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PSTG

Pure Storage

$18.17

0.41 (2.31%)

06:12
09/12/19
09/12
06:12
09/12/19
06:12

Pure Storage price target raised to $21 from $16 at Piper Jaffray

Piper Jaffray analyst Andrew Nowinski raised his price target for Pure Storage to $21 from $16 and reiterates an Overweight rating on the shares after traveling with management. While the July quarter proved to be a disappointment after management lowered the annual outlook, Pure Storage is "still the top-performing vendor in the market by a wide margin," Nowinski tells investors in a research note. He believes the company's competitive position in the all-flash market is still "very strong" and that revenue growth expectations could prove to be too conservative.

  • 08

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    Dec

PSTG Pure Storage
$18.17

0.41 (2.31%)

08/22/19
BTIG
08/22/19
NO CHANGE
Target $20
BTIG
Buy
Pure Storage price target lowered to $20 from $28 at BTIG
BTIG analyst Edward Parker lowered his price target on Pure Storage to $20, saying that while the company beat expectations on Q2 earnings, it also lowered its FY20 revenue outlook for the second consecutive quarter. The analyst notes that the management is citing a bigger than expected decline in NAND pricing, even though it expects a rebound to come in 2020. Parker still keeps his Buy rating on Pure Storage longer term, stating that the company's buyback program provides evidence of strong fundamentals and adding that he is "encouraged" by its "structural gross margin leadership."
08/22/19
LSCM
08/22/19
NO CHANGE
Target $19
LSCM
Buy
Pure Storage price target lowered to $19 from $22 at Lake Street
Lake Street analyst Eric Martinuzzi pointed to two reasons that Pure Storage gave Q3 and FY20 guidance that was below expectations, namely that NAND flash memory component cost declined faster than anticipated and that the company believes it prudent to take into account competitor commentary regarding macro softness, even though Pure was not hurt by macro weakness in Q2. While "the lower revenue outlook is understandable, this is the second downward revision in as many quarters," stated Martinuzzi, who lowered his price target on Pure Storage shares to $19 from $22 but keeps a Buy rating on the stock.
09/09/19
SUSQ
09/09/19
UPGRADE
SUSQ
Positive
Pure Storage upgraded to Positive from Neutral at Susquehanna
09/09/19
SUSQ
09/09/19
UPGRADE
Target $25
SUSQ
Positive
Susquehanna upgrades Pure Storage to Positive, boosts target to $25 from $16
Susquehanna analyst Mehdi Hosseini upgraded Pure Storage to Positive from Neutral and raised his price target for the shares to $25 from $16. The company's all-flash array opportunity remains in the early innings and underappreciated by investors, as there still is a "sea of disk/hybrid systems ready to be displaced," Hosseini tells investors in a research note. Further, 5G-fueled growth in data and analytics "can add another layer of demand," adds the analyst. As a result, he has confidence in sustained growth for Pure Storage through fiscal 2022.

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