Pure Storage (NYSE:PSTG) Upgraded at Wall Street Zen

Pure Storage (NYSE:PSTG) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday.

A number of other research analysts have also commented on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Pure Storage from $110.00 to $105.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 3rd. Oppenheimer began coverage on Pure Storage in a research report on Monday, November 17th. They set an “outperform” rating and a $120.00 price target on the stock. Northland Securities set a $77.00 price objective on Pure Storage in a report on Wednesday, December 3rd. Lake Street Capital lifted their target price on Pure Storage from $80.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, December 3rd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Pure Storage in a report on Thursday, January 22nd. 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’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $94.47.

Pure Storage Stock Performance

Shares of PSTG opened at $73.93 on Friday. Pure Storage has a one year low of $34.51 and a one year high of $100.59. The stock’s fifty day moving average is $70.39 and its 200-day moving average is $77.12. The firm has a market capitalization of $24.41 billion, a price-to-earnings ratio of 194.54, a price-to-earnings-growth ratio of 5.74 and a beta of 1.27.

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

Insider Transactions at Pure Storage

In other Pure Storage news, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $71.31, for a total transaction of $7,131,000.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Ajay Singh sold 7,178 shares of the firm’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 of the company’s stock, valued at approximately $14,441,209.74. The trade was a 3.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in Pure Storage by 1.9% during the 3rd quarter. Vanguard Group Inc. now owns 33,891,025 shares of the technology company’s stock worth $2,840,407,000 after acquiring an additional 623,019 shares during the period. State Street Corp boosted its holdings in shares of Pure Storage by 0.8% during the fourth quarter. State Street Corp now owns 10,953,501 shares of the technology company’s stock worth $733,994,000 after purchasing an additional 88,583 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Pure Storage by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 7,716,158 shares of the technology company’s stock worth $515,972,000 after purchasing an additional 207,317 shares during the period. Atreides Management LP increased its stake in Pure Storage by 15.4% in the 3rd quarter. Atreides Management LP now owns 4,098,376 shares of the technology company’s stock valued at $343,485,000 after buying an additional 545,890 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its position in Pure Storage by 786.9% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 4,027,610 shares of the technology company’s stock worth $337,554,000 after buying an additional 3,573,493 shares in the last quarter. Hedge funds and other institutional investors 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: AI-driven flash demand is boosting margins and the company raised its FY26 revenue outlook to $3.63–$3.64B, driven by hyperscaler wins and a stronger flash portfolio — a clear fundamental tailwind for revenue and margin expansion. How Pure Storage’s Flash Portfolio is Becoming Its Margin Multiplier
• Positive Sentiment: Market reaction: multiple headlines note Pure Storage shares have gained as broader markets dipped, reflecting favorable investor response to recent product/margin news and sentiment ahead of earnings. Pure Storage (PSTG) Gains As Market Dips: What You Should Know
• Neutral Sentiment: Earnings preview: Wall Street expects EPS growth for the upcoming report, but one preview flags PSTG may not have the ideal setup for an earnings beat — expectations and execution will be scrutinized next week. Pure Storage (PSTG) Reports Next Week: Wall Street Expects Earnings Growth
• Neutral Sentiment: Analyst previews offer deeper KPI expectations (revenue mix, gross margins, AI-specific bookings) ahead of the quarter-end January results — these line-item metrics could swing sentiment independent of headline EPS. Gear Up for Pure Storage (PSTG) Q4 Earnings: Wall Street Estimates for Key Metrics
• Neutral Sentiment: Competitive positioning: comparative analyses with NetApp highlight diverging growth, guidance and valuations as both vie for AI-storage demand — market-share and product wins vs. peers will be watched. Pure Storage vs. NetApp: Which Data Storage Stock Is the Better Pick?
• Negative Sentiment: Analyst action: Citigroup cut its price target to $90, which may cap upside in the near term and signals some analyst caution on valuation vs. growth assumptions. Citigroup Lowers Pure Storage (NYSE:PSTG) Price Target to $90.00
• Negative Sentiment: Valuation concerns: commentary calling PSTG an “expensive certainty” underscores that while the business quality is acknowledged, high multiples could make the stock sensitive to any growth or guidance disappointment. Pure Storage: Quality Business, Expensive Certainty

Pure Storage Company Profile

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.