Pure Storage Inc’s Stock Is Buy After Today’s Bullish Options Activity

 Pure Storage Inc's Stock Is Buy After Today's Bullish Options Activity

In today’s session Pure Storage Inc (PSTG) registered an unusually high (506) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the December, 2016 call, expecting serious PSTG increase. With 506 contracts traded and 1764 open interest for the Dec, 16 contract, it seems this is a quite bullish bet. The option with symbol: PSTG161216C00015000 closed last at: $0.6 or 50% up. About 452,438 shares traded hands. Pure Storage Inc (NYSE:PSTG) has declined 2.42% since April 12, 2016 and is downtrending. It has underperformed by 7.40% 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. $24 is the highest target while $15 is the lowest. The $20.17 average target is 36.75% above today’s ($14.75) stock price. Pure Storage has been the topic of 24 analyst reports since October 8, 2015 according to StockzIntelligence Inc. The stock of Pure Storage Inc (NYSE:PSTG) earned “Neutral” rating by Robert W. Baird on Wednesday, June 29. The firm has “Equal-Weight” rating given on Friday, August 26 by Barclays Capital. The rating was initiated by JMP Securities with “Mkt Outperform” on Wednesday, December 16. As per Tuesday, January 19, the company rating was initiated by Lake Street. The stock of Pure Storage Inc (NYSE:PSTG) earned “Perform” rating by Oppenheimer on Thursday, February 4. The stock of Pure Storage Inc (NYSE:PSTG) has “Outperform” rating given on Wednesday, June 29 by Macquarie Research. The company was initiated on Monday, October 19 by UBS. On Wednesday, August 31 the stock rating was upgraded by Oppenheimer to “Outperform”. The stock of Pure Storage Inc (NYSE:PSTG) has “Buy” rating given on Monday, November 2 by Stifel Nicolaus. The firm has “Buy” rating by Evercore given on Monday, November 2.

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.”

Pure Storage, Inc. provides an enterprise data storage platform. The company has a market cap of $3.02 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.

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.

More notable recent Pure Storage Inc (NYSE:PSTG) news were published by: Fool.com which released: “Why Pure Storage, Inc. Shares Tanked Today” on May 26, 2016, also Prnewswire.com with their article: “Pure Storage Appoints Vik Nagjee as VP and CTO of Global Healthcare Solutions” published on July 20, 2016, Bostonglobe.com published: “In years-long legal war, EMC faces setback” on September 02, 2016. More interesting news about Pure Storage Inc (NYSE:PSTG) were released by: Fortune.com and their article: “EMC and Pure Storage Bury the Hatchet in Bitter Legal Dispute” published on October 19, 2016 as well as Wsj.com‘s news article titled: “Pure Storage, Dell Settle Litigation Launched by EMC” with publication date: October 19, 2016.

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