Pure Storage, Inc. (NYSE:PSTG) Given Consensus Rating of "Moderate Buy" by Analysts

Key Points

• Pure Storage, Inc. has received a consensus rating of "Moderate Buy" from 21 analysts, with an average twelve-month price target of $88.56.
• The company's stock trades at $90.75 per share, up from a 12-month low of $34.51, and the latest quarterly earnings showed a revenue increase of 12.7% year-over-year to $861 million.
• Recent upgrades from various analysts include price targets of $105.00 from JPMorgan Chase & Co. and $110.00 from Citigroup.

Shares of Pure Storage, Inc. (NYSE:PSTG - Get Free Report) have earned an average recommendation of "Moderate Buy" from the twenty-one analysts that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $88.5556.

A number of equities research analysts have issued reports on PSTG shares. JPMorgan Chase & Co. upped their price objective on Pure Storage from $80.00 to $105.00 and gave the company an "overweight" rating in a research report on Thursday, October 16th. Citigroup upped their price objective on Pure Storage from $81.00 to $110.00 and gave the company a "buy" rating in a research report on Tuesday. Cowen restated a "buy" rating on shares of Pure Storage in a research report on Thursday, August 28th. Wall Street Zen upgraded Pure Storage from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. Finally, Wedbush increased their price target on Pure Storage from $70.00 to $80.00 and gave the stock an "outperform" rating in a report on Thursday, August 28th.

Pure Storage Trading Down 0.3%

Shares of Pure Storage stock opened at $90.75 on Wednesday. Pure Storage has a 12 month low of $34.51 and a 12 month high of $95.14. The stock has a 50 day moving average of $79.62 and a 200 day moving average of $61.80. The firm has a market cap of $29.82 billion, a PE ratio of 221.34, a PEG ratio of 8.39 and a beta of 1.22.

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

Insider Transactions at Pure Storage

In other Pure Storage news, insider Ajay Singh sold 7,014 shares of the firm's stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $85.85, for a total transaction of $602,151.90. Following the transaction, the insider directly owned 229,307 shares in the company, valued at $19,686,005.95. This trade represents a 2.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Mona Chu sold 9,091 shares of the firm's stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $84.91, for a total value of $771,916.81. Following the transaction, the chief accounting officer owned 107,353 shares in the company, valued at $9,115,343.23. The trade was a 7.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 743,111 shares of company stock valued at $51,703,009. Company insiders own 5.60% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PSTG. GAMMA Investing LLC increased its holdings in Pure Storage by 59.4% during the 1st quarter. GAMMA Investing LLC now owns 5,118 shares of the technology company's stock worth $227,000 after purchasing an additional 1,908 shares during the period. State of Alaska Department of Revenue increased its holdings in Pure Storage by 2.3% during the 1st quarter. State of Alaska Department of Revenue now owns 36,295 shares of the technology company's stock worth $1,606,000 after purchasing an additional 800 shares during the period. Oppenheimer & Co. Inc. increased its holdings in Pure Storage by 8.4% during the 1st quarter. Oppenheimer & Co. Inc. now owns 7,327 shares of the technology company's stock worth $324,000 after purchasing an additional 570 shares during the period. Asset Management One Co. Ltd. increased its holdings in Pure Storage by 4.0% during the 1st quarter. Asset Management One Co. Ltd. now owns 121,895 shares of the technology company's stock worth $5,396,000 after purchasing an additional 4,687 shares during the period. Finally, WoodTrust Financial Corp increased its holdings in Pure Storage by 2.1% during the 1st quarter. WoodTrust Financial Corp now owns 33,695 shares of the technology company's stock worth $1,492,000 after purchasing an additional 700 shares during the period. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Pure Storage Company Profile

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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