OTR Global Downgrades Pure Storage Inc to Negative

Brokerage firm OTR Global Downgrades its rating on Pure Storage Inc(NYSE:PSTG). The shares have been rated Negative. Previously, the analysts had a Positive rating on the shares. The rating by OTR Global was issued on Aug 19, 2016.

In a different note, Baird said it Initiates Coverage on Pure Storage Inc, according to a research note issued on Jun 29, 2016. The shares have been rated ‘Neutral’ by the firm. Macquarie said it Initiates Coverage on Pure Storage Inc, according to a research note issued on Jun 29, 2016. The shares have been rated ‘Outperform’ by the firm. On Jun 2, 2016, UBS said it Upgrades its rating on Pure Storage Inc. The shares have been rated ‘Buy’ by the firm. On May 26, 2016, BMO Capital said it Downgrades its rating on Pure Storage Inc. In the research note, the firm Lowers the price-target to $5.00 per share. The shares have been rated ‘Market Perform’ by the firm. On May 26, 2016, Bank of America said it Maintains its rating on Pure Storage Inc. In the research note, the firm Lowers the price-target to $18.00 per share. The shares have been rated ‘Buy’ by the firm.

Pure Storage Inc(PSTG) last announced its earnings results on May 25, 2016 for Fiscal Year 2017 and Q1.Company reported revenue of $139.95M. Analysts had an estimated revenue of $137.89M. Earnings per share were $-0.22. Analysts had estimated an EPS of $-0.23.

Several Insider Transactions has been reported to the SEC. On Aug 4, 2016, James N White (10% owner) purchased 66,000 shares at $10.12 per share price.Also, On Dec 10, 2015, Aneel Bhusri (director 10% owner) purchased 206,887 shares at $17.95 per share price.

Pure Storage Inc is a United States-based flash enterprise storage array company. The Company enables the deployment of flash in the data center. The Pure Storage FlashArray is ideal for high performance workloads including server virtualization desktop virtualization (VDI) database (OLTP real-time analytics) and cloud computing. Its application includes VMware Virtual Desktop Infrastructure (VDI) Oracle Database and structured query language (SQL) Server. Its vSphere Web Client plugin enables complete management of storage within VMware: automatically create expand or shrink datastores see array-side capacity and performance of each datastore and understand real storage usage through deduplication.

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