Media coverage about Pure Storage (NYSE:PSTG) has trended positive this week, according to Accern Sentiment. The research firm identifies positive and negative press coverage by analyzing more than 20 million news and blog sources in real-time. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. Pure Storage earned a daily sentiment score of 0.28 on Accern’s scale. Accern also gave media coverage about the technology company an impact score of 44.6896103991623 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the near term.
These are some of the news headlines that may have effected Accern’s scoring:
- Pure Storage (PSTG) Raised to Hold at BidaskClub (americanbankingnews.com)
- Pure Storage (PSTG) Downgraded by BidaskClub to Sell (americanbankingnews.com)
- Pure Storage (PSTG) Upgraded to Hold by BidaskClub (americanbankingnews.com)
- Pure Storage To Price Senior Notes Worth $450 Million (feeds.benzinga.com)
- Pure Storage (PSTG) to Price Senior Notes Worth $450 Million (zacks.com)
PSTG has been the subject of a number of recent research reports. Vetr lowered Pure Storage from a “strong-buy” rating to a “buy” rating and set a $21.96 target price for the company. in a research note on Monday, January 29th. Bank of America increased their price target on Pure Storage from $22.00 to $26.00 and gave the company a “buy” rating in a report on Friday, March 2nd. BTIG Research increased their price target on Pure Storage to $25.00 and gave the company a “buy” rating in a report on Friday, March 2nd. Wells Fargo increased their price target on Pure Storage from $23.00 to $30.00 and gave the company an “outperform” rating in a report on Friday, March 2nd. Finally, Barclays raised Pure Storage from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $19.00 to $22.00 in a report on Wednesday, January 17th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $21.60.
Pure Storage (NYSE:PSTG) last announced its quarterly earnings results on Thursday, March 1st. The technology company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.06. Pure Storage had a negative return on equity of 37.84% and a negative net margin of 17.36%. The business had revenue of $338.30 million for the quarter, compared to the consensus estimate of $331.80 million. During the same quarter last year, the business posted ($0.02) EPS. The business’s revenue was up 48.4% on a year-over-year basis. analysts predict that Pure Storage will post -0.79 EPS for the current year.
In related news, CFO Timothy Riitters sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 28th. The stock was sold at an average price of $19.23, for a total value of $57,690.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder James N. White sold 95,123 shares of the firm’s stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $16.62, for a total value of $1,580,944.26. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 873,123 shares of company stock worth $16,802,913. 46.58% of the stock is owned by insiders.
Pure Storage Company Profile
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.
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