Stock analysts at Maxim Group started coverage on shares of Pure Storage Inc (NYSE:PSTG) in a report issued on Thursday, The Fly reports. The brokerage set a “buy” rating and a $22.00 price target on the stock. Maxim Group’s price target indicates a potential upside of 69.23% from the stock’s previous close.

In other Pure Storage news, Director Aneel Bhusri purchased 206,887 shares of the company’s stock in a transaction dated Wednesday, December 9th. The stock was bought at an average cost of $17.95 per share, for a total transaction of $3,713,621.65. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Greylock Xiv Gp Llc purchased 1,013,704 shares of the company’s stock in a transaction dated Wednesday, December 9th. The stock was acquired at an average price of $17.37 per share, with a total value of $17,608,038.48. The disclosure for this purchase can be found here.

Other equities analysts have also recently issued research reports about the company. Goldman Sachs assumed coverage on Pure Storage in a report on Monday, November 2nd. They set a “neutral” rating and a $19.00 target price for the company. Barclays assumed coverage on Pure Storage in a report on Monday, November 2nd. They set an “equal weight” rating and a $21.00 target price for the company. Bank of America began coverage on Pure Storage in a report on Monday, November 2nd. They set a “buy” rating for the company. KeyBanc began coverage on Pure Storage in a report on Monday, November 2nd. They issued an “overweight” rating and a $24.00 price objective for the company. Finally, Evercore ISI began coverage on Pure Storage in a report on Monday, November 2nd. They issued a “buy” rating and a $21.00 price objective for the company. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $20.56.

Several large investors have added to or reduced their stakes in the stock. California State Teachers Retirement System acquired a new stake in Pure Storage during the fourth quarter worth $830,000. Quantitative Systematic Strategies acquired a new stake in Pure Storage during the fourth quarter worth $303,000. Russell Frank Co acquired a new stake in Pure Storage during the fourth quarter worth $296,000. Finally, Nationwide Fund Advisors acquired a new stake in Pure Storage during the fourth quarter worth $287,000.

Pure Storage (NYSE:PSTG) traded down 0.08% on Thursday, reaching $13.00. The company had a trading volume of 536,919 shares. Pure Storage has a one year low of $12.65 and a one year high of $13.12. The stock’s market cap is $2.47 billion. The company has a 50-day moving average of $0.00 and a 200 day moving average of $0.00.

Pure Storage (NYSE:PSTG) last issued its quarterly earnings data on Thursday, December 3rd. The company reported ($0.18) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.30) by $0.12. On average, equities research analysts predict that Pure Storage will post ($0.94) EPS for the current year.

Pure Storage Inc is a United States-based flash enterprise storage array company. The Company enables the deployment of flash in the data center. The Pure Storage FlashArray is ideal for high performance workloads, including server virtualization, desktop virtualization (NYSE:PSTG), database (OLTP, real-time analytics), and cloud computing. Its application includes VMware, Virtual Desktop Infrastructure (VDI), Oracle Database and structured query language (SQL) Server. Its vSphere Web Client plugin enables complete management of storage within VMware: automatically create, expand or shrink datastores, see array-side capacity and performance of each datastore, and understand real storage usage through deduplication.

12 Month Chart for NYSE:PSTG

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