The stock of Pure Storage Inc (NYSE:PSTG) is a huge mover today! About 976,892 shares traded hands. Pure Storage Inc (NYSE:PSTG) has declined 7.28% since March 1, 2016 and is downtrending. It has underperformed by 16.52% the S&P500.
The move comes after 6 months positive chart setup for the $2.95 billion company. It was reported on Oct, 4 by Barchart.com. We have $20.06 PT which if reached, will make NYSE:PSTG worth $1.09 billion more.
Pure Storage Inc (NYSE:PSTG) Ratings Coverage
Out of 20 analysts covering Pure Storage (NYSE:PSTG), 12 rate it a “Buy”, 1 “Sell”, while 7 “Hold”. This means 60% are positive. Pure Storage has been the topic of 24 analyst reports since October 8, 2015 according to StockzIntelligence Inc. The stock has “Neutral” rating given by UBS on Monday, October 19. As per Thursday, January 28, the company rating was initiated by Maxim Group. Macquarie Research initiated the shares of PSTG in a report on Wednesday, June 29 with “Outperform” rating. FBN Securities initiated it with “Outperform” rating and $23 target price in Thursday, October 8 report. The rating was initiated by Goldman Sachs on Monday, November 2 with “Neutral”. Oppenheimer upgraded Pure Storage Inc (NYSE:PSTG) on Wednesday, August 31 to “Outperform” rating. The rating was initiated by Sterne Agee CRT on Wednesday, November 11 with “Neutral”. The stock of Pure Storage Inc (NYSE:PSTG) has “Outperform” rating given on Monday, November 2 by Raymond James. The rating was initiated by Susquehanna with “Negative” on Tuesday, December 8. The rating was initiated by BMO Capital Markets on Friday, December 11 with “Outperform”.
According to Zacks Investment Research, “Pure Storage, Inc. offers enterprise data storage platform. The company’s storage platform provides Purity Operating Environment, a flash-optimized software; FlashArray, a modular and scalable all-flash array hardware and Pure1, a cloud-based management and support platform. It operates primarily in the United States, Europe and Asia. The company serves cloud-based software and service providers, consumer Web, education, energy, financial services, governments, healthcare, manufacturing, media, retail and telecommunications sectors. Pure Storage, Inc. is headquartered in Mountain View, California.”
More notable recent Pure Storage Inc (NYSE:PSTG) news were published by: Marketwatch.com which released: “Plus the latest data from Realtor.com on 21 home markets across the US” on October 03, 2015, also Fool.com with their article: “Why Pure Storage, Inc. Shares Tanked Today” published on May 26, 2016, Prnewswire.com published: “Pure Storage Announces Fourth Quarter and Fiscal Year 2016 Financial Results” on March 02, 2016. More interesting news about Pure Storage Inc (NYSE:PSTG) were released by: Prnewswire.com and their article: “Pure Storage Appoints Vik Nagjee as VP and CTO of Global Healthcare Solutions” published on July 20, 2016 as well as Wsj.com‘s news article titled: “EMC Wins Partial Patent Victory Against Pure Storage” with publication date: March 16, 2016.
PSTG Company Profile
Pure Storage, Inc., incorporated on October 2, 2009, provides an enterprise data storage platform. The Company’s storage platform consists of three integrated components, including the Purity Operating Environment, which is its flash-optimized software; FlashArray, which is its modular and scalable all-flash array hardware, and Pure1, which is its cloud management and support. The Company’s clients include large and mid-size organizations across a diverse set of industry verticals, including cloud software and service providers, consumer Web, education, energy, financial services, governments, healthcare, manufacturing, media, retail and telecommunications. The Company’s platform is used for a set of storage use cases, including database applications, private and public cloud infrastructure, virtual server infrastructure and virtual desktop infrastructure.
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