Raymond James Reaffirms Their Buy Rating on Pure Storage (PSTG)

In a report released today, Simon Leopold from Raymond James maintained a Buy rating on Pure Storage (PSTGResearch Report). The company’s shares closed last Wednesday at $15.26.

According to TipRanks.com, Leopold is a 4-star analyst with an average return of 6.6% and a 56.0% success rate. Leopold covers the Technology sector, focusing on stocks such as Telefonaktiebolaget LM Ericsson, Hewlett Packard Enterprise, and CommScope Holding.

Pure Storage has an analyst consensus of Strong Buy, with a price target consensus of $19.56.

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Based on Pure Storage’s latest earnings release for the quarter ending July 31, the company reported a quarterly revenue of $404 million and GAAP net loss of $64.97 million. In comparison, last year the company earned revenue of $396 million and had a GAAP net loss of $66.02 million.

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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.