Pure Storage Inc (PSTG) was Upgraded by UBS to ” Buy” and the brokerage firm has set the Price Target at $16. Earlier the firm had a rating of “Neutral ” on the company shares. UBS advised their investors in a research report released on Jun 2, 2016.
Many Wall Street Analysts have commented on Pure Storage Inc. Shares were Reiterated by Maxim Group on May 26, 2016 to “Buy” and Lowered the Price Target to $ 20 from a previous price target of $27 .Needham Initiated Pure Storage Inc on Apr 27, 2016 to “Buy”, Price Target of the shares are set at $18.Shares were Reiterated by UBS on Apr 5, 2016 to “Neutral” and Lowered the Price Target to $ 16 from a previous price target of $17 .
On the company’s financial health, Pure Storage Inc reported $-0.22 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on May 25, 2016. Analyst had a consensus of $-0.23. The company had revenue of $139.90 million for the quarter, compared to analysts expectations of $138.30 million. The company’s revenue was up 88.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.26 EPS.
Pure Storage Inc is a United States-based flash enterprise storage array company. The Company enables the deployment of flash in the data center. The Pure Storage FlashArray is ideal for high performance workloads including server virtualization desktop virtualization (VDI) database (OLTP real-time analytics) and cloud computing. Its application includes VMware Virtual Desktop Infrastructure (VDI) Oracle Database and structured query language (SQL) Server. Its vSphere Web Client plugin enables complete management of storage within VMware: automatically create expand or shrink datastores see array-side capacity and performance of each datastore and understand real storage usage through deduplication.