Pure Storage (NYSE:PSTG) issued its earnings results on Tuesday. The technology company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.05, Bloomberg Earnings reports. The firm had revenue of $255.90 million during the quarter, compared to the consensus estimate of $251.06 million. Pure Storage had a negative net margin of 17.36% and a negative return on equity of 37.84%. The company’s revenue was up 40.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.14) earnings per share.
Shares of NYSE:PSTG opened at $23.58 on Tuesday. Pure Storage has a one year low of $9.91 and a one year high of $24.31.
A number of equities analysts recently commented on the stock. BMO Capital Markets reiterated a “buy” rating and set a $22.00 target price on shares of Pure Storage in a research note on Thursday, March 1st. Maxim Group reiterated a “hold” rating and set a $21.00 target price (up previously from $20.00) on shares of Pure Storage in a research note on Friday, March 2nd. BTIG Research boosted their target price on shares of Pure Storage to $25.00 and gave the stock a “buy” rating in a research note on Friday, March 2nd. Susquehanna Bancshares reissued a “neutral” rating and issued a $25.00 price target (up from $15.00) on shares of Pure Storage in a research report on Friday, March 2nd. Finally, Wells Fargo boosted their price target on shares of Pure Storage from $23.00 to $30.00 and gave the company an “outperform” rating in a research report on Friday, March 2nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $21.72.
About Pure Storage
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.
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