Why Pure Storage Was Rallying Today
Shares of Pure Storage (NYSE: PSTG) were on the rise today, up 6.4% as of 2:06 p.m. EST. The company, which makes storage-related software and hardware for enterprise, hybrid, and cloud-data centers, got a lift today after rival (NASDAQ: NTAP) reported better-than-expected earnings and guidance last night.
Pure Storage will report after market close today, so investors may be trying to get in ahead of more good news.
The enterprise-storage industry has been in a bad slump for the past year to 18 months; however, NetApp's better-than-feared results and guidance for some quarter-over-quarter improvements seem to indicate the industry is troughing and may be turning up.
Source Fool.com
NetApp Inc. Stock
€106.60
1.500%
With 9 Buy predictions and only 2 Sell predictions the community sentiment for the stock is positive.
On the other hand, the target price of 99 € is below the current price of 106.6 € for NetApp Inc., so the potential is actually -7.13%.
