Is Pure Storage, Inc. (PSTG) Running Out of Gas?

Oppenheimer Holdings Inc. set a $15.00 price target on Pure Storage and gave the company a buy rating in a research report on Monday, April 3rd. Currently, the stock has a 1 Year Price Target of $14.38. The company is expected to report EPS as high as $-0.10 and as low as $-0.21 per share. BLDR share have rallied by 25.89% in percentage terms since the start of the year – and retreated -13.69% in the last month. Pure Storage, Inc. disclosed in a document filed with the US Securities and Exchange Commission (SEC) that CFO Riitters Timothy has sold 3,416 shares of Pure Storage, Inc. During the same quarter previous year, the company earned ($0.22) earnings per share. Walter & Keenan Financial Consulting Co. Dynamic Technology Lab Private Ltd bought a new position in Pure Storage during the fourth quarter worth about $129,000. For the last quarter, the stock has performed 2.25%. Pure Storage has a 12 month low of $9.12 and a 12 month high of $15.14. 4644610 shares were traded during the last session. Finally, Ladenburg Thalmann Financial Services Inc. boosted its position in Pure Storage by 88.7% in the fourth quarter. The stock’s 52-week range is $138.20 – $255.15.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. The legal version of this report can be accessed at https://www.themarketsdaily.com/2017/05/26/pure-storage-inc-pstg-receives-neutral-rating-from-jpmorgan-chase-co.html. The third largest holder is Okumus Fund Management Ltd., which now holds $74.56 million worth of this stock and that ownership represents almost 2.92% of its market capitalization. Going toward to the 50-day, we can see that shares are now trading 12.13% off of that figure. Recently, the stock has been noticed trading 7.20% away from the 20-day moving average. More interesting news about Pure Storage Inc (NYSE:PSTG) was released by: Prnewswire.com and their article: “Pure Storage Announces New “NVMe Now” Promotion, Extends Evergreen Experience …” with publication date: May 08, 2017. The company enjoyed 31 percent revenue growth to $182.6 million for the quarter and saw its losses narrow to $62.4 million. Pure Storage had a negative return on equity of 41.13% and a negative net margin of 37.84%. Gross margin was 65.2% GAAP this quarter, down ever so slightly from last quarter’s 65.3% and down from this time a year ago (non-GAAP gross margin 66.4% up from last quarter’s 66.1%).

Pure Storage had its “outperform” rating reiterated by analysts at Wells Fargo.

WARNING: This piece of content was reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this report on another website, it was illegally stolen and reposted in violation of USA and worldwide copyright & trademark law. Pure Storage Inc (NYSE:PSTG) has a market cap of $2.37B and the number of outstanding shares have been calculated 207.91M. The stock price increased 9.34% or $-1.01 versus $10.81 at the end of the prior session.

Pure Storage, Inc. on 05/24/2017 reported its EPS as $-0.14 with the analysts projecting the EPS of the stock as $-0.22. BMO Capital Markets reaffirmed an “outperform” rating and set a $14.00 price target on shares of Pure Storage in a report on Wednesday, March 1st. However, most financial instruments are traded after hours which mean that the closing price of a stock might not match the after-hours price. Nine analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. Analysts have a mean recommendation of 2.20 on this stock (A rating of less than 2 means buy, “hold” within the 3 range, “sell” within the 4 range, and “strong sell” within the 5 range).

In other news, Director Michelangelo Volpi sold 958,024 shares of the stock in a transaction that occurred on Thursday, March 9th.

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