Wedbush Maintains Outperform Rating for Pure Storage: Here's What You Need To Know

Wedbush has decided to maintain its Outperform rating of Pure Storage PSTG and raise its price target from $39.00 to $45.00.

Shares of Pure Storage are trading up 0.63% over the last 24 hours, at $36.71 per share.

A move to $45.00 would account for a 22.58% increase from the current share price.

About Pure Storage

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

About Analyst Ratings

Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.

Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans 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.