Pure Storage jumps after strong Q2 revenue forecast, PT raise

Everpure

30/05/2024 11:32

** Shares of data storage firm Pure Storage  PSTG.N  up
10.5% at $69.60 premarket 
    ** PSTG forecast Q2 revenue of $755 mln, after markets
closed on Wednesday, above analysts estimates of $750.3 mln -
LSEG
    ** Co also posted revenue of $693.5 mln that beat estimates
of $681 mln
    ** Post results, brokerages Evercore ISI and Susquehanna,
both raise their price target to $75 from $65 
    ** Sixteen of 20 brokerages rate the stock "buy" or higher
and 4 "hold"; median PT is $65 - LSEG
    ** As of last close, PSTG up ~77% YTD

 (Reporting by Pritam Biswas in Bengaluru)
 ((Pritam.Biswas@thomsonreuters.com))