Morgan Stanley Downgrades Pure Storage Inc to Hold

By Austin Angelo

In a report released today, Kathryn Huberty from Morgan Stanley downgraded Pure Storage Inc (NYSE: PSTG) to Hold. The company’s shares opened today at $10.96.

According to TipRanks.com, Huberty is a 5-star analyst with an average return of 13.3% and a 62.9% success rate. Huberty covers the Technology sector, focusing on stocks such as Hewlett Packard Enterprise, Electronics for Imaging, and Lexmark International.

Pure Storage Inc has an analyst consensus of Moderate Buy, with a price target consensus of $13.88.

The company has a one year high of $15.20 and a one year low of $9.12. Currently, Pure Storage Inc has an average volume of 1.56M.

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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.