Jefferies Raises Price Target on Pure Storage, Inc. (PSTG) Following 3Q; Reiterates Hold
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Pure Storage Announces Third Quarter Fiscal 2017 Results
November 30, 2016 4:01 PM ESTMOUNTAIN VIEW, Calif., Nov. 30, 2016 /PRNewswire/ -- Pure Storage (NYSE: PSTG) today announced financial results for its fiscal third quarter ended October 31, 2016.
Key financial highlights include:
Quarterly revenue: $197.0 million, up 50% Y/Y, and ahead of the guidance range of $187 million to $195 million. Quarterly gross margin: 64.8% GAAP; 65.5% non-GAAP, up 3.7 ppts and 3.8 ppts Y/Y, respectively, and in line with non-GAAP gross margin guidance of 64% to 67%. Quarterly operating margin: -39.7% GAAP; -9.8% non-GAAP,... More