Is Buying Stock Like Pure Storage Inc Good Idea After Today’s Bullish Options Activity?

 Is Buying Stock Like Pure Storage Inc Good Idea After Today's Bullish Options Activity?

In today’s session Pure Storage Inc (PSTG) registered an unusually high (520) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the October, 2016 call, expecting serious PSTG increase. With 520 contracts traded and 16254 open interest for the Oct, 16 contract, it seems this is a quite bullish bet. The option with symbol: PSTG161021C00015000 closed last at: $0.3 or 20% up. About 2.97M shares traded hands or 77.84% up from the average. 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.

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 “Buy” rating given by Maxim Group on Thursday, January 28. UBS initiated the shares of PSTG in a report on Monday, October 19 with “Neutral” rating. The rating was initiated by Stifel Nicolaus with “Buy” on Monday, November 2. Pacific Crest initiated the stock with “Overweight” rating in Monday, November 2 report. The stock of Pure Storage Inc (NYSE:PSTG) earned “Equal-Weight” rating by Barclays Capital on Friday, August 26. The firm has “Negative” rating given on Tuesday, December 8 by Susquehanna. The stock has “Outperform” rating given by Raymond James on Monday, November 2. On Tuesday, January 19 the stock rating was initiated by Lake Street with “Buy”. The company was initiated on Wednesday, December 16 by JMP Securities. Goldman Sachs initiated Pure Storage Inc (NYSE:PSTG) on Monday, November 2 with “Neutral” rating.

Pure Storage, Inc. provides an enterprise data storage platform. The company has a market cap of $2.96 billion. The Company’s storage platform consists of approximately 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. It currently has negative earnings. 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.

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