Pure Storage Inc (NYSE:PSTG) traded up 1.3% during mid-day trading on Thursday . The stock traded as high as $21.91 and last traded at $21.99. 2,341,006 shares were traded during mid-day trading, a decline of 1% from the average session volume of 2,364,456 shares. The stock had previously closed at $21.71.
Several equities research analysts recently issued reports on the company. Vetr downgraded Pure Storage from a “strong-buy” rating to a “buy” rating and set a $23.17 price objective on the stock. in a report on Wednesday. Goldman Sachs Group assumed coverage on Pure Storage in a report on Wednesday, February 7th. They issued a “sell” rating and a $16.00 price objective on the stock. ValuEngine upgraded Pure Storage from a “sell” rating to a “hold” rating in a report on Friday, February 2nd. Barclays upgraded Pure Storage from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $19.00 to $22.00 in a report on Wednesday, January 17th. Finally, KeyCorp reiterated a “buy” rating and issued a $24.00 price objective on shares of Pure Storage in a report on Wednesday, November 29th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the stock. Pure Storage presently has a consensus rating of “Buy” and a consensus price target of $19.18.
Pure Storage (NYSE:PSTG) last issued its quarterly earnings results on Tuesday, November 28th. The technology company reported ($0.01) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.02. The company had revenue of $277.70 million for the quarter, compared to the consensus estimate of $272.07 million. Pure Storage had a negative return on equity of 44.96% and a negative net margin of 22.86%. Pure Storage’s revenue was up 41.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.10) EPS. equities research analysts predict that Pure Storage Inc will post -0.93 earnings per share for the current fiscal year.
Large investors have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. boosted its position in shares of Pure Storage by 38.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 8,171 shares of the technology company’s stock worth $105,000 after acquiring an additional 2,284 shares in the last quarter. Fortaleza Asset Management Inc. acquired a new position in shares of Pure Storage during the 4th quarter worth about $154,000. Ardsley Advisory Partners acquired a new position in shares of Pure Storage during the 4th quarter worth about $159,000. SG Americas Securities LLC acquired a new position in shares of Pure Storage during the 4th quarter worth about $162,000. Finally, Great West Life Assurance Co. Can boosted its position in shares of Pure Storage by 151.3% during the 3rd quarter. Great West Life Assurance Co. Can now owns 11,310 shares of the technology company’s stock worth $180,000 after acquiring an additional 6,810 shares in the last quarter. 39.56% of the stock is owned by institutional investors and hedge funds.
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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