Pure Storage Inc Gets a Hold Rating from Susquehanna

By Carrie Williams

Susquehanna analyst Mehdi Hosseini maintained a Hold rating on Pure Storage Inc (NYSE: PSTG) on May 15 and set a price target of $22. The company’s shares closed yesterday at $23.59, close to its 52-week high of $23.85.

According to TipRanks.com, Hosseini is a 5-star analyst with an average return of 14.8% and a 55.2% success rate. Hosseini covers the Consumer Goods sector, focusing on stocks such as Hewlett Packard Enterprise, Universal Display, and Kla-Tencor Corp.

Pure Storage Inc has an analyst consensus of Strong Buy, with a price target consensus of $24.25.

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Based on Pure Storage Inc’s latest earnings release for the quarter ending January 31, the company reported a quarterly GAAP net loss of $11.88 million. In comparison, last year the company had a GAAP net loss of $62.37 million.

Based on the recent corporate insider activity of 84 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.