Pure Storage (NYSE:PSTG) Price Target Raised to $63.00

Pure Storage (NYSE:PSTG) had its price objective hoisted by UBS Group from $60.00 to $63.00 in a research report report published on Thursday,Benzinga reports. They currently have a sell rating on the technology company’s stock.

A number of other research firms have also recently issued reports on PSTG. Wedbush reiterated an “outperform” rating and issued a $100.00 target price on shares of Pure Storage in a research report on Monday, February 23rd. Weiss Ratings restated a “hold (c)” rating on shares of Pure Storage in a report on Thursday, January 22nd. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price target on shares of Pure Storage in a research note on Wednesday, December 3rd. Wall Street Zen raised shares of Pure Storage from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Finally, Susquehanna set a $105.00 price target on shares of Pure Storage in a research report on Wednesday, December 3rd. Twelve analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $94.32.

Pure Storage Stock Performance

NYSE PSTG opened at $64.14 on Thursday. The stock has a market cap of $21.18 billion, a PE ratio of 116.61, a P/E/G ratio of 5.63 and a beta of 1.27. The firm has a 50-day moving average of $70.35 and a 200-day moving average of $77.61. 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 results on Wednesday, February 25th. The technology company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.04. Pure Storage had a return on equity of 14.69% and a net margin of 5.14%.The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the company posted $0.45 EPS. The firm’s quarterly revenue was up 20.4% on a year-over-year basis. As a group, analysts predict that Pure Storage will post 0.44 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $71.31, for a total value of $7,131,000.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Ajay Singh sold 7,178 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the insider directly owned 215,091 shares of the company’s stock, valued at approximately $14,441,209.74. This represents a 3.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 5.60% of the company’s stock.

Institutional Trading of Pure Storage

Hedge funds and other institutional investors have recently modified their holdings of the business. Winnow Wealth LLC bought a new stake in shares of Pure Storage during the third quarter valued at approximately $26,000. Provenance Wealth Advisors LLC bought a new stake in shares of Pure Storage during the 3rd quarter valued at $27,000. Sunbelt Securities Inc. lifted its position in shares of Pure Storage by 287.1% in the third quarter. Sunbelt Securities Inc. now owns 329 shares of the technology company’s stock valued at $28,000 after acquiring an additional 244 shares in the last quarter. Foster Dykema Cabot & Partners LLC purchased a new position in Pure Storage in the 3rd quarter worth approximately $28,000. Finally, Assetmark Inc. grew its stake in Pure Storage by 186.6% during the third quarter. Assetmark Inc. now owns 341 shares of the technology company’s stock valued at $29,000 after acquiring an additional 222 shares in the last quarter. 83.42% of the stock is owned by hedge funds and other institutional investors.

More Pure Storage News

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

• Positive Sentiment: Q4 results and guidance beat expectations — Pure Storage reported its first $1.06B quarter, non-GAAP EPS of $0.69 (beats) and raised FY27 revenue/profit outlook driven by hyperscaler demand. This underpins near-term growth expectations. Read More.
• Positive Sentiment: Rebrand and strategic M&A — The company rebranded as Everpure and signed a deal to acquire data‑intelligence firm 1touch, signaling a move from hardware-centric storage toward data management/AI capabilities that could expand TAM and gross-margin mix over time. Read More.
• Positive Sentiment: Bullish analyst/takeaway coverage — Several bullish pieces argue Everpure is capitalizing on hyperscaler AI demand, price increases and NAND procurement shifts that should protect margins and support FY27 growth (supporting a “buy” thesis). Read More.
• Neutral Sentiment: Investor presentations and management commentary — Transcripts from Susquehanna and Bernstein conferences and the Q4 earnings call provide detail on product positioning, hyperscaler traction and go‑to‑market; useful for modeling but not immediate catalysts. Read More. Read More.
• Negative Sentiment: Analyst/valuation concerns — Some commentary flags supply strains, pricing pressure in segments, and a high valuation (elevated P/E), which can make the stock sensitive to any execution slips. Zacks notes these risks despite the beat. Read More.
• Negative Sentiment: Mixed analyst ratings — Barclays raised its target to $81 (equal weight) while UBS raised its target to $63 but kept a sell rating; the split shows disagreement on whether rebrand/growth justify the current multiple, contributing to intraday selling. Read More. Read More.

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.