Pure Storage (PSTG) Receiving Favorable News Coverage, Analysis Finds

News coverage about Pure Storage (NYSE:PSTG) has been trending positive on Thursday, according to Accern Sentiment. The research group identifies positive and negative media coverage by reviewing more than 20 million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Pure Storage earned a coverage optimism score of 0.27 on Accern’s scale. Accern also assigned media stories about the technology company an impact score of 46.6593500180942 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the next few days.

These are some of the news headlines that may have impacted Accern’s analysis:

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PSTG has been the topic of several research reports. Robert W. Baird reaffirmed a “neutral” rating and set a $22.00 price objective (up from $20.00) on shares of Pure Storage in a research report on Friday, March 2nd. Vetr cut Pure Storage from a “strong-buy” rating to a “buy” rating and set a $23.58 price objective on the stock. in a research report on Thursday, March 15th. Susquehanna Bancshares reiterated a “neutral” rating and set a $25.00 target price (up from $15.00) on shares of Pure Storage in a report on Friday, March 2nd. BMO Capital Markets lifted their target price on shares of Pure Storage from $22.00 to $25.00 and gave the company an “outperform” rating in a report on Friday, March 2nd. Finally, Barclays boosted their price objective on shares of Pure Storage from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Friday, March 2nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $21.60.

Shares of PSTG traded up $0.53 during midday trading on Thursday, hitting $19.23. 3,720,320 shares of the company traded hands, compared to its average volume of 3,001,786. Pure Storage has a 52 week low of $9.81 and a 52 week high of $22.60.

Pure Storage (NYSE:PSTG) last announced its earnings results on Thursday, March 1st. The technology company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.06. The firm had revenue of $338.30 million for the quarter, compared to analysts’ expectations of $331.80 million. Pure Storage had a negative net margin of 17.36% and a negative return on equity of 37.84%. The business’s revenue was up 48.4% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.02) EPS. sell-side analysts forecast that Pure Storage will post -0.79 EPS for the current fiscal year.

In related news, President David Hatfield sold 94,183 shares of the stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $17.73, for a total value of $1,669,864.59. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John Colgrove sold 8,480 shares of the stock in a transaction dated Thursday, April 5th. The stock was sold at an average price of $20.07, for a total transaction of $170,193.60. The disclosure for this sale can be found here. Insiders have sold a total of 842,243 shares of company stock worth $16,503,228 over the last 90 days. Corporate insiders own 46.58% of the company’s stock.

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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.

Insider Buying and Selling by Quarter for Pure Storage (NYSE:PSTG)

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