Pure Storage (PSTG) Receives $21.95 Consensus Target Price from Brokerages

Cornelia Mascio
Aprile 17, 2018

During the same period a year ago, the company earned ($0.02) earnings per share. Oppenheimer also issued estimates for Pure Storage's Q3 2019 earnings at ($0.19) EPS, Q4 2019 earnings at ($0.07) EPS, FY2019 earnings at ($0.86) EPS and FY2020 earnings at ($0.83) EPS.

Several analysts recently commented on PSTG shares.

Pure Storage (NYSE:PSTG) has earned an average recommendation of "Buy" from the twenty-five analysts that are now covering the stock, Marketbeat reports. Susquehanna Bancshares reiterated a "neutral" rating and issued a $25.00 price objective (up from $15.00) on shares of Pure Storage in a research report on Friday, March 2nd. The stock has a market capitalization of $4.41 Billion however its outstanding shares are 234.73 Million. FBN Securities reiterated an "outperform" rating and set a $19.00 price target on shares of Pure Storage in a research report on Sunday, December 4th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have assigned a buy rating to the company's stock. The company now has an average rating of "Buy" and an average target price of $21.60. Investors and traders may be looking to figure out if a stock is trending before employing a specific trading strategy. Including recent unusual volume, Pure Storage, Inc.'s stock is performing at 18.41% on the year.

Pure Storage (NYSE:PSTG) last posted its earnings results on Thursday, March 1st. Similarly, the Return on Invested Capital Quality ratio is a tool in evaluating the quality of a company's ROIC over the course of five years. The company had revenue of $338.30 million during the quarter, compared to the consensus estimate of $331.80 million. Pure Storage had a negative net margin of 17.36% and a negative return on equity of 37.84%. Pure Storage's revenue was up 48.4% on a year-over-year basis. sell-side analysts anticipate that Pure Storage will post -0.79 earnings per share for the current fiscal year. Renaissance Technologies LLC increased its position in Pure Storage by 53.1% during the 4th quarter. Company insiders own 46.58% of the company's stock.

Watching some historical volatility numbers on shares of Pure Storage, Inc. The institutional investor owned 1,238,895 shares of the technology company's stock after purchasing an additional 310,294 shares during the quarter.

Tracking other technical indicators, the 14-day RSI is presently standing at 42.17, the 7-day sits at 42.17, and the 3-day is resting at 44.42 for Pure Storage Inc (PSTG). In the meantime, the stock was trading -16.90% prior to its 52-week high and 91.44% before its 52 week lower trend. Maple Rock Capital Partners Inc. acquired a new stake in Pure Storage during the 3rd quarter worth approximately $12,792,000. Pure Storage Inc (NYSE:PSTG)'s price to sales ratio for trailing twelve month stands at 4.31, whereas its price to book ratio for the most recent quarters is at 8.24.

In other Pure Storage news, Director Michelangelo Volpi sold 1,350,799 shares of the business's stock in a transaction that occurred on Monday, January 9th. The shares were sold at an average price of $19.23, for a total transaction of $57,690.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Timothy Riitters sold 3,000 shares of the business's stock in a transaction on Wednesday, March 28th. The stock was sold at an average price of $19.55, for a total value of $2,443,750.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 842,243 shares of company stock worth $16,503,228.

ILLEGAL ACTIVITY NOTICE: "Pure Storage (PSTG) Shares Sold by LPL Financial LLC" was published by Week Herald and is the property of of Week Herald.

Pure Storage, Inc. a US based Company, belongs to Technology sector and Data Storage Devices industry. The company delivers its data platform through Purity Operating Environment, an optimized software for solid-state memory that offers enterprise-class storage and protocol services; FlashArray and FlashBlade optimized hardware products for solid-state memory to enhance the performance and density of flash, optimize its advanced software services, and reduce solution cost for customers; Pure1, a cloud-based management and support software; and FlashStack, a converged infrastructure solution.

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