Pure Storage's (PSTG) Hold (C) Rating Reaffirmed at Weiss Ratings

Pure Storage (NYSE:PSTG - Get Free Report)'s stock had its "hold (c)" rating reaffirmed by Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

A number of other research analysts have also recently commented on PSTG. Wedbush raised their price target on Pure Storage from $70.00 to $80.00 and gave the stock an "outperform" rating in a research report on Thursday, August 28th. Needham & Company LLC lifted their target price on Pure Storage from $85.00 to $100.00 and gave the company a "buy" rating in a research report on Friday, September 26th. Wells Fargo & Company lifted their target price on Pure Storage from $80.00 to $100.00 and gave the company an "overweight" rating in a research report on Friday, September 26th. Piper Sandler set a $92.00 target price on Pure Storage and gave the company an "overweight" rating in a research report on Thursday, September 25th. Finally, Barclays lifted their target price on Pure Storage from $57.00 to $70.00 and gave the company an "equal weight" rating in a research report on Friday, August 29th. Fourteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $81.06.

Pure Storage Stock Performance

Shares of NYSE PSTG opened at $93.15 on Wednesday. Pure Storage has a 52 week low of $34.51 and a 52 week high of $93.99. The stock has a market capitalization of $30.61 billion, a P/E ratio of 227.20, a PEG ratio of 8.17 and a beta of 1.22. The stock's fifty day moving average is $73.43 and its 200 day moving average is $58.88.

Pure Storage (NYSE:PSTG - Get Free Report) last issued its quarterly earnings results on Wednesday, August 27th. The technology company reported $0.43 EPS for the quarter, topping 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 company had revenue of $861.00 million for the quarter, compared to analysts' expectations of $845.78 million. During the same quarter last year, the business earned $0.44 earnings per share. Pure Storage's 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. Equities research analysts forecast that Pure Storage will post 0.44 earnings per share for the current year.

Insider Activity

In other news, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $87.33, for a total transaction of $8,733,000.00. Following the sale, the insider directly owned 300,000 shares of the company's stock, valued at approximately $26,199,000. This trade represents a 25.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Roxanne Taylor sold 3,000 shares of the company's stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $76.93, for a total value of $230,790.00. Following the completion of the sale, the director owned 16,343 shares in the company, valued at $1,257,266.99. The trade was a 15.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 650,070 shares of company stock valued at $42,844,896. 5.60% of the stock is currently owned by company insiders.

Institutional Trading of Pure Storage

A number of large investors have recently bought and sold shares of the business. Mechanics Financial Corp bought a new stake in shares of Pure Storage during the 2nd quarter valued at about $25,000. True Wealth Design LLC boosted its holdings in shares of Pure Storage by 402.8% during the 2nd quarter. True Wealth Design LLC now owns 548 shares of the technology company's stock worth $32,000 after buying an additional 439 shares in the last quarter. SouthState Corp grew its position in shares of Pure Storage by 474.8% during the 2nd quarter. SouthState Corp now owns 592 shares of the technology company's stock worth $34,000 after buying an additional 489 shares during the period. FNY Investment Advisers LLC increased its stake in shares of Pure Storage by 5,233.3% in the 1st quarter. FNY Investment Advisers LLC now owns 800 shares of the technology company's stock valued at $35,000 after acquiring an additional 785 shares in the last quarter. Finally, REAP Financial Group LLC increased its stake in shares of Pure Storage by 49.0% in the 2nd quarter. REAP Financial Group LLC now owns 611 shares of the technology company's stock valued at $35,000 after acquiring an additional 201 shares in the last quarter. 83.42% of the stock is currently owned by institutional investors and hedge funds.

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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