News stories about Pure Storage (NYSE:PSTG) have trended positive this week, according to Accern Sentiment Analysis. The research firm rates the sentiment of media coverage by analyzing more than twenty million news and blog sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Pure Storage earned a news sentiment score of 0.29 on Accern’s scale. Accern also assigned headlines about the technology company an impact score of 45.0299852860074 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the near future.
Here are some of the media headlines that may have impacted Accern’s analysis:
- Pure Storage Inc (bloomberg.com)
- Traders Purchase High Volume of Pure Storage Put Options (PSTG) (americanbankingnews.com)
- Pure Storage : reports 3Q loss (4-traders.com)
- Pure Storage’s (PSTG) Hold Rating Reiterated at Maxim Group (americanbankingnews.com)
- Pure Storage (PSTG) Receives “Buy” Rating from UBS (americanbankingnews.com)
Several equities analysts recently commented on PSTG shares. JMP Securities increased their target price on Pure Storage from $16.00 to $22.00 and gave the company an “outperform” rating in a report on Friday, October 13th. Oppenheimer reissued a “buy” rating and issued a $21.00 target price on shares of Pure Storage in a report on Wednesday. Robert W. Baird reissued a “hold” rating and issued a $20.00 target price on shares of Pure Storage in a report on Wednesday. Jefferies Group reissued a “hold” rating and issued a $13.50 target price on shares of Pure Storage in a report on Friday, August 25th. Finally, Susquehanna Bancshares reissued a “positive” rating and issued a $20.00 target price (up previously from $18.00) on shares of Pure Storage in a report on Thursday, October 5th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Pure Storage currently has a consensus rating of “Buy” and a consensus target price of $18.57.
Pure Storage (NYSE:PSTG) last issued its quarterly earnings data on Tuesday, November 28th. The technology company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.02. The company had revenue of $277.70 million for the quarter, compared to analyst estimates of $272.07 million. Pure Storage had a negative return on equity of 44.86% and a negative net margin of 22.86%. The business’s quarterly revenue was up 41.0% compared to the same quarter last year. During the same quarter last year, the company posted ($0.10) earnings per share. sell-side analysts forecast that Pure Storage will post -0.93 EPS for the current year.
In related news, President David Hatfield sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $16.00, for a total transaction of $640,000.00. Following the transaction, the president now owns 225,190 shares of the company’s stock, valued at $3,603,040. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Timothy Riitters sold 5,000 shares of the firm’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $14.56, for a total value of $72,800.00. Following the transaction, the chief financial officer now directly owns 282,200 shares in the company, valued at approximately $4,108,832. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 317,028 shares of company stock worth $5,304,635. Corporate insiders own 46.58% of the company’s stock.
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Pure Storage Company Profile
Pure Storage, Inc provides a data platform. The Company is focused on delivering software-defined all-flash solutions that are fast and cloud-capable for customers, enabling customers to put data to work for their businesses. Its data platform replaces storage systems designed for mechanical disk with all-flash systems optimized end-to-end for solid-state memory.
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