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PSTG

Pure Storage

$20.60

0.6 (3.00%)

08:50
05/22/19
05/22
08:50
05/22/19
08:50

Pure Storage remains a good growth story, says Lake Street

Lake Street analyst Eric Martinuzzi lowered his price target for Pure Storage to $22 from $26 saying large enterprise deal slippage drove the miss in Q1. Despite the Q1 "stumble," Pure Storage is a share gainer in enterprise storage and remains a good growth story, Martinuzzi tells investors in a research note. He keeps a Buy rating on the shares.

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PSTG Pure Storage
$20.60

0.6 (3.00%)

05/22/19
PIPR
05/22/19
NO CHANGE
Target $20
PIPR
Overweight
Pure Storage price target lowered to $20 from $25 at Piper Jaffray
Piper Jaffray analyst Andrew Nowinski lowered his price target for Pure Storage to $20 from $25 citing the company's "weak" Q1 results and reduced fiscal 2020 outlook. Management attributed the miss to elongated sales cycles in the enterprise space and sales execution issues, Nowinski tells investors in a research note. However, the analyst says that despite the weak results, Pure Storage is still generating "healthy" growth well above peers and that its execution issues are fixable. As a result, he reiterates an Overweight rating on the shares.
05/22/19
JPMS
05/22/19
NO CHANGE
Target $30
JPMS
Overweight
Pure Storage fundamental business strength remains intact, says JPMorgan
JPMorgan analyst Pinjalim Bora says that while Pure Storage's revenue underperformance in Q1 and lower annual revenue guidance is disappointing, several points indicate the fundamental strength of the business is intact. Pure indicated that the core of the business, spanning across Commercial, Cloud and Public Sector, grew 30% year-over-year, and deferred revenue accelerated to 45% year-over-year growth, Bora tells investors in a post-earnings research note. As such, the analyst does not see any fundamental issue with the business or the demand environment, "as the valuation might suggest." He maintains an Overweight rating on Pure Storage with a $30 price target.
05/22/19
KEYB
05/22/19
NO CHANGE
Target $25
KEYB
Overweight
Pure Storage price target lowered to $25 from $30 at KeyBanc
KeyBanc analyst Alex Kurtz lowered his price target for Pure Storage to $25 from $30 after the company reported a Q1 revenue miss by $6M and guided 2020 revenue lower by about $30M as it grappled with longer sales cycles for enterprise transactions and new sales capacity that is still ramping. The analyst sees an intense competitive environment from incumbents adding to the near-term industry headwind, causing him to take a more moderate outlook on the stock until he sees improved execution. Kurtz reiterates an Overweight rating on the shares.
05/22/19
FBCO
05/22/19
NO CHANGE
Target $18
FBCO
Neutral
Pure Storage price target lowered to $18 from $23 at Credit Suisse
Credit Suisse analyst Matthew Cabral lowered his price target for Pure Storage to $18 from $23 after the company posted "disappointing" Q1 results, with sales coming in short estimates and below guidance, due to execution issues around increased sales capacity and fewer large deals getting across the finish line. While these appear more company-specific in nature, they likely "won't calm increasing investor angst over the health of the wider all-flash market," he contends. Cabral reiterates a Neutral rating on the shares.

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KEQU

Kewaunee Scientific

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GM

General Motors

$36.71

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FLXS

Flexsteel Industries

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ADBE

Adobe

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$10.95

0.14 (1.30%)

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PCG

PG&E

$19.15

0.27 (1.43%)

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  • 21

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STOK

Stoke Therapeutics

$0.00

(0.00%)

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LTXB

LegacyTexas Financial

$39.02

0.11 (0.28%)

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UNP

Union Pacific

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0.885 (0.54%)

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  • 18

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MYOS

MYOS

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GM

General Motors

$36.71

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BXC

BlueLinx

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EADSY

Airbus

$0.00

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  • 09

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FB

Facebook

$188.46

-0.43 (-0.23%)

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  • 10

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OII

Oceaneering

$18.34

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APC

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$69.95

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  • 18

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GVA

Granite Construction

$44.64

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APC

Anadarko

$69.95

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MDT

Medtronic

$97.96

0.65 (0.67%)

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  • 19

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EAF

GrafTech

$10.95

0.14 (1.30%)

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APC

Anadarko

$69.95

0.16 (0.23%)

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