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Top-Rated StocksTop-Rated
NYSE:PSTG

Pure Storage (PSTG) Stock Forecast, Price & News

$34.58
-0.96 (-2.70%)
(As of 10:51 AM ET)
Compare
Today's Range
$34.54
▼
$35.59
50-Day Range
$33.49
▼
$40.18
52-Week Range
$22.14
▼
$40.50
Volume
355,759 shs
Average Volume
4.53 million shs
Market Capitalization
$10.79 billion
P/E Ratio
N/A
Dividend Yield
N/A
Price Target
$42.59
ProfileAnalyst RatingsChartCompetitorsEarningsFinancialsInsider TradesInstitutional OwnershipHeadlinesOptions ChainSEC FilingsShort InterestSocial MediaSustainability

Pure Storage MarketRank™ Forecast

Analyst Rating
Moderate Buy
2.93 Rating Score
Upside/​Downside
19.8% Upside
$42.59 Price Target
Short Interest
Healthy
2.21% of Shares Sold Short
Dividend Strength
N/A
Sustainability
-1.11
Upright™ Environmental Score
News Sentiment
1.23mentions of Pure Storage in the last 14 days
Based on 10 Articles This Week
Insider Trading
Selling Shares
$681,531 Sold Last Quarter
Proj. Earnings Growth
63.33%
From $0.30 to $0.49 Per Share

Overall MarketRank™

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

2.79 out of 5 stars

Computer And Technology Sector

75th out of 603 stocks

Computer Storage Devices Industry

1st out of 5 stocks

See Top Rated MarketRank™ Stocks Here

PSTG stock logo

About Pure Storage (NYSE:PSTG) Stock

Pure Storage, Inc., together with its subsidiaries, provides data storage technologies, products, and services in the United States and internationally. The company's Purity software is shared across its products and provides enterprise-class data services, such as data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object. Its products portfolio includes FlashArray for block-oriented storage, addressing databases, applications, virtual machines, and other traditional workloads; FlashArray//XL; and FlashArray//C, an all-QLC flash array. The company also provides FlashBlade, a solution for unstructured data workloads of various types; FlashStack that combines compute, network, and storage to provide an infrastructure platform; FlashRecover, an all-flash modern data protection solution; and AIRI, a full-stack AI-ready infrastructure. In addition, it offers evergreen storage subscription and Cloud Block Store, as well as Portworx a cloud-native Kubernetes data management solution It also offers technical and professional, training and education, and certification services. The company sells its products and subscription services through direct sales force and channel partners. The company was formerly known as OS76, Inc. and changed its name to Pure Storage, Inc. in January 2010. Pure Storage, Inc. was incorporated in 2009 and is headquartered in Mountain View, California.

