Pure Storage (PSTG) Receives a Buy from Oppenheimer

In a report released yesterday, George Iwanyc from Oppenheimer assigned a Buy rating to Pure Storage (PSTG), with a price target of $21.00. The company’s shares closed last Tuesday at $19.76.

According to TipRanks.com, Iwanyc is a 4-star analyst with an average return of 13.0% and a 46.3% success rate. Iwanyc covers the Technology sector, focusing on stocks such as Hewlett Packard Enterprise, Cambium Networks, and Juniper Networks.

Currently, the analyst consensus on Pure Storage is a Moderate Buy with an average price target of $19.56, which is a -2.2% downside from current levels. In a report released yesterday, Susquehanna also maintained a Buy rating on the stock with a $23.00 price target.

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Pure Storage’s market cap is currently $5.06B and has a P/E ratio of -26.20. The company has a Price to Book ratio of 7.72.

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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.