Pure Storage had 39 analyst reports since October 8, 2015 according to SRatingsIntel. GAM Holding AG purchased a new position in Pure Storage during the third quarter worth about $5,392,000.
Cypress Semiconductor Corporation (CY) knifed -0.29 percent lower and now trades for $16.92. Robert W. Baird initiated Pure Storage Inc (NYSE:PSTG) on Wednesday, June 29 with "Neutral" rating. During the same period in the prior year, the firm posted ($0.16) EPS. analysts predict that Pure Storage will post -0.97 earnings per share for the current fiscal year. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.15) by $0.05. Zacks Investment Research's earnings per share calculations are a mean average based on a survey of sell-side research analysts that follow Pure Storage.
Pure Storage, Inc. (NYSE:PSTG)'s RSI (Relative Strength Index) is 65.52. The company had revenue of $224.50 million for the quarter, compared to the consensus estimate of $217.97 million. Pure Storage's revenue was up 37.6% compared to the same quarter previous year. The firm's quarterly revenue was up 37.6% compared to the same quarter past year.
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A number of equities analysts recently commented on PSTG shares.
Pure Storage, Inc. (PSTG) closed 31.21% above its 200-day moving average and is 6.69% above another chart threshold, its 50-day moving average. Finally, JMP Securities restated a "buy" rating on shares of Pure Storage in a research note on Thursday, December 1st. BMO Capital Markets reiterated an "outperform" rating and set a $16.00 price objective (up from $15.00) on shares of Pure Storage in a report on Friday, August 25th. Marcus Capital LLC now owns 231,500 shares of the technology company's stock valued at $2,966,000 after buying an additional 84,600 shares during the period. A 13 analysts rate it as either a buy or a strong buy, while0 believe that investors should either steer clear of PSTG or, if they already own its stock, sell it. The company has an average rating of "Buy" and a consensus price target of $16.36.
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In other news, President David Hatfield sold 30,000 shares of Pure Storage stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $14.56, for a total value of $72,800.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The stock was sold at an average price of $16.35, for a total value of $1,144,500.00. Following the completion of the sale, the chief financial officer now owns 282,200 shares in the company, valued at approximately $4,108,832. The disclosure for this sale can be found here. The firm's stock has a market capitalization of $3.5 bln.
A number of hedge funds have recently added to or reduced their stakes in the business. On the other hand, company insiders are holding 1.20%. UBS Asset Management Americas Inc. now owns 26,500 shares of the technology company's stock worth $260,000 after acquiring an additional 9,100 shares during the period. American International Group Inc. lifted its stake in shares of Pure Storage by 17.3% in the first quarter. Vanguard Group Inc. now owns 7,059,059 shares of the technology company's stock worth $90,427,000 after purchasing an additional 1,489,008 shares during the last quarter. Finally, California State Teachers Retirement System increased its position in Pure Storage by 110.1% in the second quarter. JPMorgan Chase & Co. now owns 69,105 shares of the technology company's stock worth $679,000 after acquiring an additional 24,817 shares during the period.
Pure Storage (NYSE PSTG) traded up $0.25 during trading on Monday, reaching $16.83. The average 1-year price target for (CY) reveals an average price target of $17.92 per share. The stock's 52-week range is $9.12 to $16.65, and its 3-month range is $12.01 to $16.87.
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The average 1-year price target for Pure Storage, Inc. The Company is focused on delivering software-defined all-flash solutions that are fast and cloud-capable for customers, enabling customers to put data to work for their businesses. The Company's data platform replaces storage systems designed for mechanical disk with all-flash systems optimized end-to-end for solid-state memory.