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
€95.59
1.000%
We see a rather positive sentiment for NetApp Inc. with 8 Buy predictions and 2 Sell predictions.
However, we have a potential of -4.8% for NetApp Inc. as the target price of 91 € is below the current price of 95.59 €.
