Pure Storage Q1 EPS Forecast Increased by Zacks Research

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) - Zacks Research upped their Q1 2028 earnings per share (EPS) estimates for shares of Pure Storage in a research note issued on Wednesday, September 17th. Zacks Research analyst Team now expects that the technology company will post earnings per share of $0.09 for the quarter, up from their previous forecast 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 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 company had revenue of $861.00 million during the quarter, compared to analysts' expectations of $845.78 million. Pure Storage had a return on equity of 11.34% and a net margin of 4.15%.Pure Storage's revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.44 EPS. Pure Storage has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS.

Several other equities analysts have also recently weighed in on PSTG. Wedbush raised their price objective on Pure Storage from $70.00 to $80.00 and gave the company an "outperform" rating in a report on Thursday, August 28th. Raymond James Financial lifted their price target on Pure Storage from $76.00 to $88.00 and gave the stock an "outperform" rating in a report on Thursday, August 28th. Guggenheim reiterated a "buy" rating and set a $93.00 price target on shares of Pure Storage in a report on Thursday, August 28th. UBS Group lifted their price target on Pure Storage from $50.00 to $55.00 and gave the stock a "sell" rating in a report on Thursday, August 28th. Finally, Needham & Company LLC lifted their price target on Pure Storage from $75.00 to $85.00 and gave the stock a "buy" rating in a report on Thursday, August 28th. Fourteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $77.39.

Pure Storage Trading Up 0.2%

Shares of NYSE PSTG traded up $0.15 during mid-day trading on Friday, hitting $88.02. The company had a trading volume of 2,435,683 shares, compared to its average volume of 2,905,550. The company has a market capitalization of $28.93 billion, a PE ratio of 214.68, a price-to-earnings-growth ratio of 8.16 and a beta of 1.20. The firm has a 50-day simple moving average of $65.75 and a two-hundred day simple moving average of $55.65. Pure Storage has a one year low of $34.51 and a one year high of $88.55.

Insider Activity

In other Pure Storage news, CAO Mona Chu sold 17,500 shares of the business's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $76.51, for a total transaction of $1,338,925.00. Following the sale, the chief accounting officer owned 138,899 shares of the company's stock, valued at approximately $10,627,162.49. The trade was a 11.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Ajay Singh sold 22,601 shares of the business's stock in a transaction 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 sale, the insider directly owned 261,465 shares in the company, valued at approximately $14,498,234.25. This represents a 7.96% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 645,360 shares of company stock valued at $41,741,022. 5.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Pure Storage

Hedge funds and other institutional investors have recently made changes to their positions in the business. McIlrath & Eck LLC bought a new stake in Pure Storage in the 4th quarter worth about $25,000. Mechanics Financial Corp purchased a new stake in shares of Pure Storage during the 2nd quarter valued at approximately $25,000. True Wealth Design LLC lifted its stake 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 valued at $32,000 after buying an additional 439 shares in the last quarter. SouthState Corp lifted its stake in shares of Pure Storage by 474.8% during the 2nd quarter. SouthState Corp now owns 592 shares of the technology company's stock valued at $34,000 after buying an additional 489 shares in the last quarter. Finally, REAP Financial Group LLC lifted its stake in Pure Storage by 49.0% in the 2nd quarter. REAP Financial Group LLC now owns 611 shares of the technology company's stock worth $35,000 after purchasing an additional 201 shares in the last quarter. 83.42% of the stock is 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.