I have blogged about this previously but just wanted to update all on the first reporting period for Pure Storage that went public at $17 in October.
PSEG will continue to see rapid growth at the expense of incumbents because they are light years ahead of them. (See upgrades below)
Oh and by the way:
Duquesne Capital Management LLC acquired a 1,600,000-share stake in Pure Storage Inc. on Oct. 7th
Pure Storage (PSTG) stock gained 12.72% to $15.69 on heavy trading volume on Thursday morning after the company reported Q3 financial results.
The flash enterprise storage array company, reported a narrower-than-expected loss and revenue that exceeded expectations for the fiscal 2016 third quarter.
Pure Storage posted a loss of 18 cents per share for the quarter ended October 31, beating estimates of a loss of 30 cents per share.
Revenue increased 167% year-over-year to $131.36 million, beating estimates of $106.95 million.
Pure Storage added over 250 customers during the third quarter, including Domino’s Pizza (DPZ) and The Boston Globe, bringing its total customer base to more than 1,350 organizations.
- Pure Storage started at outperform with $23 stock price target at Raymond James
- Pure Storage started at equal weight with $21 stock price target at Barclays
- Pure Storage started at overweight with $24 stock price target at Pacific Crest
