Lake Street analyst Eric Martinuzzi lowered the firm’s price target on Pure Storage to $32 from $38 and keeps a Buy rating on the shares after the company issued formal FY24 guidance that calls for growth in a range of mid to high single digits. The firm continues to see Pure as a share gainer in enterprise storage, but said it is "mindful a slower growth rate deserves a lower valuation."
Published first on TheFly
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Read More on PSTG:
- Pure Storage price target lowered to $31 from $37 at TD Cowen
- Pure Storage price target lowered to $34 from $37 at Morgan Stanley
- Pure Storage price target lowered to $37 from $42 at Barclays
- Pure Storage sees FY24 revenue growth in mid- to high-single digits
- Pure Storage reports Q4 non-GAAP EPS 53c, consensus 39c
