Keybanc Maintains an Overweight Rating for Pure Storage: Here's What You Need to Know

Keybanc has decided to maintain its overweight rating of Pure Storage PSTG and increase its price target from $34.00 to $39.00.

Pure Storage shares are trading down 5.04% in the past 24 hours, at $27.51 per share.

A move to $39.00 would represent a 41.77% increase from the current share price.

About pure storage

Pure Storage Inc is a United States-based company that provides an enterprise data storage platform that transforms the business through a dramatic increase in performance and reduction complexity and cost. It generates revenue from two sources: product revenue, which includes the sale of embedded storage hardware and embedded operating system software; revenue from subscription services which includes Evergreen Storage subscriptions, a unified subscription which includes Pure as-a-Service, Cloud Block Store and Portworx. Subscription services revenue also includes professional service offerings such as installation and implementation consulting services.

About analyst ratings

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Some analysts will also offer forecasts for metrics such as growth estimates, earnings and revenue to provide additional insights into stocks. Investors using analyst ratings should note that such expert advice is human-sourced and may be subject to error.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.

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