Pure Storage (NYSE: PSTG) recently received a number of ratings updates from brokerages and research firms:

  • 8/1/2017 – Pure Storage was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 7/27/2017 – Pure Storage was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 7/25/2017 – Pure Storage was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 7/19/2017 – Pure Storage was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 7/5/2017 – Pure Storage was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 6/27/2017 – Pure Storage was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 6/16/2017 – Pure Storage had its “overweight” rating reaffirmed by analysts at Pacific Crest. They now have a $17.00 price target on the stock.
  • 6/16/2017 – Pure Storage had its “market perform” rating reaffirmed by analysts at Wells Fargo & Company.
  • 6/16/2017 – Pure Storage was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 6/14/2017 – Pure Storage had its “hold” rating reaffirmed by analysts at Robert W. Baird. They now have a $14.00 price target on the stock. They wrote, “We attended Pure//Accelerate, the company’s annual user and partner conference, in San Francisco yesterday where Pure announced a swath of new software features for its growing storage platform. Management’s address to investors highlighted the company’s runway in a $35 billion+ TAM, and the potential for growth in Cloud, and Next-Gen Data applications.””
  • 6/14/2017 – Pure Storage had its “positive” rating reaffirmed by analysts at Susquehanna Bancshares Inc. They now have a $16.00 price target on the stock.
  • 6/14/2017 – Pure Storage had its “equal weight” rating reaffirmed by analysts at Morgan Stanley. They now have a $13.00 price target on the stock, up previously from $12.00.
  • 6/14/2017 – Pure Storage had its “buy” rating reaffirmed by analysts at BMO Capital Markets. They wrote, “We believe MX represents an investment opportunity as a differentiated display and foundry vendor benefitting from improving customer momentum. We hosted management meetings with investors and have increasing confidence in the company’s growth potential and opportunity to improve profitability . We believe recent restructuring efforts remain on track and can drive steadily improving profitability in the coming quarters.””
  • 6/14/2017 – Pure Storage was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating. They now have a $15.50 price target on the stock.
  • 6/10/2017 – Pure Storage was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.

Pure Storage, Inc. (PSTG) opened at 12.85 on Tuesday. The firm has a 50 day moving average of $13.06 and a 200 day moving average of $11.60. The firm’s market capitalization is $2.68 billion. Pure Storage, Inc. has a 12-month low of $9.12 and a 12-month high of $15.14.

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

In other news, Director Michelangelo Volpi sold 1,425,000 shares of the firm’s stock in a transaction on Friday, June 16th. The stock was sold at an average price of $13.15, for a total transaction of $18,738,750.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Timothy Riitters sold 5,000 shares of the firm’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $13.12, for a total value of $65,600.00. Following the sale, the chief financial officer now directly owns 245,703 shares of the company’s stock, valued at $3,223,623.36. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,312,246 shares of company stock valued at $30,410,081. Insiders own 41.47% of the company’s stock.

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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