Stifel Nicolaus Reiterates a Hold Rating on Pure Storage Inc (PSTG)

In a report released yesterday, Matthew Sheerin from Stifel Nicolaus reiterated a Hold rating on Pure Storage Inc (PSTG), with a price target of $22. The company’s shares opened today at $18, close to its 52-week low of $15.81.

According to TipRanks.com, Sheerin is a 4-star analyst with an average return of 9.2% and a 59.5% success rate. Sheerin covers the Consumer Goods sector, focusing on stocks such as Vishay Intertechnology, TE Connectivity, and Kemet Corp.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Pure Storage Inc with a $27.21 average price target, implying a 51.2% upside from current levels. In a report released yesterday, Morgan Stanley also maintained a Hold rating on the stock with a $25 price target.

.

See today’s analyst top recommended stocks >>

Based on Pure Storage Inc’s latest earnings release for the quarter ending October 31, the company reported a quarterly GAAP net loss of $28.18 million. In comparison, last year the company had a GAAP net loss of $41.65 million.

Based on the recent corporate insider activity of 98 insiders, corporate insider sentiment is negative on the stock.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.