Pure Storage Inc (PSTG) Given Consensus Rating of “Buy” by Analysts
Pure Storage Inc (NYSE:PSTG) has been assigned a consensus recommendation of “Buy” from the twenty-five research firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen 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 covered the stock in the last year is $18.74.
Several equities research analysts have weighed in on PSTG shares. Robert W. Baird set a $14.00 price target on shares of Pure Storage and gave the company a “hold” rating in a research report on Monday, August 14th. Maxim Group cut shares of Pure Storage from a “buy” rating to a “hold” rating and dropped their price target for the company from $20.00 to $15.00 in a research report on Monday, August 14th. BidaskClub raised shares of Pure Storage from a “sell” rating to a “hold” rating in a research report on Thursday, August 24th. Summit Redstone raised shares of Pure Storage from a “hold” rating to a “buy” rating in a research report on Friday, August 25th. Finally, KeyCorp increased their price target on shares of Pure Storage from $17.00 to $18.00 and gave the company an “overweight” rating in a research report on Friday, August 25th.
In related news, President David Hatfield sold 30,000 shares of Pure Storage stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $14.66, for a total transaction of $439,800.00. Following the completion of the transaction, the president now directly owns 215,190 shares of the company’s stock, valued at approximately $3,154,685.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Scott Dietzen sold 200,000 shares of Pure Storage stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $17.22, for a total transaction of $3,444,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 512,028 shares of company stock valued at $8,675,835. Corporate insiders own 46.58% of the company’s stock.
Shares of Pure Storage (PSTG) traded up $0.25 on Friday, reaching $17.23. 1,841,700 shares of the company’s stock traded hands, compared to its average volume of 1,771,757. Pure Storage has a fifty-two week low of $9.12 and a fifty-two week high of $19.27.
Pure Storage (NYSE:PSTG) last announced its quarterly earnings results on Tuesday, November 28th. The technology company reported ($0.01) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.02. The business had revenue of $277.70 million during the quarter, compared to analysts’ expectations of $272.07 million. Pure Storage had a negative net margin of 22.86% and a negative return on equity of 44.86%. The firm’s revenue for the quarter was up 41.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.10) EPS. equities research analysts expect that Pure Storage will post -0.93 earnings per share for the current fiscal year.
Pure Storage Company Profile
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.
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