Pure Storage Inc Gets a Hold Rating from Robert W. Baird

By Austin Angelo

Robert W. Baird analyst Jayson Noland reiterated a Hold rating on Pure Storage Inc (NYSE: PSTG) today. The company’s shares closed yesterday at $12.66.

Noland noted:

“We attended Pure//Accelerate, the company’s annual user and partner conference, in San Francisco yesterday where Pure announced a swath of new software features for its growing storage platform. Management’s address to investors highlighted the company’s runway in a $35 billion+ TAM, and the potential for growth in Cloud, and Next-Gen Data applications.”

According to TipRanks.com, Noland is a 3-star analyst with an average return of 2.7% and a 41.8% success rate. Noland covers the Technology sector, focusing on stocks such as Brocade Communication Systems Inc, Hewlett Packard Enterprise, and Riverbed Technology.

Pure Storage Inc has an analyst consensus of Moderate Buy, with a price target consensus of $15.64.

The company has a one year high of $15.14 and a one year low of $9.12. Currently, Pure Storage Inc has an average volume of 1.69M.

Based on the recent corporate insider activity of 22 insiders, corporate insider sentiment is negative on the stock.

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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.