Favorable News Coverage Somewhat Unlikely to Impact Pure Storage (PSTG) Share Price

News stories about Pure Storage (NYSE:PSTG) have been trending positive this week, according to Accern. The research firm scores the sentiment of press coverage by analyzing more than twenty million news and blog sources in real-time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Pure Storage earned a coverage optimism score of 0.28 on Accern’s scale. Accern also gave news stories about the technology company an impact score of 45.631583068677 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the near term.

Here are some of the news stories that may have effected Accern Sentiment Analysis’s rankings:

A number of equities research analysts have issued reports on the stock. Summit Redstone raised shares of Pure Storage from a “hold” rating to a “buy” rating in a report on Friday, August 25th. BidaskClub raised shares of Pure Storage from a “sell” rating to a “hold” rating in a report on Tuesday, October 17th. KeyCorp reaffirmed a “buy” rating on shares of Pure Storage in a report on Wednesday, November 1st. Wells Fargo & Company assumed coverage on shares of Pure Storage in a report on Tuesday, November 14th. They set an “outperform” rating and a $22.00 price objective for the company. Finally, Robert W. Baird set a $14.00 price objective on shares of Pure Storage and gave the company a “hold” rating in a report on Monday, August 14th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $16.82.

Shares of Pure Storage (NYSE:PSTG) traded up $0.16 during trading on Tuesday, hitting $17.55. The stock had a trading volume of 2,457,900 shares, compared to its average volume of 1,702,578. Pure Storage has a 1 year low of $9.12 and a 1 year high of $17.63.

Pure Storage (NYSE:PSTG) last announced its quarterly earnings results on Thursday, August 24th. The technology company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.20. The firm had revenue of $224.50 million for 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 revenue for the quarter was up 37.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.16) earnings per share. analysts forecast that Pure Storage will post -0.97 EPS for the current year.

In other Pure Storage news, CFO Timothy Riitters sold 55,000 shares of Pure Storage 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 transaction, the chief financial officer now owns 332,200 shares in the company, valued at $4,923,204. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President David Hatfield sold 30,000 shares of Pure Storage stock in a transaction dated Monday, September 18th. The shares were 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 in the company, valued at approximately $3,154,685.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 242,028 shares of company stock worth $3,773,235. Insiders own 41.47% of the company’s stock.

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About Pure Storage

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)

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