Actionable news
0
All posts from Actionable news
Actionable news in PSTG: Pure Storage Inc,

Pure Storage Could Be 'The Next Major Enterprise Storage Franchise'

Invest with Confidence. Are you a financial professional? Stay on top of your portfolio with Benzinga Pro's real-time newsfeed and alerts and never miss a headline again.
Don't miss the chance to try it FREE today.

Pure Storage Inc PSTG 0.89% shares have lost 9 percent year-to-date. BTIG’s Edward Parker initiated coverage of the company with a Buy rating and a price target of $17, saying that Pure Storage could emerge as “the next major data storage franchise.”

Analyst Edward Parker mentioned the qualities that are likely to make Pure Storage the next major enterprise storage franchise include its:

  1. Leading product set
  2. Direct exposure to accelerating adoption flash technologies for mainstream use
  3. First class go-to-market operation
  4. Rapidly expanding loyal customer base

What Differentiates The Company

“Pure Storage was early in architecting its solutions around flash to provide big gains in performance while using data efficiency software to make the system price competitive with its slower disk-based competition,” Parker wrote.

Moreover, the company indicated that there is significant opportunity that has so far remained underpenetrated in selling to the Cloud service provider segment.

“Pure Storage has already distinguished itself among all other emerging storage companies in terms of revenue and growth rate…We believe that Pure Storage has achieved most of the criteria we think are necessary in order to cross the large moats that protect incumbent vendors in the market,” Parker wrote.

DateFirmActionFromTo
Apr 2016BTIG ResearchInitiates Coverage onBuy
Mar 2016William BlairInitiates Coverage onOutperform
Mar 2016BarclaysMaintainsEqual-weight

© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.