Pure Storage Inc Gets a Buy Rating from BMO Capital

By Ryan Adsit

In a report released yesterday, Tim Long from BMO Capital reiterated a Buy rating on Pure Storage Inc (NYSE: PSTG), with a price target of $15. The company’s shares opened today at $11.97.

According to TipRanks.com, Long is a 5-star analyst with an average return of 13.3% and a 63.9% success rate. Long covers the Technology sector, focusing on stocks such as Comtech Telecommunications, Hewlett Packard Enterprise, and Riverbed Technology.

Currently, the analyst consensus on Pure Storage Inc is Moderate Buy and the average price target is $14.65, representing a 22.4% upside.

In a report released today, Oppenheimer also reiterated a Buy rating on the stock with a $15 price target.

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 1.74M.

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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.