ValuEngine upgraded shares of Pure Storage (NYSE:PSTG) from a sell rating to a hold rating in a research report released on Friday.
Several other equities analysts have also issued reports on the stock. Vetr upgraded shares of Pure Storage from a buy rating to a strong-buy rating and set a $23.17 target price on the stock in a report on Thursday. Barclays upgraded shares of Pure Storage from an equal weight rating to an overweight rating and boosted their target price for the company from $19.00 to $22.00 in a report on Wednesday, January 17th. KeyCorp restated a buy rating and issued a $24.00 target price on shares of Pure Storage in a report on Wednesday, November 29th. Robert W. Baird restated a hold rating and issued a $20.00 target price on shares of Pure Storage in a report on Wednesday, November 29th. Finally, Oppenheimer restated a buy rating and issued a $21.00 target price on shares of Pure Storage in a report on Wednesday, November 29th. Eight analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $19.08.
Shares of Pure Storage (NYSE:PSTG) opened at $19.78 on Friday. Pure Storage has a one year low of $9.12 and a one year high of $21.23.
Pure Storage (NYSE:PSTG) last issued its quarterly earnings data on Tuesday, November 28th. The technology company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.02. Pure Storage had a negative net margin of 22.86% and a negative return on equity of 44.96%. The company had revenue of $277.70 million for the quarter, compared to analysts’ expectations of $272.07 million. During the same quarter in the previous year, the firm posted ($0.10) earnings per share. Pure Storage’s revenue for the quarter was up 41.0% on a year-over-year basis. research analysts anticipate that Pure Storage will post -0.93 earnings per share for the current fiscal year.
In other news, insider John Colgrove sold 2,167 shares of the company’s stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $16.50, for a total transaction of $35,755.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Timothy Riitters sold 11,749 shares of the company’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $16.74, for a total transaction of $196,678.26. The disclosure for this sale can be found here. Insiders have sold 877,362 shares of company stock worth $15,556,864 in the last quarter. Company insiders own 41.47% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Fortaleza Asset Management Inc. acquired a new position in shares of Pure Storage during the fourth quarter valued at about $154,000. Picton Mahoney Asset Management acquired a new stake in shares of Pure Storage in the 4th quarter worth about $7,131,000. TCI Wealth Advisors Inc. acquired a new stake in shares of Pure Storage in the 4th quarter worth about $1,114,000. Engineers Gate Manager LP raised its holdings in shares of Pure Storage by 8.1% in the 4th quarter. Engineers Gate Manager LP now owns 231,151 shares of the technology company’s stock worth $3,666,000 after acquiring an additional 17,406 shares during the last quarter. Finally, Pembroke Management LTD acquired a new stake in shares of Pure Storage in the 4th quarter worth about $9,758,000. Hedge funds and other institutional investors own 37.57% of the company’s stock.
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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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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