Pure Storage (NYSE:PSTG) Given New $81.00 Price Target at Barclays

Pure Storage (NYSE:PSTG) had its price objective hoisted by Barclays from $77.00 to $81.00 in a research report released on Thursday morning,Benzinga reports. The firm currently has an equal weight rating on the technology company’s stock.

Several other equities analysts also recently issued reports on PSTG. Susquehanna set a $105.00 price objective on shares of Pure Storage in a research note on Wednesday, December 3rd. Citigroup decreased their target price on Pure Storage from $105.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, February 17th. Morgan Stanley set a $83.00 price target on Pure Storage in a research note on Wednesday, December 3rd. Lake Street Capital lifted their price target on Pure Storage from $80.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, December 3rd. Finally, Wells Fargo & Company decreased their price objective on Pure Storage from $100.00 to $90.00 and set an “overweight” rating for the company in a report on Thursday. Twelve research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $94.32.

Pure Storage Stock Down 10.3%

Shares of PSTG opened at $66.00 on Thursday. The stock has a 50 day moving average price of $70.45 and a 200 day moving average price of $77.44. The company has a market capitalization of $21.79 billion, a price-to-earnings ratio of 120.00, a price-to-earnings-growth ratio of 6.45 and a beta of 1.27. Pure Storage has a 52-week low of $34.51 and a 52-week high of $100.59.

Pure Storage (NYSE:PSTG) last released its quarterly earnings data on Tuesday, December 2nd. The technology company reported $0.58 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.58. Pure Storage had a net margin of 5.14% and a return on equity of 14.69%. The company had revenue of $964.45 million for the quarter, compared to analysts’ expectations of $955.60 million. During the same quarter last year, the company earned $0.50 earnings per share. The firm’s revenue for the quarter was up 16.1% on a year-over-year basis. On average, equities analysts anticipate that Pure Storage will post 0.44 EPS for the current fiscal year.

Insider Activity at Pure Storage

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

Institutional Trading of Pure Storage

Hedge funds have recently bought and sold shares of the company. Integrated Wealth Concepts LLC acquired a new position in Pure Storage in the 1st quarter valued at $541,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Pure Storage by 129.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,742 shares of the technology company’s stock valued at $387,000 after purchasing an additional 4,926 shares during the period. Goldman Sachs Group Inc. increased its stake in Pure Storage by 109.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,137,939 shares of the technology company’s stock valued at $50,377,000 after purchasing an additional 595,307 shares during the last quarter. Empowered Funds LLC lifted its position in Pure Storage by 4.2% during the first quarter. Empowered Funds LLC now owns 4,790 shares of the technology company’s stock worth $212,000 after buying an additional 194 shares during the period. Finally, D.A. Davidson & CO. boosted its stake in Pure Storage by 9.6% in the 2nd quarter. D.A. Davidson & CO. now owns 7,672 shares of the technology company’s stock worth $442,000 after buying an additional 672 shares during the last quarter. Institutional investors and hedge funds own 83.42% of the company’s stock.

More Pure Storage News

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

• Positive Sentiment: Q4 beat and strong guidance — PSTG reported its first $1B quarter, revenue up ~20% year/year, adjusted EPS above estimates, and Q1/FY27 revenue guidance ahead of Street expectations; this underpins the re-rating opportunity tied to durable hyperscale momentum. PSTG Beats on Q4 Earnings & Sales
• Positive Sentiment: Strategic rebrand and acquisition — the company rebranded to “Everpure” and announced a deal to buy 1touch to add data discovery/semantic/context/security capabilities, signaling a shift from hardware-centric storage toward data intelligence/AI-enabled services. That strategy can expand addressable market and margin optionality. Everpure Rebrand And 1touch Deal
• Positive Sentiment: Analyst support — Barclays raised its price target to $81 (equal-weight) and Wedbush reiterated an Outperform, providing institutional validation that some firms see upside from the strategic shift and beat. Barclays PT Raise Wedbush Reiterates Outperform
• Neutral Sentiment: Corporate disclosure — company posted the formal press release, slide deck and earnings-call transcript detailing results, RPO growth >40%, and strategy execution; useful for due diligence but not an immediate directional catalyst on its own. Earnings PR Slide Deck
• Negative Sentiment: Conflicting sell-side view — UBS raised its price target modestly to $63 but kept a “sell” rating, which supplies a nearby low anchor for sellers and may amplify downside pressure into the stock. UBS PT Raise
• Negative Sentiment: Valuation/technical headwinds and heavy volume — PSTG trades at a high P/E, sits below its 50- and 200-day moving averages, and is seeing elevated volume today, all of which can accelerate downward moves as investors lock in gains after the earlier post-earnings rally.

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.