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Merrill Lynch analyst Wamsi Mohan reiterated a Buy rating on Pure Storage Inc (NYSE: PSTG) yesterday and set a price target of $33. The company’s shares closed yesterday at $27.92, close to its 52-week high of $29.14.
Mohan has an average return of 26.8% when recommending Pure Storage Inc.
According to TipRanks.com, Mohan is ranked #668 out of 4876 analysts.
Currently, the analyst consensus on Pure Storage Inc is a Moderate Buy with an average price target of $27.77, a -0.5% downside from current levels. In a report issued on September 6, Deutsche Bank also maintained a Buy rating on the stock with a $34 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 98 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.
