Deutsche Bank began coverage on shares of Pure Storage (NYSE:PSTG) in a research report released on Monday morning. The brokerage issued a buy rating and a $24.00 target price on the technology company’s stock.

A number of other brokerages have also issued reports on PSTG. BMO Capital Markets restated a buy rating and issued a $22.00 target price on shares of Pure Storage in a research note on Thursday, March 1st. BTIG Research raised their target price on Pure Storage to $25.00 and gave the stock a buy rating in a research note on Friday, March 2nd. Maxim Group restated a hold rating and issued a $21.00 target price (up previously from $20.00) on shares of Pure Storage in a research note on Friday, March 2nd. Susquehanna Bancshares restated a neutral rating and issued a $25.00 target price (up previously from $15.00) on shares of Pure Storage in a research note on Friday, March 2nd. Finally, Wells Fargo raised their target price on Pure Storage from $23.00 to $30.00 and gave the stock an outperform rating in a research note on Friday, March 2nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $21.72.

How to Become a New Pot Stock Millionaire

Pure Storage stock opened at $19.48 on Monday. Pure Storage has a 1-year low of $9.81 and a 1-year high of $22.60.

Pure Storage (NYSE:PSTG) last issued its earnings results on Thursday, March 1st. The technology company reported $0.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.06. The company had revenue of $338.30 million during the quarter, compared to analyst estimates of $331.80 million. Pure Storage had a negative return on equity of 37.84% and a negative net margin of 17.36%. The firm’s quarterly revenue was up 48.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.02) EPS. sell-side analysts anticipate that Pure Storage will post -0.79 EPS for the current fiscal year.

In other Pure Storage news, Director Scott Dietzen sold 125,000 shares of Pure Storage stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $21.37, for a total transaction of $2,671,250.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, President David Hatfield sold 95,817 shares of Pure Storage stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $18.01, for a total value of $1,725,664.17. The disclosure for this sale can be found here. Insiders have sold a total of 842,243 shares of company stock valued at $16,503,228 in the last quarter. Company insiders own 41.47% of the company’s stock.

Large investors have recently bought and sold shares of the company. Fortaleza Asset Management Inc. acquired a new stake in shares of Pure Storage during the 4th quarter valued at about $154,000. Ardsley Advisory Partners acquired a new stake in shares of Pure Storage during the 4th quarter valued at about $159,000. SG Americas Securities LLC acquired a new stake in shares of Pure Storage during the 4th quarter valued at about $162,000. Great West Life Assurance Co. Can grew its position in shares of Pure Storage by 151.3% during the 3rd quarter. Great West Life Assurance Co. Can now owns 11,310 shares of the technology company’s stock valued at $180,000 after acquiring an additional 6,810 shares during the period. Finally, Barings LLC acquired a new stake in shares of Pure Storage during the 4th quarter valued at about $250,000. Hedge funds and other institutional investors own 45.48% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “Pure Storage (PSTG) Now Covered by Deutsche Bank” was originally reported by Daily Political and is the property of of Daily Political. If you are accessing this news story on another domain, it was copied illegally and republished in violation of United States & international copyright legislation. The original version of this news story can be viewed at https://www.dailypolitical.com/2018/04/17/pure-storage-pstg-now-covered-by-deutsche-bank.html.

Pure Storage Company Profile

Pure Storage, Inc engages in building a data platform that enables businesses to enhance performance and reduce complexity and costs worldwide. The company delivers its data platform through Purity Operating Environment, an optimized software for solid-state memory that offers enterprise-class storage and protocol services; FlashArray and FlashBlade optimized hardware products for solid-state memory to enhance the performance and density of flash, optimize its advanced software services, and reduce solution cost for customers; Pure1, a cloud-based management and support software; and FlashStack, a converged infrastructure solution.

Analyst Recommendations for Pure Storage (NYSE:PSTG)

Receive News & Ratings for Pure Storage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pure Storage and related companies with MarketBeat.com's FREE daily email newsletter.