Pure Storage, Inc. (PSTG): Cautious Into Earnings - Baird

August 22, 2016 6:49 AM EDT
Get Alerts PSTG Hot Sheet
Price: $12.36 -1.36%

Rating Summary:
    13 Buy, 10 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 25 | Down: 28 | New: 8
Trade PSTG Now!
Join SI Premium – FREE

Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.

Baird analyst, Jayson, Noland, reiterated his Neutral rating on shares of Pure Storage (NYSE: PSTG) heading into the earnings release. He is cautious on shares of PSTG and expects to see some evidence of competitive pressure in revenue or gross margin in the near term.

NetApp (NASDAQL NTAP) is clearly showing AFA momentum and checks say it’s sustainable. The company has a migration advantage within its legacy 7 install base plus feature/functionality mobility. NetApp is also successfully using contractual guarantees that address performance and footprint. The analyst is hearing good things about All-Flash 3PAR from HP and he expects Dell to get incrementally aggressive with EMC once the deal closes.

No change to the price target of $12.

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

Shares of Pure Storage closed at $11.66 yesterday.

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

You May Also Be Interested In

Related Categories

Analyst Comments

Related Entities

Robert W Baird, Earnings

Add Your Comment