Pure Storage’s (PSTG) Outperform Rating Reaffirmed at Wedbush

Wedbush reaffirmed their outperform rating on shares of Pure Storage (NYSE:PSTG) in a research report released on Monday,Benzinga reports. The firm currently has a $100.00 target price on the technology company’s stock.

PSTG has been the topic of several other research reports. Barclays lifted their target price on Pure Storage from $70.00 to $77.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Pure Storage in a report on Thursday, January 22nd. Oppenheimer initiated coverage on shares of Pure Storage in a research note on Monday, November 17th. They set an “outperform” rating and a $120.00 price objective on the stock. Evercore reiterated an “outperform” rating on shares of Pure Storage in a research report on Wednesday, December 3rd. Finally, TD Cowen reissued a “buy” rating on shares of Pure Storage in a research note on Wednesday, December 3rd. Twelve analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Pure Storage has a consensus rating of “Moderate Buy” and a consensus price target of $94.47.

Pure Storage Stock Performance

PSTG stock opened at $68.46 on Monday. Pure Storage has a 1 year low of $34.51 and a 1 year high of $100.59. The stock has a market capitalization of $22.60 billion, a price-to-earnings ratio of 180.16, a PEG ratio of 5.74 and a beta of 1.27. The stock’s fifty day moving average is $70.36 and its two-hundred day moving average is $77.48.

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

Insider Activity

In other Pure Storage news, insider John Colgrove sold 100,000 shares of the company’s stock in a transaction dated 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 Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ajay Singh sold 7,178 shares of the firm’s stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $67.14, for a total transaction of $481,930.92. Following the transaction, the insider owned 215,091 shares of the company’s stock, valued at approximately $14,441,209.74. This trade represents a 3.23% decrease in their position. The disclosure for this sale is available in the SEC filing. 5.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PSTG. Vanguard Group Inc. boosted its stake in shares of 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 in the last quarter. State Street Corp boosted its position in shares of Pure Storage by 0.8% in the 4th quarter. State Street Corp now owns 10,953,501 shares of the technology company’s stock valued at $733,994,000 after purchasing an additional 88,583 shares during the period. Geode Capital Management LLC boosted its position in shares of Pure Storage by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 7,716,158 shares of the technology company’s stock valued at $515,972,000 after purchasing an additional 207,317 shares during the period. Atreides Management LP raised its holdings in Pure Storage by 15.4% during the 3rd quarter. Atreides Management LP now owns 4,098,376 shares of the technology company’s stock worth $343,485,000 after buying an additional 545,890 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Pure Storage by 786.9% during 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 during the period. Institutional investors own 83.42% of the company’s stock.

Trending Headlines about Pure Storage

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

• Positive Sentiment: Company strategic pivot — Pure Storage formally rebranded to Everpure and positioned the business as an AI‑era data management company; leadership says the move is meant to broaden the addressable market. Read More.
• Positive Sentiment: Acquisition to expand capabilities — Management announced intent to acquire 1touch, a data security platform, to add security and data‑management capabilities that support the AI pivot. Deal rationale could increase ARR and product stickiness if execution is smooth. Read More.
• Positive Sentiment: Analyst support — Wedbush reaffirmed an “outperform” rating and a $100 price target, signaling bullish conviction in the company’s strategy and longer‑term upside. Read More.
• Neutral Sentiment: Earnings/valuation focus — Several previews and analyst notes say fiscal Q4 and ARR trends (FlashBlade momentum, AI demand) will drive near‑term results; valuation remains a watch item into earnings. Read More.
• Neutral Sentiment: Long‑term performance pieces — Articles highlighting long‑term returns (e.g., “If you invested $1,000…”) provide context but are unlikely to move the stock materially in the short term. Read More.
• Negative Sentiment: Immediate market reaction — The rebrand triggered a sharp sell‑off as some investors viewed the name change and repositioning as a source of short‑term uncertainty. Read More.
• Negative Sentiment: Target cut from Citi — Citi trimmed its price target to $90 from $105 (while keeping a Buy), reflecting sector/valuation resets ahead of earnings; any lowered PTs add pressure to sentiment. Read More.
• Negative Sentiment: Macro/headline risk — Broader market headlines (new tariff talk, trade uncertainty) contributed to morning weakness across several names, adding to downward pressure. Read More.

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.