Q1 EPS Estimates for Pure Storage Boosted by Zacks Research

Pure Storage, Inc. (NYSE:PSTG) – Equities research analysts at Zacks Research lifted their Q1 2028 earnings estimates for shares of Pure Storage in a research report issued to clients and investors on Wednesday, September 17th. Zacks Research analyst Team now anticipates that the technology company will post earnings per share of $0.09 for the quarter, up from their prior forecast of $0.08. The consensus estimate for Pure Storage’s current full-year earnings is $0.44 per share. Zacks Research also issued estimates for Pure Storage’s Q2 2028 earnings at $0.16 EPS.

A number of other research analysts also recently commented on the company. Guggenheim reiterated a “buy” rating and set a $93.00 target price on shares of Pure Storage in a research report on Thursday, August 28th. Raymond James Financial increased their target price on Pure Storage from $76.00 to $88.00 and gave the company an “outperform” rating in a research report on Thursday, August 28th. Citigroup increased their target price on Pure Storage from $70.00 to $81.00 and gave the company a “buy” rating in a research report on Thursday, August 28th. Wedbush increased their target price on Pure Storage from $70.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, August 28th. Finally, Needham & Company LLC raised their price target on Pure Storage from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Fourteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Pure Storage has a consensus rating of “Moderate Buy” and an average price target of $77.39.

Pure Storage Stock Performance

NYSE PSTG opened at $87.72 on Friday. The company has a market capitalization of $28.67 billion, a P/E ratio of 213.96, a P/E/G ratio of 8.14 and a beta of 1.20. Pure Storage has a one year low of $34.51 and a one year high of $88.01. The stock has a 50 day moving average price of $65.75 and a 200-day moving average price of $55.58.

Pure Storage (NYSE:PSTG) last announced its quarterly earnings data 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 net margin of 4.15% and a return on equity of 11.34%. The business had revenue of $861.00 million during the quarter, compared to analyst estimates of $845.78 million. During the same period last year, the firm posted $0.44 EPS. The company’s revenue was up 12.7% on a year-over-year basis. Pure Storage has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS.

Insider Activity

In other news, Director John Francis Murphy sold 6,959 shares of the business’s stock in a transaction on Friday, July 11th. The shares were sold at an average price of $56.17, for a total transaction of $390,887.03. Following the completion of the sale, the director directly owned 19,706 shares of the company’s stock, valued at approximately $1,106,886.02. The trade was a 26.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Roxanne Taylor sold 3,000 shares of the company’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $76.93, for a total transaction of $230,790.00. Following the completion of the sale, the director directly owned 16,343 shares of the company’s stock, valued at approximately $1,257,266.99. This trade represents a 15.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 551,360 shares of company stock valued at $33,317,922. Insiders own 5.60% of the company’s stock.

Institutional Trading of Pure Storage

Hedge funds have recently added to or reduced their stakes in the business. McIlrath & Eck LLC purchased a new stake in Pure Storage in the fourth quarter worth about $25,000. Mechanics Financial Corp bought a new position in Pure Storage in the second quarter worth about $25,000. True Wealth Design LLC raised its holdings in Pure Storage by 402.8% in the second quarter. True Wealth Design LLC now owns 548 shares of the technology company’s stock worth $32,000 after purchasing an additional 439 shares in the last quarter. SouthState Corp raised its holdings in Pure Storage by 474.8% in the second quarter. SouthState Corp now owns 592 shares of the technology company’s stock worth $34,000 after purchasing an additional 489 shares in the last quarter. Finally, REAP Financial Group LLC raised its holdings in Pure Storage by 49.0% in the second quarter. REAP Financial Group LLC now owns 611 shares of the technology company’s stock worth $35,000 after purchasing an additional 201 shares in the last quarter. 83.42% of the stock is owned by hedge funds and other institutional investors.

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.