Pure Storage (PSTG) Receives a Buy from Susquehanna

In a report released today, Mehdi Hosseini from Susquehanna reiterated a Buy rating on Pure Storage (PSTGResearch Report), with a price target of $23.00. The company’s shares closed last Thursday at $16.75.

According to TipRanks.com, Hosseini is a 4-star analyst with an average return of 6.0% and a 50.3% success rate. Hosseini covers the Technology sector, focusing on stocks such as Hewlett Packard Enterprise, Advanced Energy Industries, and Keysight Technologies.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Pure Storage with a $19.64 average price target, which is a 16.5% upside from current levels. In a report released yesterday, Raymond James also maintained a Buy rating on the stock with a $21.00 price target.

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The company has a one-year high of $20.50 and a one-year low of $7.93. Currently, Pure Storage has an average volume of 4.11M.

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Pure Storage, Inc. engages in the provision of flash-based storage solutions. Its technology replaces storage systems designed for mechanical disk with all-flash systems optimized end-to-end for solid-state memory. The company was founded by John Hayes and John Colgrove in October 2009 and is headquartered in Mountain View, CA.