Pure Storage (PSTG) PT Raised to $36 at Susquehanna

November 30, 2021 12:33 PM EST
Get Alerts PSTG Hot Sheet
Price: $23.82 -3.68%

Rating Summary:
    28 Buy, 5 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 19 | Down: 13 | New: 19
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Susquehanna analyst Mehdi Hosseini raised the price target on Pure Storage (NYSE: PSTG) to $36.00 (from $33.00) while maintaining a Positive rating.

The analyst commented, "We are updating FY22/23 estimates following Pure's Oct-Q (3QFY22) earnings report and conf call from last week, while also introducing our FY24 estimates. All in all, product diversification is playing out and thus helping Pure benefit from the entire storage "pyramid" including Structured Data (FlashArray) and Unstructured Data (Flash Array, Flash Blade, PortWorx)."

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