Pure Storage (PSTG) Expected to Announce Earnings on Wednesday

Pure Storage (NYSE:PSTG) will likely be releasing its Q1 2026 earnings data after the market closes on Wednesday, May 28th. Analysts expect Pure Storage to post earnings of $0.25 per share and revenue of $770.03 million for the quarter.

Pure Storage Stock Performance

Shares of NYSE PSTG opened at $56.54 on Wednesday. The business’s 50-day simple moving average is $46.81 and its 200-day simple moving average is $55.78. Pure Storage has a 52 week low of $34.51 and a 52 week high of $73.67. The firm has a market cap of $18.43 billion, a price-to-earnings ratio of 148.79, a P/E/G ratio of 5.12 and a beta of 1.05.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Bank of America lowered their target price on shares of Pure Storage from $77.00 to $73.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Evercore ISI lowered their price target on Pure Storage from $75.00 to $60.00 and set an “outperform” rating on the stock in a research report on Monday, April 28th. Citigroup lifted their price objective on Pure Storage from $55.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, May 16th. UBS Group increased their target price on Pure Storage from $47.00 to $50.00 and gave the company a “sell” rating in a research note on Thursday, February 27th. Finally, Piper Sandler lowered their target price on Pure Storage from $76.00 to $53.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $70.20.

Insider Transactions at Pure Storage

In other news, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $52.01, for a total value of $5,201,000.00. Following the completion of the sale, the insider now directly owns 801,959 shares in the company, valued at approximately $41,709,887.59. This trade represents a 11.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CRO Dan Fitzsimons sold 6,977 shares of the company’s stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $40.91, for a total transaction of $285,429.07. Following the transaction, the executive now owns 90,223 shares in the company, valued at approximately $3,691,022.93. This trade represents a 7.18% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 107,849 shares of company stock valued at $5,531,346. Corporate insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On Pure Storage

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PSTG. Empowered Funds LLC grew its stake in shares of Pure Storage by 4.2% during the first quarter. Empowered Funds LLC now owns 4,790 shares of the technology company’s stock valued at $212,000 after purchasing an additional 194 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Pure Storage by 129.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,742 shares of the technology company’s stock worth $387,000 after buying an additional 4,926 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in Pure Storage during the 1st quarter worth $541,000. Finally, Goldman Sachs Group Inc. boosted its position in Pure Storage by 109.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,137,939 shares of the technology company’s stock valued at $50,377,000 after buying an additional 595,307 shares during the last quarter. 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.