Pure Storage - PSTG Stock Forecast, Price & News

15 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Pure Storage in the last twelve months. There are currently 3 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 "buy" PSTG shares.
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15 analysts have issued twelve-month price targets for Pure Storage's shares. Their PSTG share price forecasts range from $27.00 to $47.00. On average, they expect the company's stock price to reach $36.68 in the next year. This suggests a possible upside of 43.8% from the stock's current price.
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Pure Storage's stock was trading at $26.76 at the start of the year. Since then, PSTG stock has decreased by 4.7% and is now trading at $25.51.
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Pure Storage saw a decrease in short interest in the month of March. As of March 15th, there was short interest totaling 21,460,000 shares, a decrease of 27.6% from the February 28th total of 29,640,000 shares. Based on an average daily trading volume, of 5,310,000 shares, the days-to-cover ratio is presently 4.0 days. Approximately 7.6% of the shares of the company are short sold.
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The company is scheduled to release its next quarterly earnings announcement on Wednesday, June 7th 2023.
View our PSTG earnings forecast.

Pure Storage, Inc. (NYSE:PSTG) posted its quarterly earnings results on Wednesday, March, 1st. The technology company reported $0.27 earnings per share for the quarter, beating analysts' consensus estimates of $0.10 by $0.17. The technology company had revenue of $810.21 million for the quarter, compared to analysts' expectations of $811.30 million. Pure Storage had a net margin of 2.65% and a trailing twelve-month return on equity of 17.48%.

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

Pure Storage updated its first quarter 2024 earnings guidance on Thursday, March, 2nd. The company provided earnings per share (EPS) guidance of for the period. The company issued revenue guidance of $560.00 million-$560.00 million, compared to the consensus revenue estimate of $679.85 million.

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."

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 $25.51.

Pure Storage (NYSE:PSTG) has a market capitalization of $7.72 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 4,200 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.