Pure Storage Inc (PSTG) Gets a Hold Rating from Morgan Stanley

In a report released today, Kathryn Huberty from Morgan Stanley maintained a Hold rating on Pure Storage Inc (PSTG), with a price target of $17. The company’s shares closed last Monday at $13.87, close to its 52-week low of $12.68.

According to TipRanks.com, Huberty is a 5-star analyst with an average return of 10.4% and a 60.4% success rate. Huberty covers the Consumer Goods sector, focusing on stocks such as Hewlett Packard Enterprise, Dell Technologies Inc, and Seagate Tech.

Pure Storage Inc has an analyst consensus of Moderate Buy, with a price target consensus of $18.50, implying a 33.4% upside from current levels. In a report released today, Susquehanna also reiterated a Hold rating on the stock with a $16 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 $100 million. In comparison, last year the company had a GAAP net loss of $60.12 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.