Pure Storage Prices Initial Public Offering
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October 8, 2015 8:28 AM EDT
FBN Securities initiated coverage on Pure Storage (NYSE: PSTG) with an Outperform rating and a price target of $23.00. The initiation follows the company's IPO yesterday. Analyst Shebly Seyrafi is bullish on the stock and he expects Pure Storage's market share momentum to continue.
"The company is currently ~1/16th the size of NTAP and ~1/50th the size of EMC, so it has ample potential ahead to penetrate the ~$24B market... More
October 7, 2015 10:15 AM EDT
Today's IPO for Pure Storage (NYSE: PSTG) opened for trading at $16.74 after pricing its initial public offering of 25,000,000 shares of its Class A common stock at a price to the public of $17.00 per share, the middle of the expected $16-$18 range.
Morgan Stanley and Goldman, Sachs & Co. are acting as lead book-running managers for the proposed... More
