Zacks Research Increases Earnings Estimates for Pure Storage

Key Points

• Zacks Research has raised its Q1 2028 earnings estimate for Pure Storage to $0.09 per share, up from $0.08.
• Analysts have increased their price targets for Pure Storage, with Citigroup raising its target from $70.00 to $81.00 and Needham & Company increasing theirs from $75.00 to $85.00.
• Insider selling has been notable, with approximately 551,360 shares sold by insiders valued at over $33 million in the last ninety days.

Pure Storage, Inc. (NYSE:PSTG - Free Report) - Investment analysts at Zacks Research boosted their Q1 2028 earnings per share estimates for Pure Storage in a research note issued on Wednesday, September 17th. Zacks Research analyst Team now anticipates that the technology company will earn $0.09 per share for the quarter, up from their previous estimate of $0.08. 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 Q2 2028 earnings at $0.16 EPS.

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, beating the consensus estimate of $0.39 by $0.04. The business had revenue of $861.00 million during the quarter, compared to the consensus estimate of $845.78 million. Pure Storage had a net margin of 4.15% and a return on equity of 11.34%. The firm's quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.44 EPS. Pure Storage has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS.

Several other equities research analysts have also recently weighed in on the stock. Bank of America boosted their price target on shares of Pure Storage from $76.00 to $80.00 and gave the stock a "neutral" rating in a research report on Thursday, August 28th. Raymond James Financial boosted their price target on Pure Storage from $76.00 to $88.00 and gave the stock an "outperform" rating in a research note on Thursday, August 28th. UBS Group raised their price target on shares of Pure Storage from $50.00 to $55.00 and gave the company a "sell" rating in a report on Thursday, August 28th. Cowen restated a "buy" rating on shares of Pure Storage in a research report on Thursday, August 28th. Finally, Northland Securities lifted their target price 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. Fourteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $77.39.

Pure Storage Stock Up 0.8%

NYSE:PSTG traded up $0.66 on Friday, hitting $87.72. The stock had a trading volume of 4,828,704 shares, compared to its average volume of 4,438,816. Pure Storage has a 52 week low of $34.51 and a 52 week high of $88.01. The business's fifty day moving average is $65.75 and its 200 day moving average is $55.65. The company has a market cap of $28.67 billion, a PE ratio of 213.96, a P/E/G ratio of 8.21 and a beta of 1.20.

Insider Transactions at Pure Storage

In other news, insider John Colgrove sold 198,749 shares of the business's stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $60.32, for a total value of $11,988,539.68. Following the transaction, the insider directly owned 500,000 shares in the company, valued at $30,160,000. The trade was a 28.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ajay Singh sold 22,601 shares of Pure Storage stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $55.45, for a total transaction of $1,253,225.45. Following the completion of the transaction, the insider directly owned 261,465 shares in the company, valued at approximately $14,498,234.25. The trade was a 7.96% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 551,360 shares of company stock worth $33,317,922. Company insiders own 5.60% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. boosted its position in Pure Storage by 34.7% during the second quarter. Osaic Holdings Inc. now owns 68,307 shares of the technology company's stock valued at $3,837,000 after purchasing an additional 17,614 shares during the last quarter. Orion Porfolio Solutions LLC boosted its stake in shares of Pure Storage by 123.7% in the second quarter. Orion Porfolio Solutions LLC now owns 11,660 shares of the technology company's stock valued at $671,000 after buying an additional 6,448 shares during the period. Thrivent Financial for Lutherans increased its holdings in Pure Storage by 0.7% in the 2nd quarter. Thrivent Financial for Lutherans now owns 73,176 shares of the technology company's stock worth $4,213,000 after purchasing an additional 511 shares in the last quarter. Newbridge Financial Services Group Inc. grew its position in shares of Pure Storage by 39.4% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 1,627 shares of the technology company's stock worth $94,000 after buying an additional 460 shares during the period. Finally, Advisory Services Network LLC boosted its position in shares of Pure Storage by 12.3% during the second quarter. Advisory Services Network LLC now owns 13,799 shares of the technology company's stock valued at $821,000 after buying an additional 1,511 shares during the last quarter. 83.42% of the stock is currently owned by institutional investors.

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.