Is Pure Storage (NYSE:PSTG) a Stock to Watch Now That JMP Securities Has Begun Covering It?

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How JMP Securities Currently Rates Pure Storage (NYSE:PSTG)

Professional analysts at JMP Securities initiated coverage Pure Storage (NYSE:PSTG) shares in a recent report revealed on 16 December, IR.net reports. The firm has set a Mkt Outperform rating on PSTG stock.

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 23.61% above today’s ($17.62) stock price. Pure Storage was the topic of 14 analyst reports since October 8, 2015 according to the firm StockzIntelligence Inc. BMO Capital Markets initiated shares on December 11 with “Outperform” rating. Barclays Capital initiated shares with “Equal-Weight” rating and $21 target share price in a report from a November 2. Sterne Agee CRT initiated PSTG stock in a recent report from November 11 with “Neutral” rating. KeyBanc Capital Markets initiated the rating on November 2. KeyBanc Capital Markets has a “Overweight” rating and a $24 price target on shares. Finally, Evercore initiated the stock with “Buy” rating in a report issued on a November 2.

Approximately 169,135 shares of stock traded hands. Pure Storage Inc (NYSE:PSTG) has risen 6.00% since November 16, 2015 and is uptrending. It has outperformed by 8.62% the S&P500.

Pure Storage Inc is a United States flash enterprise storage array company. The company has a market cap of $3.24 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.”

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