Pure Storage, Inc. (NYSE:PSTG) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• Pure Storage, Inc. (NYSE:PSTG) has received an average recommendation of "Moderate Buy" from twenty ratings firms, with fourteen analysts issuing buy recommendations.
• Analysts have set an average 12-month price target for the stock at $77.11, with individual price targets ranging from $76 to $93.
• Following multiple insider transactions, company executives have sold over 542,094 shares of stock in the past 90 days, amounting to approximately $32.37 million.

Pure Storage, Inc. (NYSE:PSTG - Get Free Report) has been given an average recommendation of "Moderate Buy" by the twenty ratings firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and fourteen have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $77.1111.

Several equities research analysts have recently weighed in on the company. Evercore ISI 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. Guggenheim restated a "buy" rating and set a $93.00 price objective on shares of Pure Storage in a report on Thursday, August 28th. Bank of America raised their price objective on Pure Storage from $76.00 to $80.00 and gave the stock a "neutral" rating in a report on Thursday, August 28th. Citigroup raised their price objective on Pure Storage from $70.00 to $81.00 and gave the stock a "buy" rating in a report on Thursday. Finally, Wedbush raised their price objective on Pure Storage from $70.00 to $80.00 and gave the stock an "outperform" rating in a report on Thursday, August 28th.

Insider Transactions at Pure Storage

In other Pure Storage news, Director John Francis Murphy sold 11,234 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $55.13, for a total transaction of $619,330.42. Following the transaction, the director directly owned 21,930 shares in the company, valued at $1,209,000.90. This trade represents a 33.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CRO Dan Fitzsimons sold 6,000 shares of the firm's stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $51.65, for a total value of $309,900.00. Following the transaction, the executive owned 75,965 shares in the company, valued at $3,923,592.25. The trade was a 7.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 542,094 shares of company stock valued at $32,367,537. Company insiders own 5.60% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Pure Storage by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 33,268,006 shares of the technology company's stock valued at $1,915,572,000 after acquiring an additional 308,738 shares during the period. T. Rowe Price Investment Management Inc. increased its holdings in shares of Pure Storage by 25.9% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 9,075,944 shares of the technology company's stock valued at $401,793,000 after acquiring an additional 1,868,782 shares during the period. Geode Capital Management LLC increased its holdings in shares of Pure Storage by 1.7% in the 2nd quarter. Geode Capital Management LLC now owns 7,273,696 shares of the technology company's stock valued at $417,830,000 after acquiring an additional 123,320 shares during the period. William Blair Investment Management LLC increased its holdings in shares of Pure Storage by 112.9% in the 2nd quarter. William Blair Investment Management LLC now owns 4,926,836 shares of the technology company's stock valued at $283,687,000 after acquiring an additional 2,612,300 shares during the period. Finally, Norges Bank purchased a new position in shares of Pure Storage in the 2nd quarter valued at $225,203,000. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Pure Storage Stock Performance

Shares of NYSE PSTG opened at $77.48 on Tuesday. The business's 50 day moving average price is $58.48 and its 200-day moving average price is $53.41. Pure Storage has a fifty-two week low of $34.51 and a fifty-two week high of $80.68. The company has a market cap of $25.32 billion, a price-to-earnings ratio of 188.99, a PEG ratio of 8.49 and a beta of 1.20.

Pure Storage (NYSE:PSTG - Get Free Report) last issued its quarterly earnings results on Wednesday, August 27th. The technology company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.04. Pure Storage had a return on equity of 11.34% and a net margin of 4.15%.The firm 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 revenue for the quarter 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. Sell-side analysts predict that Pure Storage will post 0.44 earnings per share for the current year.

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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