Pure Storage, Inc. (PSTG): Raising PT On Revenue and Margin Upside - BMO
- AT&T (T) to Acquire Time Warner (TWX) for $107.50/Share
- Rockwell Collins (COL) to Acquire B/E Aerospace (BEAV) for $6.4B
- TD Ameritrade (AMTD) to Acquire Scottrade in $4B Cash & Stock Deal
- Oil prices under pressure as Iraq resists joining output cut
- China Oceanwide to Acquire Genworth Financial (GNW) for $2.7B
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
BMO Capital analyst, Tim Long, reiterated his Market Perform rating on Pure Storage (NYSE: PSTG) after the company reported a very solid quarter, with strong guidance, somewhat reversing the disappointment from last quarter.
Revenues beat, and operating loss was better than expected. Pure beat revenue expectations by 5%, and guidance was in line with the Street, but up meaningfully q/q. The analyst stated "Pure continues to benefit from the rapid industry move to all-flash arrays. We are modeling 63% revenue growth in FY 2017 and 43% in FY 2018. The company is still about two years away from profitability, but free cash flow is still expected to turn positive in the second half of next fiscal year."
The price target increases to $14 from $13.
Shares of Pure Storage closed at $11.83 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Maxim Integrated Products (MXIM): Chip Recovery Has Begun - Wells Fargo
- Jefferies Cuts Price Target on Packaging Corp. (PKG) to $93; Reiterates Buy
- RBC Capital Raises Price Target on Benchmark Electronics (BHE) Following In-Line 3Q
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change, Earnings
Related EntitiesBMO Capital
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!