Oppenheimer Reaffirms Their Buy Rating on Pure Storage (PSTG)


Oppenheimer analyst Ittai Kidron maintained a Buy rating on Pure Storage (PSTG) on March 12 and set a price target of $18.00. The company’s shares closed last Monday at $11.89, close to its 52-week low of $11.60.

According to TipRanks.com, Kidron is a top 25 analyst with an average return of 27.5% and a 67.0% success rate. Kidron covers the Technology sector, focusing on stocks such as Zoom Video Communications, Slack Technologies, and Cambium Networks.

Currently, the analyst consensus on Pure Storage is a Moderate Buy with an average price target of $19.00, a 54.7% upside from current levels. In a report issued on February 29, Maxim Group also reiterated a Buy rating on the stock with a $22.00 price target.

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The company has a one-year high of $23.53 and a one-year low of $11.60. Currently, Pure Storage has an average volume of 3.38M.

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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.

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