PSTG Price History

PSTG Stock News Headlines

October 3, 2023 | americanbankingnews.com
Pure Storage, Inc. (NYSE:PSTG) Receives Consensus Recommendation of "Moderate Buy" from Brokerages
September 29, 2023 | finance.yahoo.com
Pure Storage (PSTG) Down 4% Since Last Earnings Report: Can It Rebound?
October 3, 2023 | Wall Street Fundamentals (Ad)
The "Plug and Play" Model Putting Online Giants to Shame
While e-commerce has been undergoing a turbulent time, a "simple" model has grown 4X faster than Amazon over the last 3 years. Applying this model to high-margin, recession-resistant businesses has shown to be profitable. But that's just the beginning of explaining the 400+% growth - and potential - of this "diamond in the rough."
September 22, 2023 | finance.yahoo.com
Pure Storage (PSTG) Gains 29.5% YTD: Will the Trend Continue?
September 10, 2023 | finance.yahoo.com
1 Overlooked Stock for a New AI and Cloud Computing Era
September 7, 2023 | seekingalpha.com
Pure Storage: ARR Gains Will Pave The Way For Further Stock Appreciation
September 6, 2023 | finance.yahoo.com
Pure Storage, Inc. (PSTG) Hit a 52 Week High, Can the Run Continue?
September 5, 2023 | finance.yahoo.com
Unveiling Pure Storage (PSTG)'s Value: Is It Really Priced Right? A Comprehensive Guide
October 3, 2023 | Wall Street Fundamentals (Ad)
The "Plug and Play" Model Putting Online Giants to Shame
While e-commerce has been undergoing a turbulent time, a "simple" model has grown 4X faster than Amazon over the last 3 years. Applying this model to high-margin, recession-resistant businesses has shown to be profitable. But that's just the beginning of explaining the 400+% growth - and potential - of this "diamond in the rough."
September 1, 2023 | msn.com
Evercore ISI Group Maintains Pure Storage Inc - (PSTG) Outperform Recommendation
August 31, 2023 | msn.com
Raymond James Maintains Pure Storage Inc - (PSTG) Strong Buy Recommendation
August 31, 2023 | markets.businessinsider.com
Wedbush Maintains Outperform Rating for Pure Storage: Here's What You Need To Know
August 31, 2023 | finance.yahoo.com
Pure Storage Stock Seesaws Despite Beat-And-Raise Earnings Report
August 31, 2023 | au.investing.com
Pure Storage reports Q2 beat, provides guidance
August 30, 2023 | seekingalpha.com
Pure Storage, Inc. 2024 Q2 - Results - Earnings Call Presentation
August 30, 2023 | markets.businessinsider.com
Pure Storage Announces Second Quarter Fiscal 2024 Financial Results
August 30, 2023 | markets.businessinsider.com
Pure Storage Q2 Earnings Summary
August 30, 2023 | finance.yahoo.com
Pure Storage Stock Rises On Clean Beat-And-Raise Earnings Report
August 29, 2023 | msn.com
B of A Securities Maintains Pure Storage Inc - (PSTG) Neutral Recommendation
August 22, 2023 | finance.yahoo.com
Pure Storage (PSTG) Gains 39.4% YTD: Will the Trend Continue?
August 21, 2023 | benzinga.com
Pure Storage Unusual Options Activity For August 21
August 15, 2023 | investing.com
NetApp & Pure Storage added to Evercore’s Tactical Outperform list
August 11, 2023 | markets.businessinsider.com
Analyst Expectations for Pure Storage's Future
August 9, 2023 | finance.yahoo.com
Pure Storage Announces Date and Conference Call Information for Second Quarter Fiscal 2024 Financial Results
August 1, 2023 | finance.yahoo.com
Portworx by Pure Storage Recognized as a Leader in Kubernetes Storage by GigaOm for Fourth Consecutive Year
July 24, 2023 | finance.yahoo.com
Here's Why Pure Storage (PSTG) is a Strong Momentum Stock
July 20, 2023 | benzinga.com
Pure Storage Chief Accounting Officer Trades Company's Stock
See More Headlines
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PSTG Company Calendar

Last Earnings
8/30/2023
Today
10/03/2023
Next Earnings (Estimated)
11/29/2023
Fiscal Year End
1/31/2024
Get Stock Alerts

Industry, Sector and Symbol

Stock Exchange
NYSE
Industry
Computer storage devices
Sub-Industry
N/A
Sector
Computer and Technology
Current Symbol
NYSE:PSTG
CUSIP
N/A
CIK
1474432
Web
www.purestorage.com
Phone
(800) 379-7873
Fax
650-625-9667
Employees
5,100
Year Founded
2009

Price Target and Rating

Average Stock Price Forecast
$42.59
High Stock Price Forecast
$50.00
Low Stock Price Forecast
$35.00
Forecasted Upside/Downside
+19.8%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.93
Research Coverage
14 Analysts

Profitability

EPS (Most Recent Fiscal Year)
($0.02)
Trailing P/E Ratio
N/A
Forward P/E Ratio
118.47
P/E Growth
7.99
Net Income
$73.07 million
Net Margins
-0.03%
Pretax Margin
1.01%
Return on Equity
8.97%
Return on Assets
2.56%

