Some analysts were concerned that it's taking longer for Pure Storage to sell as the company aims to win larger deals.
The company is seeing larger deal sizes, which could mean tougher competition.
The struggles highlight some of the challenges of selling products to large companies -- that it cane take longer than expected, and that competition can be tough. It debuted on the New York Stock Exchange in October 2015, pricing shares at $17 each in its initial public offering.Piper Jaffray analysts moved their estimate down from $25 to $20, Stifel lowered its 12-month price target on Pure from $22 to $20, and KeyBanc Capital Markets pulled down its target from $30 to $25.
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