Pure Storage FY2026 EPS Forecast Boosted by Zacks Research

Key Points

• Analysts at Zacks Research have increased their FY2026 earnings estimate for Pure Storage to $0.49 per share from $0.46, with a consensus estimate of $0.44 for the current full year.
• Following recent earnings results, Pure Storage's revenue rose by 12.7% year-over-year, reaching $861 million, surpassing estimates by $15 million.
• Most analysts rate Pure Storage stock as a "Moderate Buy," with a consensus price target of $77.39, reflecting strong positive sentiment among thirteen analysts.

Pure Storage, Inc. (NYSE:PSTG - Free Report) - Analysts at Zacks Research upped their FY2026 earnings estimates for shares of Pure Storage in a note issued to investors on Wednesday, September 17th. Zacks Research analyst Team now expects that the technology company will earn $0.49 per share for the year, up from their previous estimate of $0.46. The consensus estimate for Pure Storage's current full-year earnings is $0.44 per share. Zacks Research also issued estimates for Pure Storage's Q1 2027 earnings at $0.06 EPS, Q3 2027 earnings at $0.22 EPS, Q4 2027 earnings at $0.27 EPS, FY2027 earnings at $0.68 EPS and FY2028 earnings at $0.82 EPS.

Pure Storage (NYSE:PSTG - Get Free Report) last posted its earnings results on Wednesday, August 27th. The technology company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.39 by $0.04. Pure Storage had a net margin of 4.15% and a return on equity of 11.34%. The firm had revenue of $861.00 million during the quarter, compared to analysts' expectations of $845.78 million. During the same quarter in the prior year, the firm earned $0.44 EPS. Pure Storage's quarterly revenue was up 12.7% on a year-over-year basis. Pure Storage has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS.

Several other research analysts have also recently issued reports on PSTG. Needham & Company LLC increased their price objective on shares of Pure Storage from $75.00 to $85.00 and gave the company a "buy" rating in a report on Thursday, August 28th. Citigroup increased their price objective on shares of Pure Storage from $70.00 to $81.00 and gave the company a "buy" rating in a report on Thursday, August 28th. Cowen reiterated a "buy" rating on shares of Pure Storage in a report on Thursday, August 28th. Barclays increased their price objective on shares of Pure Storage from $57.00 to $70.00 and gave the company an "equal weight" rating in a report on Friday, August 29th. Finally, Guggenheim reiterated a "buy" rating and issued a $93.00 price objective on shares of Pure Storage in a report on Thursday, August 28th. Fourteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $77.39.

Pure Storage Trading Up 0.8%

NYSE PSTG opened at $87.72 on Monday. The company has a 50-day moving average price of $65.75 and a two-hundred day moving average price of $55.65. The stock has a market cap of $28.83 billion, a price-to-earnings ratio of 213.96, a price-to-earnings-growth ratio of 8.16 and a beta of 1.20. Pure Storage has a 52 week low of $34.51 and a 52 week high of $88.01.

Hedge Funds Weigh In On Pure Storage

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bank Pictet & Cie Europe AG lifted its holdings in Pure Storage by 23.3% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 9,201 shares of the technology company's stock valued at $565,000 after purchasing an additional 1,740 shares during the last quarter. Formidable Asset Management LLC bought a new position in Pure Storage during the 4th quarter valued at about $201,000. Toronto Dominion Bank lifted its holdings in Pure Storage by 1.1% during the 4th quarter. Toronto Dominion Bank now owns 40,705 shares of the technology company's stock valued at $2,500,000 after purchasing an additional 429 shares during the last quarter. Forum Financial Management LP lifted its holdings in Pure Storage by 8.5% during the 4th quarter. Forum Financial Management LP now owns 4,523 shares of the technology company's stock valued at $278,000 after purchasing an additional 353 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in Pure Storage by 135.5% during the 4th quarter. Mackenzie Financial Corp now owns 131,027 shares of the technology company's stock valued at $8,049,000 after purchasing an additional 75,378 shares during the last quarter. 83.42% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Pure Storage news, insider John Colgrove sold 198,749 shares of the firm's stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $60.32, for a total value of $11,988,539.68. Following the sale, the insider directly owned 500,000 shares in the company, valued at $30,160,000. This trade represents a 28.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John Francis Murphy sold 6,959 shares of the firm's stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $56.17, for a total transaction of $390,887.03. Following the transaction, the director directly owned 19,706 shares of the company's stock, valued at $1,106,886.02. The trade was a 26.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 545,360 shares of company stock worth $33,008,022 in the last ninety days. 5.60% of the stock is owned by insiders.

About Pure Storage

Pure Storage, Inc engages in the provision of data storage and management technologies, products, and services in the United States and internationally. Its Purity software is shared across its products and provides enterprise-class data services, such as always-on data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object.

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