According to a report by Stock Target Advisor, Pure Storage, Inc. (PSTG:NYE) has been given a “Strong Buy” rating by 21 ratings firms that cover the stock. Of those, three analysts have rated Pure Storage stock as a hold, while nine have given it a buy rating and one has given it a strong buy rating. Analysts who have updated their coverage on the stock in the past year have an average one-year price target of $36.16.
Pure Storage Stock-Analyst Ratings:
Recently, several equities research analysts have given their views on the company. On March 2nd, JPMorgan Chase & Co. dropped its target price for Pure Storage from $40.00 to $35.00 and set an “overweight” rating for the company in a research report.
Susquehanna raised its price target for Pure Storage from $40.00 to $44.00 in a research note on December 1st.
Raymond James increased its price target on Pure Storage from $40.00 to $43.00 and gave the stock a “strong-buy” rating in a research note on March 2nd.
Wedbush also raised its price target for Pure Storage to $36.00 in a report on December 2nd.
However, Barclays lowered its target price on Pure Storage from $42.00 to $37.00 and set an “overweight” rating for the company in a research note on March 2nd.
Insider Transactions & Institutional Holdings:
In other news, Director Andrew William Fraser Brown and CRO Dan Fitzsimons recently sold some of their shares in Pure Storage.
Meanwhile, a number of large institutional investors have also made changes to their positions in PSTG. Parkside Financial Bank & Trust bought a new position in shares of Pure Storage during the first quarter, while Ellevest Inc. increased its stake in the company by 50.4% during the third quarter.
Pure Storage Stock Analysis:
Pure Storage stock opened at $24.12 on Friday, with a 50-day simple moving average of $27.63 and a 200-day simple moving average of $28.40. The company has a market capitalization of $7.30 billion, a PE ratio of 114.86, a price-to-earnings-growth ratio of 13.37, and a beta of 1.26.
The company reported $0.27 earnings per share for the quarter on March 1st, beating analysts’ consensus estimates of $0.10 by $0.17. The company had revenue of $810.21 million during the quarter, compared to analysts’ expectations of $811.30 million.
Pure Storage had a net margin of 2.65% and a return on equity of 17.48%. Equities analysts anticipate that Pure Storage will post 0.19 earnings per share for the current fiscal year.
Pure Storage, Inc. provides data storage technologies, products, and services in the United States and internationally. The company’s Purity software is shared across its products and provides enterprise-class data services, such as data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object.
The company sells its products and subscription services through a direct sales force and channel partners. The company was formerly known as OS76, Inc. and changed its name to Pure Storage, Inc. in January 2010. Pure Storage, Inc. was incorporated in 2009 and is headquartered in Mountain View, California.