Why Has Susquehanna Given Pure Storage (NYSE:PSTG) a $10.00 Price Target
Susquehanna analyst launched coverage on Pure Storage (NYSE:PSTG) with a $10.00 target price per share and “Neutral” rating. The target price per share could mean a potential downside of -41.07% from firm’s last close price.
From a total of 13 analysts covering Pure Storage (NYSE:PSTG) stock, 7 rate it a ”Buy”, 0 a “Sell”, and 4 a ”Hold”. This means that 64% of the ratings are positive. The highest target price is $27 while the lowest target price is $10. The mean of all analyst targets is $20.58 with a 24.03% above today’s ($17.56) stock price. Pure Storage was the topic of 13 analyst reports since October 8, 2015 according to the firm StockzIntelligence Inc. Susquehanna initiated shares on December 8 with “Negative” rating. Barclays Capital initiated shares with “Equal-Weight” rating and $21 target share price in a report from a November 2. Raymond James initiated PSTG stock in a recent report from November 2 with “Outperform” rating. Pacific Crest initiated the rating on November 2. Pacific Crest has a “Overweight” rating and a $24 price target on shares. Finally, KeyBanc Capital Markets initiated the stock with “Overweight” rating in a report issued on a November 2.
The stock increased 0.17% or $0.03 during the last trading session, striking $17.56. Approximately 1.68M shares of stock traded hands or 19.15% up from the average. Pure Storage Inc (NYSE:PSTG) has risen 6.00% since November 9, 2015 and is uptrending. It has outperformed by 6.80% the S&P500.
Pure Storage Inc is a United States flash enterprise storage array company. The company has a market cap of $3.25 billion. The Firm enables the deployment of flash in the data center. It currently has negative earnings. The Pure Storage FlashArray is ideal for high performance workloads, including server virtualization, desktop virtualization , database (OLTP, real-time analytics), and cloud computing.
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.” Get a free copy of the Zacks research report on Pure Storage Inc (PSTG).