In a report released yesterday, George Iwanyc from Oppenheimer assigned a Buy rating to Pure Storage (PSTG), with a price target of $20.00. The company’s shares closed last Thursday at $16.78.
According to TipRanks.com, Iwanyc is a 1-star analyst with an average return of -8.5% and a 31.0% success rate. Iwanyc covers the Technology sector, focusing on stocks such as Hewlett Packard Enterprise, Ceragon Networks, and Juniper Networks.
Pure Storage has an analyst consensus of Strong Buy, with a price target consensus of $17.42.
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Based on Pure Storage’s latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of $492 million and GAAP net loss of $4.65 million. In comparison, last year the company earned revenue of $422 million and had a GAAP net loss of $25.76 million.
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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.
