Pure Storage, Inc. (NYSE:PSTG) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• Pure Storage, Inc. (NYSE:PSTG) has been given an average rating of "Moderate Buy" from 20 research firms, with 14 analysts rating it as a buy and only one as a sell.
• The average 12-month price target for Pure Storage among analysts is $81.06, with Barclays and JPMorgan raising their targets recently to $70.00 and $80.00, respectively.
• In its latest earnings report, Pure Storage reported earnings per share of $0.43, exceeding expectations, with a revenue increase of 12.7% year-over-year, bringing total revenue to $861 million.

Pure Storage, Inc. (NYSE:PSTG - Get Free Report) has received an average rating of "Moderate Buy" from the twenty research firms that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $81.0556.

PSTG has been the subject of a number of research reports. Barclays raised their price objective on Pure Storage from $57.00 to $70.00 and gave the company an "equal weight" rating in a research note on Friday, August 29th. Needham & Company LLC lifted their price target on shares of Pure Storage from $85.00 to $100.00 and gave the company a "buy" rating in a research report on Friday. Raymond James Financial upped their price objective on shares of Pure Storage from $76.00 to $88.00 and gave the stock an "outperform" rating in a report on Thursday, August 28th. Northland Securities raised their price objective on shares of Pure Storage from $63.00 to $71.00 and gave the company a "market perform" rating in a research note on Thursday, August 28th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Pure Storage from $70.00 to $80.00 and gave the stock an "overweight" rating in a research report on Thursday, August 28th.

Pure Storage Stock Down 1.2%

Shares of NYSE PSTG opened at $82.46 on Friday. The firm has a market cap of $27.10 billion, a PE ratio of 201.13, a P/E/G ratio of 7.75 and a beta of 1.20. The company's fifty day simple moving average is $68.71 and its 200 day simple moving average is $56.83. Pure Storage has a 12-month low of $34.51 and a 12-month high of $89.10.

Pure Storage (NYSE:PSTG - Get Free Report) last announced its quarterly earnings data on Wednesday, August 27th. The technology company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.04. The firm had revenue of $861.00 million for the quarter, compared to analyst estimates of $845.78 million. Pure Storage had a net margin of 4.15% and a return on equity of 11.34%. The business's quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.44 earnings per share. Pure Storage has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. On average, equities analysts predict that Pure Storage will post 0.44 earnings per share for the current year.

Insider Transactions at Pure Storage

In related news, insider Ajay Singh sold 7,014 shares of the stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $85.85, for a total value of $602,151.90. Following the completion of the sale, the insider directly owned 229,307 shares of the company's stock, valued at approximately $19,686,005.95. This represents a 2.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John Colgrove sold 100,000 shares of the firm's stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $87.33, for a total value of $8,733,000.00. Following the transaction, the insider owned 300,000 shares in the company, valued at approximately $26,199,000. This trade represents a 25.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 663,580 shares of company stock valued at $43,326,205. Corporate insiders own 5.60% of the company's stock.

Institutional Trading of Pure Storage

Institutional investors and hedge funds have recently made changes to their positions in the company. LPL Financial LLC boosted its holdings in Pure Storage by 22.6% during the first quarter. LPL Financial LLC now owns 118,368 shares of the technology company's stock worth $5,240,000 after purchasing an additional 21,812 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Pure Storage by 13.4% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 275,796 shares of the technology company's stock worth $12,209,000 after buying an additional 32,611 shares during the last quarter. Crumly & Associates Inc. bought a new position in shares of Pure Storage in the second quarter valued at approximately $242,000. Michael S. Ryan Inc. bought a new position in shares of Pure Storage in the second quarter valued at approximately $254,000. Finally, D.A. Davidson & CO. increased its position in shares of Pure Storage by 7.7% during the first quarter. D.A. Davidson & CO. now owns 7,000 shares of the technology company's stock valued at $310,000 after acquiring an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 83.42% of the company's stock.

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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