Pure Storage, Inc. (NYSE:PSTG – Get Rating)'s share price gapped up before the market opened on Thursday after Susquehanna Bancshares raised their price target on the stock from $40.00 to $44.00. The stock had previously closed at $29.19, but opened at $30.30. Pure Storage shares last traded at $30.21, with a volume of 68,137 shares trading hands.

Other research analysts also recently issued reports about the company. Lake Street Capital upped their price target on Pure Storage from $36.00 to $38.00 and gave the stock a "buy" rating in a research note on Thursday, September 1st. UBS Group upped their price target on Pure Storage to $33.00 in a research note on Tuesday, September 6th. Barclays upped their price target on Pure Storage from $39.00 to $42.00 and gave the stock an "overweight" rating in a research note on Thursday, September 1st. Raymond James upped their price target on Pure Storage from $39.00 to $42.00 and gave the stock a "strong-buy" rating in a research note on Thursday, September 1st. Finally, KeyCorp upped their price target on Pure Storage from $34.00 to $39.00 and gave the stock an "overweight" rating in a research note on Thursday, September 1st. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $38.89.

Insider Activity at Pure Storage

In related news, Director Andrew William Fraser Brown sold 12,637 shares of the stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $30.18, for a total transaction of $381,384.66. Following the completion of the sale, the director now directly owns 55,448 shares of the company's stock, valued at $1,673,420.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Pure Storage

Pure Storage Price Performance

The stock has a fifty day moving average price of $29.08 and a 200 day moving average price of $27.94. The stock has a market capitalization of $9.03 billion, a P/E ratio of -486.42, a price-to-earnings-growth ratio of 8.06 and a beta of 1.32.

Pure Storage (NYSE:PSTG – Get Rating) last posted its quarterly earnings results on Wednesday, August 31st. The technology company reported $0.05 EPS for the quarter, topping analysts' consensus estimates of ($0.05) by $0.10. Pure Storage had a positive return on equity of 8.41% and a negative net margin of 0.57%. The firm had revenue of $646.80 million during the quarter, compared to analyst estimates of $636.06 million. During the same period last year, the company earned ($0.06) earnings per share. The business's revenue for the quarter was up 30.2% on a year-over-year basis. Research analysts anticipate that Pure Storage, Inc. will post 0.1 earnings per share for the current year.

Pure Storage Company Profile

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Pure Storage, Inc provides data storage technologies, products, and services in the United States and internationally. The company's Purity software is shared across its products and provides enterprise-class data services, such as data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object.

Further Reading

• Get a free copy of the StockNews.com research report on Pure Storage (PSTG)
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