Debt

Debt-to-Equity Ratio
0.10
Current Ratio
1.70
Quick Ratio
1.66

Sales & Book Value

Annual Sales
$2.75 billion
Price / Sales
4.03
Cash Flow
$0.69 per share
Price / Cash Flow
51.24
Book Value
$3.22 per share
Price / Book
11.04

Miscellaneous

Outstanding Shares
311,960,000
Free Float
291,679,000
Market Cap
$11.09 billion
Optionable
Optionable
Beta
1.25

Social Links

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Get This Free Report

Key Executives

  • Mr. Charles H. Giancarlo (Age 65)
    Chairman & CEO
    Comp: $1.81M
  • Mr. John Colgrove (Age 60)
    Founder, Chief Visionary Officer & Director
    Comp: $1.2M
  • Mr. Kevan KryslerMr. Kevan Krysler (Age 52)
    Chief Financial Officer
    Comp: $1.25M
  • Mr. Ajay SinghMr. Ajay Singh (Age 65)
    Chief Product Officer
    Comp: $1.22M
  • Mr. Dan FitzSimonsMr. Dan FitzSimons (Age 56)
    Chief Revenue Officer
    Comp: $1.18M
  • Mr. John M. Hayes
    Founder & Advisor
  • Mr. Brad Tallman
    Chief Supply Chain Officer & Head of Operations
  • Ms. Mona ChuMs. Mona Chu (Age 50)
    VP & Chief Accounting Officer
  • Mr. Robert Lee
    VP & CTO
  • Mr. Sanjot Khurana
    VP of Investor Relations & Treasurer

Key Competitors

View All Competitors

Insiders & Institutions

View All Insider Transactions
View All Institutional Transactions













PSTG Stock - Frequently Asked Questions

Should I buy or sell Pure Storage stock right now?

14 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Pure Storage in the last year. There are currently 2 hold ratings, 11 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street equities research analysts is that investors should "moderate buy" PSTG shares.
View PSTG analyst ratings or view top-rated stocks.

What is Pure Storage's stock price forecast for 2023?

14 Wall Street research analysts have issued twelve-month price targets for Pure Storage's shares. Their PSTG share price forecasts range from $35.00 to $50.00. On average, they anticipate the company's stock price to reach $42.59 in the next year. This suggests a possible upside of 19.8% from the stock's current price.
View analysts price targets for PSTG or view top-rated stocks among Wall Street analysts.

How have PSTG shares performed in 2023?

Pure Storage's stock was trading at $26.76 on January 1st, 2023. Since then, PSTG stock has increased by 32.8% and is now trading at $35.54.
View the best growth stocks for 2023 here.

Are investors shorting Pure Storage?

Pure Storage saw a decrease in short interest in the month of September. As of September 15th, there was short interest totaling 6,900,000 shares, a decrease of 13.5% from the August 31st total of 7,980,000 shares. Based on an average daily volume of 3,410,000 shares, the days-to-cover ratio is currently 2.0 days.
View Pure Storage's Short Interest.

When is Pure Storage's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Wednesday, November 29th 2023.
View our PSTG earnings forecast.

How were Pure Storage's earnings last quarter?

Pure Storage, Inc. (NYSE:PSTG) announced its quarterly earnings data on Wednesday, August, 30th. The technology company reported $0.05 earnings per share for the quarter, topping analysts' consensus estimates of $0.01 by $0.04. The technology company earned $688.67 million during the quarter, compared to the consensus estimate of $681.27 million. Pure Storage had a positive trailing twelve-month return on equity of 8.97% and a negative net margin of 0.03%.

What ETFs hold Pure Storage's stock?

