KeyBanc Reaffirms Their Buy Rating on Pure Storage Inc

In a report released today, Alex Kurtz from KeyBanc maintained a Buy rating on Pure Storage Inc (NYSE: PSTG), with a price target of $27. The company’s shares closed yesterday at $23.58, close to its 52-week high of $24.31.

Kurtz has an average return of 33.3% when recommending Pure Storage Inc.

According to TipRanks.com, Kurtz is ranked #318 out of 4801 analysts.

Currently, the analyst consensus on Pure Storage Inc is Moderate Buy and the average price target is $25, representing a 6.0% upside.

In a report released yesterday, BMO Capital also assigned a Buy rating to the stock with a $29 price target.

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Based on Pure Storage Inc’s latest earnings release for the quarter ending April 30, the company reported a quarterly GAAP net loss of $64.3 million. In comparison, last year the company had a GAAP net loss of $62.37 million.

Based on the recent corporate insider activity of 84 insiders, corporate insider sentiment is negative on the stock.

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Pure Storage, Inc. engages in the provision of flash-based storage solutions. Its technology replaces storage systems designed for mechanical disk with all-flash systems optimized end-to-end for solid-state memory. The company was founded by John Hayes and John Colgrove in October 2009 and is headquartered in Mountain View, CA.