Pure Storage Reports Q2: Stock Soars, Analysts Revise Forecasts

Pure Storage Inc (NYSE:PSTG) shares rallied in early trading on Thursday, after the company reported upbeat fiscal second-quarter results.

PSTG shares are testing new highs. Get the scoop here.

Here are some analyst takeaways.

JPMorgan analyst Samik Chatterjee reiterated an Overweight rating, while raising the price target from $70 to $80.

Needham analyst Mike Cikos maintained a Buy rating, while lifting the price target from $75 to $85.

Check out other analyst stock ratings.

JPMorgan: Pure Storage reported revenue of $861 million, beating consensus of $846 million, "driven by robust broad broad-based demand across all segments," Chatterjee said in a note.

The company's gross margins came in at 72.1%, surpassing consensus of ...