Pure Storage’s (PSTG) Outperform Rating Reiterated at Wedbush

Wedbush reaffirmed their outperform rating on shares of Pure Storage (NYSE:PSTG) in a report published on Monday morning,Benzinga reports. They currently have a $100.00 price objective on the technology company’s stock.

Other research analysts also recently issued research reports about the company. Citigroup reduced their price target on Pure Storage from $105.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, February 17th. Weiss Ratings reissued a “hold (c)” rating on shares of Pure Storage in a research note on Thursday, January 22nd. Northland Securities set a $77.00 target price on Pure Storage in a report on Wednesday, December 3rd. Evercore reiterated an “outperform” rating on shares of Pure Storage in a report on Wednesday, December 3rd. Finally, Susquehanna set a $105.00 price objective on shares of Pure Storage in a report on Wednesday, December 3rd. Twelve investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $94.47.

Pure Storage Stock Performance

NYSE:PSTG opened at $73.52 on Monday. Pure Storage has a fifty-two week low of $34.51 and a fifty-two week high of $100.59. The firm has a market cap of $24.27 billion, a PE ratio of 193.48, a price-to-earnings-growth ratio of 5.94 and a beta of 1.27. The business has a 50 day moving average price of $70.47 and a 200-day moving average price of $77.52.

Pure Storage (NYSE:PSTG) last posted its quarterly earnings results on Tuesday, December 2nd. The technology company reported $0.58 EPS for the quarter, meeting analysts’ consensus estimates of $0.58. The company had revenue of $964.45 million during the quarter, compared to analyst estimates of $955.60 million. Pure Storage had a net margin of 3.74% and a return on equity of 10.60%. The firm’s revenue was up 16.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.50 EPS. Research analysts predict that Pure Storage will post 0.44 EPS for the current year.

Insiders Place Their Bets

In other news, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $71.31, for a total transaction of $7,131,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ajay Singh sold 7,178 shares of the company’s stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $67.14, for a total transaction of $481,930.92. Following the completion of the transaction, the insider owned 215,091 shares in the company, valued at approximately $14,441,209.74. The trade was a 3.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PSTG. Norges Bank purchased a new stake in Pure Storage during the fourth quarter valued at approximately $265,327,000. Arrowstreet Capital Limited Partnership grew its position in shares of Pure Storage by 786.9% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 4,027,610 shares of the technology company’s stock valued at $337,554,000 after acquiring an additional 3,573,493 shares during the period. Atreides Management LP purchased a new stake in shares of Pure Storage in the 2nd quarter worth $204,552,000. Polar Capital Holdings Plc increased its stake in shares of Pure Storage by 90.5% in the 3rd quarter. Polar Capital Holdings Plc now owns 2,831,141 shares of the technology company’s stock worth $237,278,000 after purchasing an additional 1,345,207 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in Pure Storage by 62.7% in the 4th quarter. AQR Capital Management LLC now owns 3,414,715 shares of the technology company’s stock worth $228,820,000 after purchasing an additional 1,315,351 shares during the period. 83.42% of the stock is owned by institutional investors.

Key Pure Storage News

Here are the key news stories impacting Pure Storage this week:

• Positive Sentiment: Quarterly beat — Pure Storage reported $0.69 EPS vs. $0.65 consensus and revenue of $1.06B vs. $1.03B expected; management provided a press release and slide deck with details. Press Release Slide Deck
• Positive Sentiment: Q1 FY2027 revenue guide raised — the company guided Q1 revenue to $990M–$1.0B versus the $918.8M consensus, signaling near‑term demand strength in storage products and services.
• Positive Sentiment: Analyst support — Wedbush reiterated an Outperform rating, which can reinforce investor confidence after the beat and guidance. Wedbush Reiterates Outperform
• Neutral Sentiment: FY2027 revenue range solid but conservative — management issued FY revenue guidance of $4.3B–$4.4B roughly in line with the $4.3B consensus, giving limited incremental upside at the mid‑point.
• Neutral Sentiment: Strategic rebrand and M&A activity — the company is rebranding to “Everpure” and is acquiring data‑management startup 1touch; strategic moves that could expand addressable market but carry integration risk. Rebrand & 1touch acquisition
• Negative Sentiment: EPS guidance missing — the company did not provide explicit EPS guidance in the update (only revenue ranges were given), which leaves some earnings visibility uncertain and could limit multiple expansion until clarity returns.

About Pure Storage

Pure Storage, Inc (NYSE: PSTG) is a technology company that designs and sells data storage hardware and software for enterprise and cloud environments. The company is best known for its all-flash storage arrays that are engineered to deliver high performance, low latency and simplified management compared with traditional disk-based systems. Its product portfolio includes purpose-built arrays and software aimed at transactional databases, virtualized infrastructures, analytics and large-scale file/object workloads.

Key product and software offerings include the FlashArray family for block storage and FlashBlade for file and object workloads, together with Purity, the company’s storage operating environment.