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In a report released today, Mehdi Hosseini from Susquehanna reiterated a Hold rating on Pure Storage Inc (PSTG), with a price target of $16. The company’s shares closed last Monday at $13.87, close to its 52-week low of $12.68.
According to TipRanks.com, Hosseini is a 4-star analyst with an average return of 10.1% and a 50.0% success rate. Hosseini covers the Consumer Goods sector, focusing on stocks such as Advanced Energy Industries, Hewlett Packard Enterprise, and Applied Materials Inc.
Currently, the analyst consensus on Pure Storage Inc is a Moderate Buy with an average price target of $19.75.
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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.
