KeyBanc Remains a Buy on Pure Storage Inc (PSTG)

KeyBanc analyst Alex Kurtz maintained a Buy rating on Pure Storage Inc (NYSE: PSTG) today and set a price target of $30. The company’s shares closed yesterday at $22.01.

Kurtz has an average return of 25.8% when recommending Pure Storage Inc.

According to TipRanks.com, Kurtz is ranked #373 out of 4861 analysts.

Pure Storage Inc has an analyst consensus of Moderate Buy, with a price target consensus of $26.56, implying a 20.7% upside from current levels. In a report released yesterday, BMO Capital also maintained a Buy rating on the stock with a $29 price target.

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Based on Pure Storage Inc’s latest earnings release for the quarter ending July 31, the company reported a quarterly GAAP net loss of $60.12 million. In comparison, last year the company had a GAAP net loss of $61.7 million.

Based on the recent corporate insider activity of 99 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.