Favorable News Coverage Somewhat Unlikely to Affect Pure Storage (PSTG) Stock Price

Media headlines about Pure Storage (NYSE:PSTG) have trended positive recently, according to Accern. The research firm identifies negative and positive press coverage by analyzing more than twenty million news and blog sources. Accern ranks coverage of public 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 0.32 on Accern’s scale. Accern also gave headlines about the technology company an impact score of 44.2288525185029 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.

A number of analysts have recently weighed in on the company. Vetr lowered Pure Storage from a “strong-buy” rating to a “buy” rating and set a $23.17 price objective for the company. in a research note on Wednesday. Goldman Sachs Group assumed coverage on Pure Storage in a research note on Wednesday, February 7th. They set a “sell” rating and a $16.00 price objective for the company. ValuEngine raised Pure Storage from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd. Barclays raised Pure Storage from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $19.00 to $22.00 in a research note on Wednesday, January 17th. Finally, KeyCorp reissued a “buy” rating and set a $24.00 price objective on shares of Pure Storage in a research note on Wednesday, November 29th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the stock. Pure Storage presently has an average rating of “Buy” and an average price target of $19.18.

Shares of Pure Storage (NYSE PSTG) traded down $0.36 during trading on Friday, hitting $21.62. The company had a trading volume of 1,704,331 shares, compared to its average volume of 2,400,000. The company has a market capitalization of $4,690.00 and a P/E ratio of -20.99. Pure Storage has a one year low of $9.12 and a one year high of $22.22.

Pure Storage (NYSE:PSTG) last posted its quarterly earnings data on Tuesday, November 28th. The technology company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.02. The business had revenue of $277.70 million during the quarter, compared to the consensus estimate of $272.07 million. Pure Storage had a negative return on equity of 44.96% and a negative net margin of 22.86%. The firm’s quarterly revenue was up 41.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.10) earnings per share. sell-side analysts anticipate that Pure Storage will post -0.93 EPS for the current fiscal year.

In other Pure Storage news, Director Scott Dietzen sold 125,000 shares of the stock in a transaction on Friday, January 26th. The stock was sold at an average price of $19.55, for a total value of $2,443,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President David Hatfield sold 130,000 shares of the stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $18.05, for a total value of $2,346,500.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 877,362 shares of company stock valued at $15,556,864. 46.58% of the stock is owned by corporate insiders.

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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)

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