Pure Storage (PSTG) Receives a Hold from Morgan Stanley

Morgan Stanley analyst Kathryn Huberty maintained a Hold rating on Pure Storage (PSTG) today and set a price target of $28.00. The company’s shares closed last Friday at $23.58.

According to TipRanks.com, Huberty is a 5-star analyst with an average return of 13.9% and a 62.2% success rate. Huberty covers the Technology sector, focusing on stocks such as International Business Machines, Hewlett Packard Enterprise, and Dell Technologies.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Pure Storage with a $29.21 average price target, representing a 22.5% upside. In a report issued on February 22, Deutsche Bank also maintained a Hold rating on the stock with a $24.00 price target.

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The company has a one-year high of $29.53 and a one-year low of $7.93. Currently, Pure Storage has an average volume of 4.63M.

Based on the recent corporate insider activity of 33 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PSTG in relation to earlier this year.

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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.