Pure Storage Inc (PSTG) is Initiated by Wells Fargo to Market Perform

Pure Storage Inc (PSTG) was Initiated by Wells Fargo to “Market Perform”. Wells Fargo advised their investors in a research report released on Aug 2, 2016.

Many Wall Street Analysts have commented on Pure Storage Inc. Company shares were Upgraded by Susquehanna on Jul 19, 2016 to ” Neutral”, Firm has raised the Price Target to $ 11 from a previous price target of $10 .Pure Storage Inc was Initiated by Macquarie to “Outperform” on Jun 29, 2016. UBS Upgraded Pure Storage Inc on Jun 2, 2016 to ” Buy”, Price Target of the shares are set at $16.

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.

Pure Storage Inc

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