ETFs with the largest weight of Pure Storage (NYSE:PSTG) stock in their portfolio include First Trust Cloud Computing ETF (SKYY), ProShares Ultra Nasdaq Cloud Computing ETF (SKYU), iShares Future Cloud 5G and Tech ETF (IDAT), ERShares Entrepreneurs ETF (ENTR), Wedbush ETFMG Global Cloud Technology ETF (IVES), BlackRock Future Tech ETF (BTEK), Fidelity Cloud Computing ETF (FCLD) and Robo Global Artificial Intelligence ETF (THNQ).

What guidance has Pure Storage issued on next quarter's earnings?

Pure Storage issued an update on its third quarter 2024 earnings guidance on Wednesday, August, 30th. The company provided earnings per share (EPS) guidance of for the period. The company issued revenue guidance of $760.00 million-$760.00 million, compared to the consensus revenue estimate of $757.14 million.

What is Charles Giancarlo's approval rating as Pure Storage's CEO?

117 employees have rated Pure Storage Chief Executive Officer Charles Giancarlo on Glassdoor.com. Charles Giancarlo has an approval rating of 84% among the company's employees.

What other stocks do shareholders of Pure Storage own?

Based on aggregate information from My MarketBeat watchlists, some companies that other Pure Storage investors own include NVIDIA (NVDA), QUALCOMM (QCOM), Nutanix (NTNX), Micron Technology (MU), Advanced Micro Devices (AMD), Block (SQ), Cisco Systems (CSCO), Boeing (BA), Intel (INTC) and Marvell Technology (MRVL).

What is Pure Storage's stock symbol?

Pure Storage trades on the New York Stock Exchange (NYSE) under the ticker symbol "PSTG."

How do I buy shares of Pure Storage?

Shares of PSTG stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
Compare Top Brokerages Here.

What is Pure Storage's stock price today?

One share of PSTG stock can currently be purchased for approximately $35.54.

How much money does Pure Storage make?

Pure Storage (NYSE:PSTG) has a market capitalization of $11.09 billion and generates $2.75 billion in revenue each year. The technology company earns $73.07 million in net income (profit) each year or ($0.02) on an earnings per share basis.

How many employees does Pure Storage have?

The company employs 5,100 workers across the globe.

Does Pure Storage have any subsidiaries?
The following companies are subsidiares of Pure Storage: Compuverde, Portworx, Portworx Inc., Pure Crowns Sweden Holding AB, Pure Storage Australia Pty Ltd, Pure Storage Austria GmbH, Pure Storage Belgium BVBA, Pure Storage Bilgi Teknolojileri Limited Şirketi, Pure Storage Canada Limited, Pure Storage Czech Republic s.r.o., Pure Storage France SARL, Pure Storage Germany GmbH, Pure Storage HK Ltd, Pure Storage Holdings Inc., Pure Storage India Private Limited, Pure Storage International Inc., Pure Storage International Limited, Pure Storage Italy SRL, Pure Storage Japan KK, Pure Storage Korea Co Ltd, Pure Storage LLC, Pure Storage Ltd (UK), Pure Storage Malaysia SDN BHD, Pure Storage Mexico S. de R.L. de C.V., Pure Storage Netherlands BV, Pure Storage New Zealand Limited, Pure Storage Poland sp. z o.o., Pure Storage Singapore Pte Ltd, Pure Storage South Africa (Pty) Ltd, Pure Storage Spain SLU, Pure Storage Sweden AB, Pure Storage Switzerland GmbH, Pure Storage do Brasil Solucoes e Servicos de Armazenamento de Dados Ltda, and StorReduce.
Read More
How can I contact Pure Storage?

Pure Storage's mailing address is 650 CASTRO STREET SUITE 400, MOUNTAIN VIEW CA, 94041. The official website for the company is www.purestorage.com. The technology company can be reached via phone at (800) 379-7873, via email at ir@purestorage.com, or via fax at 650-625-9667.

This page (NYSE:PSTG) was last updated on 10/3/2023 by MarketBeat.com Staff

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