BTIG Sees Pure Storage (PSTG) Shares Trading at 'Unwarranted Discount'; Affirms Buy Rating

December 1, 2016 11:51 AM EST
Get Alerts PSTG Hot Sheet
Price: $12.68 --0%

Rating Summary:
    13 Buy, 10 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 20 | Down: 29 | New: 23
Trade PSTG Now!
Join SI Premium – FREE

Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.

BTIG affirms Pure Storage (NYSE: PSTG) at Buy with a price target of $17 following Q3 results reported Wednesday night.

In part, the firm commented, Pure Storage delivered a strong quarter, with revenue, operating margins, and outlook ahead of consensus. Importantly, operating losses continue to diminish in-line with commitments, improving line of sight to positive FCF generation towards the end of next calendar year. Overall, the company is demonstrating the strongest growth fundamentals we’ve seen from a pure-play storage company in years, underpinned by what we believe is a differentiated (and expanding) product set and a powerful go-to-market model. Stock trades at 2.4x FY18E EV/Revenue, an unwarranted discount.

For an analyst ratings summary and ratings history on Pure Storage click here. For more ratings news on Pure Storage click here.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In






Related Categories

Analyst Comments, Analyst EPS View

Related Entities

BTIG

Add Your Comment