Pure Storage (PSTG) PT Raised to $30 at KeyBanc Following 2Q
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Price: $67.80 --0%
Rating Summary:
28 Buy, 8 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 3 | Down: 4 | New: 5
Rating Summary:
28 Buy, 8 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 3 | Down: 4 | New: 5
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KeyBanc analyst Alex Kurtz raised the price target on Pure Storage (NYSE: PSTG) to $30.00 (from $29.00) while maintaining a Overweight rating following the company's 2Q earnings report. Pure Storage reported better-than-expected results with revenue of $308.9M, vs. consensus of $301.3M.
Pure raised FY19 revenue guidance by $25M and both gross and EBIT margin guidance by 150 bps, demonstrating product and business momentum. KeyBanc raised FY19 estimates accordingly including revenue growth of 31% y/y in F3Q19 and 33% y/y in F4Q19.
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