Pure Storage (PSTG) Earning Positive News Coverage, Report Shows

Media stories about Pure Storage (NYSE:PSTG) have trended positive on Wednesday, Accern Sentiment Analysis reports. The research group identifies positive and negative media coverage by monitoring more than twenty million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Pure Storage earned a media sentiment score of 0.30 on Accern’s scale. Accern also gave media coverage about the technology company an impact score of 45.1836527869374 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.

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

PSTG has been the subject of several research reports. Jefferies Group LLC reiterated a “hold” rating and set a $13.50 price target on shares of Pure Storage in a research note on Friday, August 25th. Susquehanna Bancshares Inc reiterated a “positive” rating and set a $20.00 price target (up previously from $18.00) on shares of Pure Storage in a research note on Thursday, October 5th. ValuEngine upgraded Pure Storage from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. BidaskClub upgraded Pure Storage from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. Finally, Morgan Stanley reiterated an “equal weight” rating on shares of Pure Storage in a research note on Saturday, September 23rd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $15.95.

Pure Storage (PSTG) opened at 15.82 on Wednesday. The company’s market cap is $3.35 billion. Pure Storage has a 52 week low of $9.12 and a 52 week high of $16.35. The firm has a 50-day moving average price of $14.94 and a 200 day moving average price of $12.73.

Pure Storage (NYSE:PSTG) last released its quarterly earnings data on Thursday, August 24th. The technology company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.20. The firm had revenue of $224.50 million during the quarter, compared to analyst estimates of $217.97 million. Pure Storage had a negative return on equity of 46.12% and a negative net margin of 29.55%. The business’s quarterly revenue was up 37.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.16) earnings per share. Analysts expect that Pure Storage will post ($0.22) EPS for the current fiscal year.

In other news, President David Hatfield sold 30,000 shares of the company’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $14.66, for a total value of $439,800.00. Following the completion of the transaction, the president now owns 215,190 shares of the company’s stock, valued at $3,154,685.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Timothy Riitters sold 55,000 shares of the company’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $14.82, for a total value of $815,100.00. Following the completion of the transaction, the chief financial officer now directly owns 332,200 shares of the company’s stock, valued at approximately $4,923,204. The disclosure for this sale can be found here. In the last ninety days, insiders sold 155,000 shares of company stock valued at $2,363,950. Corporate insiders own 41.47% 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.

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

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

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