Pure Storage (PSTG) Stock Forecast, Price & News

14 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Pure Storage in the last year. There are currently 1 hold rating, 12 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street analysts is that investors should "buy" PSTG shares.
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14 Wall Street research analysts have issued 12-month target prices for Pure Storage's stock. Their PSTG share price forecasts range from $31.00 to $47.00. On average, they predict the company's share price to reach $37.53 in the next twelve months. This suggests a possible upside of 30.3% from the stock's current price.
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Pure Storage's stock was trading at $26.76 at the beginning of 2023. Since then, PSTG stock has increased by 7.7% and is now trading at $28.81.
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Pure Storage saw a drop in short interest in April. As of April 30th, there was short interest totaling 9,130,000 shares, a drop of 25.7% from the April 15th total of 12,280,000 shares. Based on an average daily trading volume, of 5,260,000 shares, the short-interest ratio is presently 1.7 days.
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Pure Storage, Inc. (NYSE:PSTG) posted its quarterly earnings data on Tuesday, November, 23rd. The technology company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.12 by $0.10. The technology company had revenue of $562.74 million for the quarter, compared to analysts' expectations of $530.66 million. Pure Storage had a trailing twelve-month return on equity of 16.59% and a net margin of 2.65%. The firm's quarterly revenue was up 37.1% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.22) EPS.

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), Wedbush ETFMG Global Cloud Technology ETF (IVES), Fidelity Cloud Computing ETF (FCLD), ROBO Global Artificial Intelligence ETF (THNQ), BlackRock Future Tech ETF (BTEK) and ERShares Entrepreneurs ETF (ENTR).

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.

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).

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

Pure Storage's stock is owned by a number of retail and institutional investors. Top institutional investors include FMR LLC (14.73%), BlackRock Inc. (5.07%), Champlain Investment Partners LLC (4.67%), Price T Rowe Associates Inc. MD (4.57%), Atreides Management LP (2.36%) and State Street Corp (1.44%). Insiders that own company stock include Ajay Singh, Andrew William Fraser Brown, Anita M Sands, Dan Fitzsimons, Gregory Tomb, P Kevan Krysler, Roxanne Taylor and Scott Dietzen.
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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.
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One share of PSTG stock can currently be purchased for approximately $28.81.

Pure Storage (NYSE:PSTG) has a market capitalization of $8.87 billion and generates $2.75 billion in revenue each year. The technology company earns $73.07 million in net income (profit) each year or $0.21 on an earnings per share basis.

The company employs 5,100 workers across the globe.

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.