Notable Runner: What’s Pure Storage Inc Downside After Today’s Big Decline?

Notable Runner: What's Pure Storage Inc Downside After Today's Big Decline?

The stock of Pure Storage Inc (NYSE:PSTG) is a huge mover today! About 2.84 million shares traded hands or 224.76% up from the average. Pure Storage Inc (NYSE:PSTG) has declined 2.86% since April 28, 2016 and is downtrending. It has underperformed by 8.78% the S&P500.
The move comes after 5 months negative chart setup for the $2.45B company. It was reported on Dec, 1 by Barchart.com. We have $12.38 PT which if reached, will make NYSE:PSTG worth $73.50 million less.

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 rating was initiated by Robert W. Baird on Wednesday, June 29 with “Neutral”. The rating was initiated by Raymond James on Monday, November 2 with “Outperform”. UBS initiated Pure Storage Inc (NYSE:PSTG) rating on Monday, October 19. UBS has “Neutral” rating and $21 price target. The rating was initiated by Sterne Agee CRT with “Neutral” on Wednesday, November 11. The rating was initiated by Goldman Sachs on Monday, November 2 with “Neutral”. BMO Capital Markets initiated the shares of PSTG in a report on Friday, December 11 with “Outperform” rating. On Wednesday, December 16 the stock rating was initiated by JMP Securities with “Mkt Outperform”. The stock of Pure Storage Inc (NYSE:PSTG) has “Outperform” rating given on Thursday, October 8 by FBN Securities. The stock has “Hold” rating given by Jefferies on Tuesday, October 20. The stock has “Overweight” rating given by Pacific Crest 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.”

More important recent Pure Storage Inc (NYSE:PSTG) news were published by: Streetinsider.com which released: “Pure Storage, Inc. (PSTG) Tops Q3 EPS by 5c, Offers FY Guidance” on November 30, 2016, also Nasdaq.com published article titled: “What’s in Store for Pure Storage (PSTG) in Q3 Earnings?”, Fool.com published: “Why Pure Storage, Inc. Shares Tanked Today” on May 26, 2016. More interesting news about Pure Storage Inc (NYSE:PSTG) was released by: Fortune.com and their article: “EMC and Pure Storage Bury the Hatchet in Bitter Legal Dispute” with publication date: October 19, 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.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Related posts

Leave a Comment