Pure Storage (PSTG) PT Raised to $21 at Raymond James

May 29, 2020 7:55 AM EDT
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Price: $19.68 -0.56%

Rating Summary:
    28 Buy, 5 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 12 | New: 23
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Raymond James analyst Simon Leopold raised the price target on Pure Storage (NYSE: PSTG) to $21.00 (from $17.50) while maintaining a Outperform rating following the company's 1Q earnings report. Pure Storage reported F1Q21 revenue of $367.1 million, above the Street’s $351.4 million and the original forecast for ~$365 million. Non-GAAP EPS of $(0.02), was above the Street’s $(0.16).

Raymond James' F2Q21 sales estimates go to $393 million, from $355 million, and F2Q21 non-GAAP EPS estimate goes to $0.01 from $-0.12. FY2021 sales go to $1,713 million from $1,655 million previously, and non-GAAP EPS goes to $0.27 from $-0.07.

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