Barclays analyst Tim Long lowered the firm’s price target on Pure Storage to $37 from $42 and keeps an Overweight rating on the shares. The company delivered another quarterly earnings beat but its updated fiscal 2024 revenue guide is below expectations as macro and tougher enterprise environment weigh, the analyst tells investors in a research note.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on PSTG:
- Pure Storage sees FY24 revenue growth in mid- to high-single digits
- Pure Storage reports Q4 non-GAAP EPS 53c, consensus 39c
- Pure Storage Announces Fiscal Fourth Quarter and Full Year 2023 Financial Results
- Pure Storage options imply 8.6% move in share price post-earnings
- Pure Storage put volume heavy and directionally bearish
