QQQ
-9.04
370.76
-2.5%
BTC/USD
-2804.25
37876.66
-6.89%
DIA
-4.55
351.88
-1.31%
SPY
-7.88
454.63
-1.76%
TLT
+ 1.85
140.09
+ 1.3%
GLD
-0.72
172.37
-0.42%

Why Analysts See 18% - 38% Upside In Pure Storage Post Analyst Day Meet?

September 29, 2021 4:58 pm
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More
Why Analysts See 18% - 38% Upside In Pure Storage Post Analyst Day Meet?
  • Analysts lauded Pure Storage Inc (NYSE:PSTG) with higher price targets following the analyst day and product launch event.
  • Raymond James analyst Simon Leopold raised the PT to $35 from $31, implying a 38.5% upside, and reiterated a Strong Buy. 
  • The company offered an "encouraging" sales growth outlook that implied long-term growth approaching 20%, coupled with increasing recurring revenue, Leopold noted.
  • Keybanc analyst Steve Enders maintained an Overweight and raised the PT to $30 from $28, indicating an 18.6% upside.
  • Stifel analyst Matthew Sheerin raised the PT to $30 from $28 and maintained a Buy believing in its best-in-class hardware offerings and expanding software and services portfolio.
  • Deutsche Bank analyst Sidney Ho raised the PT to $32 from $29, indicating a 26.5% upside, and affirmed a Buy, betting on growth opportunity, profitability, and the mix shift towards subscription services.
  • BofA analyst Wamsi Mohan raised the PT to $32 from $28 and kept a Buy.
  • Price Action: PSTG shares closed lower by 3.25% at $25.28 on Wednesday.

For the latest in financial news, exclusive stories, memes follow Benzinga on Twitter, Facebook & Instagram. For the best interviews, stock market talk & videos, subscribe to Benzinga Podcasts and our YouTube channel.


Related Articles

Analysts Tick Up Dell Price Target Post Q3 Beat

Analysts Tick Up Dell Price Target Post Q3 Beat

Analysts raised their price targets  read more
Analysts See Huge Upside In Pure Storage Post Q3 Beat

Analysts See Huge Upside In Pure Storage Post Q3 Beat

Analysts raised price targets on&nb read more
Facebook, Amazon, Zoom, Pinduoduo, Tencent — What Cathie Wood's Ark Bought And Sold Today

Facebook, Amazon, Zoom, Pinduoduo, Tencent — What Cathie Wood's Ark Bought And Sold Today

Cathie Wood’s Ark Investment Management sends out an email every night listing the stocks that were bought or sold by the firm's ETFs that day. In recent months, the emails have known to cause certain stocks to see a spike in the after-hours session. Here’s a list of 29 stocks that the hedge fund bought and sold on Wednesday. read more

UPDATE: Morgan Stanley Maintains Equal-Weight On Pure Storage, Lowers Target To $20 Notes 'We expect shares to be under pressure on concerns of competition heating up, low visibility into the pricing environment & macro'