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Pure Storage (NYSE:PSTG – Free Report) had its target price boosted by Evercore ISI from $70.00 to $80.00 in a report published on Thursday,Benzinga reports. They currently have an outperform rating on the technology company’s stock.
PSTG has been the subject of a number of other research reports. Wedbush reissued an “outperform” rating and set a $70.00 price target on shares of Pure Storage in a research report on Thursday, May 29th. JPMorgan Chase & Co. lowered their price target on Pure Storage from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Thursday, May 29th. Citigroup boosted their price objective on Pure Storage from $70.00 to $81.00 and gave the stock a “buy” rating in a research note on Thursday. Needham & Company LLC boosted their price objective on Pure Storage from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Morgan Stanley assumed coverage on Pure Storage in a research note on Thursday, August 21st. They set an “equal weight” rating and a $60.00 price objective on the stock. Fourteen investment 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’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $76.39.
Get Our Latest Stock Report on PSTG
Pure Storage Trading Up 32.4%
PSTG stock opened at $80.61 on Thursday. The stock has a 50-day moving average price of $57.47 and a two-hundred day moving average price of $53.47. Pure Storage has a 12-month low of $34.51 and a 12-month high of $80.68. The company has a market cap of $26.34 billion, a PE ratio of 196.60, a price-to-earnings-growth ratio of 6.44 and a beta of 1.07.
Pure Storage (NYSE:PSTG – Get Free Report) last posted its quarterly earnings results on Wednesday, August 27th. The technology company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.04. Pure Storage had a return on equity of 11.33% and a net margin of 4.15%.The firm had revenue of $861.00 million during the quarter, compared to the consensus estimate of $845.78 million. During the same quarter in the previous year, the business earned $0.44 earnings per share. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. Pure Storage has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. Equities analysts forecast that Pure Storage will post 0.44 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, CRO Dan Fitzsimons sold 6,000 shares of the business’s stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $51.65, for a total value of $309,900.00. Following the transaction, the executive owned 75,965 shares in the company, valued at approximately $3,923,592.25. The trade was a 7.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Ajay Singh sold 22,601 shares of the business’s stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $55.45, for a total value of $1,253,225.45. Following the completion of the transaction, the insider owned 261,465 shares in the company, valued at approximately $14,498,234.25. This trade represents a 7.96% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 542,094 shares of company stock worth $32,367,537. 5.60% of the stock is owned by insiders.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the business. Orion Porfolio Solutions LLC lifted its stake in shares of Pure Storage by 123.7% in the second quarter. Orion Porfolio Solutions LLC now owns 11,660 shares of the technology company’s stock worth $671,000 after acquiring an additional 6,448 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in Pure Storage by 0.7% during the second quarter. Thrivent Financial for Lutherans now owns 73,176 shares of the technology company’s stock valued at $4,213,000 after buying an additional 511 shares in the last quarter. Newbridge Financial Services Group Inc. raised its stake in Pure Storage by 39.4% during the second quarter. Newbridge Financial Services Group Inc. now owns 1,627 shares of the technology company’s stock valued at $94,000 after buying an additional 460 shares in the last quarter. Advisory Services Network LLC raised its stake in Pure Storage by 12.3% during the second quarter. Advisory Services Network LLC now owns 13,799 shares of the technology company’s stock valued at $821,000 after buying an additional 1,511 shares in the last quarter. Finally, State of Wyoming acquired a new stake in Pure Storage during the second quarter valued at approximately $87,000. Institutional investors and hedge funds own 83.42% of the company’s stock.
Pure Storage Company Profile
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.
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