JPMorgan ‘slightly cautious’ on Pure Storage into Q4 results

JPMorgan analyst Pinjalim Bora is “slightly cautious” on shares of Pure Storage going into the Q4 earnings print. The firm, which keeps an Overweight rating on the shares with a $40 price target, sees a “wider range of outcomes,” especially with respect to full-year revenue guidance, driven by a number of variables. Based on channel conversations, along with sluggish results from some of the data-center infrastructure companies, the macro environment continues to be challenging, the analyst tells investors in a research note. However, JPMorgan thinks Pure “continues to distinguish itself from peers from a product innovation standpoint.”