Pure Storage, Inc. (NYSE: PSTG) has received a consensus “buy” recommendation from the twenty-one research firms that currently cover the stock, MarketBeat reports. Three equity research analysts rated the stock with a hold rating, fifteen issued a buy rating and one issued a strong buy rating on the company. The average 1-year price target among brokerages that have reported on the stock in the past year is $33.26.
Several research analysts recently commented on the title. Telsey Advisory Group raised its price target on Pure Storage shares from $30.00 to $36.00 and gave the stock an “outperform” rating in a Wednesday, Nov. 24, report. Northland Securities raised its price target on Pure Storage shares from $36.00 to $40.00 and gave the stock an “outperform” rating in a Wednesday, Nov. 24, report. Raymond James raised his price target on Pure Storage shares from $35.00 to $38.00 and gave the stock a “Strong Buy” rating in a Monday, January 10 report. Susquehanna reiterated a “buy” rating and set a target price of $40.00 on Pure Storage shares in a Thursday, Dec. 30 report. Finally, Wedbush raised its price target on Pure Storage shares from $25.00 to $33.00 and gave the stock a “neutral” rating in a Wednesday, November 24 report.
In other news, Director Tomb of Gregory sold 29,311 shares of the company in a transaction that took place on Thursday, December 2. The shares were sold at an average price of $31.45, for a total value of $921,830.95. The transaction was disclosed in an SEC filing, which is available via this hyperlink. Also, CFO P. Kevan Krysler sold 26,444 shares of the company in a transaction that took place on Thursday, December 9. The shares were sold at an average price of $32.80, for a total transaction of $867,363.20. Disclosure of this sale can be found here. Company insiders hold 6.80% of the company’s stock.
A number of large investors have been buying and selling stocks recently. First Republic Investment Management Inc. increased its position in Pure Storage by 1.4% during the third quarter. First Republic Investment Management Inc. now owns 30,676 shares of the technology company worth $772,000 after buying 412 additional shares during the period. The Wisconsin State Board of Investment increased its stake in Pure Storage by 1.7% during the second quarter. The Wisconsin State Investment Board now owns 31,838 shares of the tech company worth $622,000 after buying 540 more shares in the last quarter. The State Board of Administration of Florida Retirement System increased its stake in Pure Storage by 0.3% during Q3. The Florida Retirement System State Board of Directors now owns 248,055 shares of the technology company worth $6,241,000 after buying 755 additional shares in the last quarter. Berman Capital Advisors LLC increased its stake in Pure Storage by 91.0% during the 3rd quarter. Berman Capital Advisors LLC now owns 1,662 shares of the technology company worth $41,000 after buying 792 additional shares in the last quarter. Finally, Synovus Financial Corp increased its stake in Pure Storage by 1.9% during the 3rd quarter. Synovus Financial Corp now owns 43,388 shares of the technology company worth $1,087,000 after buying 818 more shares in the last quarter. Institutional investors and hedge funds hold 80.54% of the company’s shares.
NYSE:PSTG shares opened at $27.59 on Friday. Pure Storage has a 52-week minimum of $16.79 and a 52-week maximum of $35.09. The company has a debt ratio of 1.07, a quick ratio of 2.41 and a current ratio of 2.47. The company has a market capitalization of $8.00 billion, a PE ratio of -36.79 and a beta of 1.35. The company has a 50-day moving average price of $30.78 and a two-hundred-day moving average price of $25.88.
Pure Storage Inc (NYSE:PSTG) last reported earnings on Tuesday, November 23. The technology company reported EPS of $0.22 for the quarter, beating Thomson Reuters consensus estimate of $0.12 by $0.10. Pure Storage had a negative net margin of 10.66% and a negative return on equity of 15.40%. The company posted revenue of $562.74 million in the quarter, versus a consensus estimate of $530.66 million. In the same quarter of the previous year, the company made earnings per share ($0.22). The company’s quarterly revenue increased 37.1% year over year. On average, sell-side analysts expect Pure Storage to post -0.34 earnings per share for the current year.
Pure Storage Company Profile
Pure Storage, Inc is committed to providing flash storage solutions. Its technology replaces storage systems designed for mechanical drives 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 based in Mountain View, California.
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