Susquehanna Remains Sidelined on Pure Storage, Inc. (PSTG) Following 2Q

August 26, 2016 6:56 AM EDT
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Price: $11.88 +0.25%

Rating Summary:
    14 Buy, 9 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 29 | Down: 30 | New: 23
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Susquehanna reiterated a Neutral rating on Pure Storage, Inc. (NYSE: PSTG), and raised the price target to $12.00 (from $11.00), following the company's 2Q earnings report. Reported revenue of $163M exceeded consensus of $155M, and was above the guide of $153M-$157M. An EPS loss of $(0.16) was slightly better than the consensus estimate of $(0.23). The company's top line upside was driven by a solid execution though better EPS was in part due to some of the op-ex that was pushed out by one quarter.

Analyst Mehdi Hosseini commented, "Increasing estimates/PT following the July Q results reported last night though remain on the sidelines with a Neutral rating as we need to better assess the material contribution of Flash Blade starting in FY18."

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 $11.83 yesterday.

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