Pure Storage, Inc. (PSTG): Light Data Center Penetration Leaves Plenty Of Room For Growth - Stifel
- Donald Trump Sworn in as 45th U.S. President
- U.S. stocks pare gains after Trump's inaugural speech
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Herbalife (HLF) Says SEC Requested Documents on Anti-Corruption Compliance in China; Reviewed with DoJ
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
Stifel analyst, Aaron Rakers, reiterated his Buy rating on shares of Pure Storage (NYSE: PSTG) and expects Pure's F3Q17 revenue to come in at $193M vs. the $187-$195M revenue guide when the company reports on 11/30 (AMC).
The analyst estimates that the all-Flash storage array (AFA) market grew to +$1.3B during the C3Q16, +85% y/y. HP Enterprise and NetApp recently reported ~100% and 185% y/y during their respective Oct ‘16 quarters, leaving investors focused on conservatism. Industry checks continue to highlight EMC’s decelerating XtremIO momentum as the company appears to be focused on all-Flash VMAX and VNX – a competitive positive for Pure.
No change to the price target of $20.
Shares of Pure Storage closed at $14.25 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Checkpoint Software (CHKP) PT Raised to $94 at Stifel Following 4Q Beat
- UPDATE: Stifel Starts Safe Bulkers (SB) at Hold
- UPDATE: Seaport Global Securities Starts GCP Applied Technologies (GCP) at Buy
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!