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Pure Storage (PSTG) Stock Forecast & Price Target

$59.77
-0.86 (-1.42%)
(As of 07/18/2024 ET)

Pure Storage - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Based on 20 Wall Street analysts who have issued ratings for Pure Storage in the last 12 months, the stock has a consensus rating of "Moderate Buy." Out of the 20 analysts, 1 has given a sell rating, 6 have given a hold rating, and 13 have given a buy rating for PSTG.

Consensus Price Target

$69.11
15.62% Upside
High Forecast$80.00
Average Forecast$69.11
Low Forecast$45.00

According to the 20 analysts' twelve-month price targets for Pure Storage, the average price target is $69.11. The highest price target for PSTG is $80.00, while the lowest price target for PSTG is $45.00. The average price target represents a forecasted upside of 15.62% from the current price of $59.77.

TypeCurrent Forecast
7/19/23 to 7/18/24
1 Month Ago
6/19/23 to 6/18/24
3 Months Ago
4/20/23 to 4/19/24
1 Year Ago
7/19/22 to 7/19/23
Consensus Rating
Moderate Buy
Moderate Buy
Moderate Buy
Buy
Strong Buy
0 Strong Buy rating(s)
0 Strong Buy rating(s)
0 Strong Buy rating(s)
1 Strong Buy rating(s)
Buy
13 Buy rating(s)
13 Buy rating(s)
13 Buy rating(s)
11 Buy rating(s)
Hold
6 Hold rating(s)
7 Hold rating(s)
3 Hold rating(s)
1 Hold rating(s)
Sell
1 Sell rating(s)
0 Sell rating(s)
0 Sell rating(s)
0 Sell rating(s)
Consensus Price Target$69.11$67.42$51.63$39.89
Forecasted Upside15.62% Upside13.72% Upside11.71% Upside37.83% Upside
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PSTG Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.
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PSTG Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.
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Pure Storage Stock vs. The Competition

TypePure StorageComputer and Technology CompaniesS&P 500
Consensus Rating Score
2.60
2.62
2.50
Consensus RatingModerate BuyModerate BuyModerate Buy
Predicted Upside16.65% Upside106.39% Upside8.20% Upside
News Sentiment RatingPositive News
Positive News
Positive News
DateBrokerageAnalyst NameActionRatingPrice TargetUpside/Downside on Report DateDetails
7/2/2024UBS Group
4 of 5 stars
D. Vogt
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DowngradeNeutral ➝ Sell$44.00 ➝ $47.00-28.23%
6/25/2024Guggenheim
3 of 5 stars
 Reiterated RatingBuy ➝ Buy$72.00 ➝ $72.00+14.34%
6/21/2024Susquehanna
2 of 5 stars
 Boost TargetPositive ➝ Positive$75.00 ➝ $80.00+24.59%
6/21/2024Needham & Company LLC
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 Reiterated RatingBuy ➝ Buy$80.00 ➝ $80.00+21.32%
6/12/2024Morgan Stanley
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 DowngradeOverweight ➝ Equal Weight$60.00 ➝ $60.00-9.86%
5/30/2024Northland Capmk
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N. Chokshi
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DowngradeStrong-Buy ➝ Hold
5/30/2024Citigroup
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 Boost TargetBuy ➝ Buy$65.00 ➝ $75.00+18.43%
5/30/2024Barclays
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 Boost TargetEqual Weight ➝ Equal Weight$51.00 ➝ $56.00-11.03%
5/30/2024Lake Street Capital
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 Boost TargetBuy ➝ Buy$48.00 ➝ $70.00+11.22%
5/30/2024JPMorgan Chase & Co.
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 Boost TargetOverweight ➝ Overweight$50.00 ➝ $75.00+18.76%
5/30/2024Wells Fargo & Company
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 Boost TargetOverweight ➝ Overweight$70.00 ➝ $75.00+17.26%
5/30/2024Evercore ISI
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 Boost TargetOutperform ➝ Outperform$65.00 ➝ $75.00+19.50%
5/30/2024Bank of America
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 Boost TargetNeutral ➝ Neutral$57.00 ➝ $68.00+8.35%
5/30/2024Raymond James
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 Boost TargetOutperform ➝ Outperform$63.00 ➝ $73.00+16.32%
5/30/2024Stifel Nicolaus
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 Boost TargetHold ➝ Hold$46.00 ➝ $65.00+3.36%
5/30/2024Northland Securities
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 DowngradeOutperform ➝ Market Perform$58.00 ➝ $68.00-0.07%
5/30/2024TD Cowen
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 Boost TargetBuy ➝ Buy$60.00 ➝ $80.00+26.98%
5/30/2024KeyCorp
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 Boost TargetOverweight ➝ Overweight$64.00 ➝ $79.00+25.40%
5/28/2024Wedbush
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 Reiterated RatingOutperform ➝ Outperform$50.00 ➝ $70.00+12.47%
8/31/2023Credit Suisse Group
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 Reiterated RatingOutperform ➝ Outperform$45.00+23.86%
6/16/2023Deutsche Bank Aktiengesellschaft
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 Boost Target$36.00 ➝ $42.00+10.21%
6/1/2023888
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 Reiterated RatingMaintains
12/1/2022Susquehanna Bancshares
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 Boost Target$40.00 ➝ $44.00+50.74%
9/6/2022The Goldman Sachs Group
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 Boost Target$44.00+52.94%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Thursday at 11:33 PM ET.

PSTG Forecast - Frequently Asked Questions

What is Pure Storage's forecast for 2024?

According to the research reports of 20 Wall Street equities research analysts, the average twelve-month stock price forecast for Pure Storage is $69.11, with a high forecast of $80.00 and a low forecast of $45.00.

Should I buy or sell Pure Storage stock right now?

20 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Pure Storage in the last twelve months. There is currently 1 sell rating, 6 hold ratings and 13 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "moderate buy" PSTG shares.

Does Pure Storage's stock price have much upside?

According to analysts, Pure Storage's stock has a predicted upside of 10.78% based on their 12-month stock forecasts.

Has Pure Storage been downgraded by Wall Street analysts recently?

Over the previous 90 days, Pure Storage's stock had 6 downgrades by analysts.

Do Wall Street analysts like Pure Storage more than its competitors?

Analysts like Pure Storage less than other "computer and technology" companies. The consensus rating score for Pure Storage is 2.60 while the average consensus rating score for "computer and technology" companies is 2.62. Learn more on how PSTG compares to other companies.


This page (NYSE:PSTG) was last updated on 7/18/2024 by MarketBeat.com Staff

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