Pure Storage Inc Gets a Hold Rating from Susquehanna

Susquehanna analyst Mehdi Hosseini maintained a Hold rating on Pure Storage Inc (NYSE: PSTG) yesterday and set a price target of $22. The company’s shares closed yesterday at $22.25, close to its 52-week high of $24.31.

According to TipRanks.com, Hosseini is a 4-star analyst with an average return of 14.8% and a 55.2% success rate. Hosseini covers the Consumer Goods sector, focusing on stocks such as Universal Display, Kla-Tencor Corp, and Western Digital.

Currently, the analyst consensus on Pure Storage Inc is Moderate Buy and the average price target is $25, representing a 12.4% upside.

In a report released yesterday, Robert W. Baird also maintained a Hold rating on the stock with a $25 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.