraded shares of Pure Storage from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Pacific Crest reiterated an “overweight” rating and set a $17.00 target price on shares of Pure Storage in a research report on Friday, June 16th. Wells Fargo & Company reiterated a “market perform” rating on shares of Pure Storage in a research report on Friday, June 16th. ValuEngine upgraded shares of Pure Storage from a “sell” rating to a “hold” rating in a research report on Friday, June 16th. Finally, Vetr upgraded shares of Pure Storage from a “buy” rating to a “strong-buy” rating and set a $15.00 target price for the company in a research report on Tuesday, May 30th.

Shares of Pure Storage (NYSE PSTG) opened at 12.78 on Tuesday. The company’s market cap is $2.67 billion. The company’s 50-day moving average price is $13.04 and its 200 day moving average price is $11.62. Pure Storage has a one year low of $9.12 and a one year high of $15.14.

Pure Storage (NYSE:PSTG) last posted its earnings results on Wednesday, May 24th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.22) by $0.08. Pure Storage had a negative net margin of 31.62% and a negative return on equity of 44.04%. The firm had revenue of $182.60 million during the quarter, compared to analyst estimates of $176.13 million. During the same quarter in the prior year, the business posted ($0.22) EPS. The business’s revenue was up 30.5% compared to the same quarter last year. Equities analysts forecast that Pure Storage will post ($0.27) EPS for the current fiscal year.

In other news, CFO Timothy Riitters sold 5,000 shares of Pure Storage stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $13.12, for a total value of $65,600.00. Following the completion of the transaction, the chief financial officer now owns 245,703 shares of the company’s stock, valued at approximately $3,223,623.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Michelangelo Volpi sold 19,086 shares of Pure Storage stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $13.00, for a total value of $248,118.00. The disclosure for this sale can be found here. Insiders have sold 2,312,246 shares of company stock valued at $30,410,081 in the last three months. Insiders own 41.47% of the company’s stock.

Several institutional investors have recently bought and sold shares of PSTG. First Trust Advisors LP acquired a new position in shares of Pure Storage during the first quarter worth $135,000. Point72 Asia Hong Kong Ltd raised its position in shares of Pure Storage by 34.7% in the first quarter. Point72 Asia Hong Kong Ltd now owns 13,815 shares of the technology company’s stock worth $136,000 after buying an additional 3,557 shares during the period. Ladenburg Thalmann Financial Services Inc. raised its position in shares of Pure Storage by 88.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 12,170 shares of the technology company’s stock worth $138,000 after buying an additional 5,720 shares during the period. BNP Paribas Arbitrage SA raised its position in shares of Pure Storage by 641.5% in the second quarter. BNP Paribas Arbitrage SA now owns 11,649 shares of the technology company’s stock worth $149,000 after buying an additional 10,078 shares during the period. Finally, American National Insurance Co. TX acquired a new position in shares of Pure Storage during the first quarter worth $150,000. 34.45% of the stock is owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION WARNING: This news story was reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this news story on another publication, it was copied illegally and reposted in violation of United States and international trademark & copyright legislation. The legal version of this news story can be viewed at https://www.thecerbatgem.com/2017/08/09/analysts-set-pure-storage-inc-pstg-price-target-at-15-89-updated-updated-updated.html.

About Pure Storage

Pure Storage, Inc provides a data platform. The Company is focused on delivering software-defined all-flash solutions that are fast and cloud-capable for customers, enabling customers to put data to work for their businesses. Its data platform replaces storage systems designed for mechanical disk with all-flash systems optimized end-to-end for solid-state memory.

Analyst Recommendations for Pure Storage (NYSE:PSTG)

Receive News & Stock Ratings for Pure Storage Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pure Storage Inc. and related stocks with our FREE daily email newsletter.