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

Wall Street Zen upgraded shares of Pure Storage (NYSE:PSTG) from a hold rating to a buy rating in a research report report published on Saturday morning.

PSTG has been the topic of several other reports. Tigress Financial set a $105.00 price target on shares of Pure Storage in a report on Wednesday, December 3rd. Evercore reissued an “outperform” rating on shares of Pure Storage in a report on Wednesday, December 3rd. Morgan Stanley set a $83.00 target price on shares of Pure Storage in a research note on Wednesday, December 3rd. Northland Securities set a $77.00 price target on shares of Pure Storage in a research 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 equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $94.47.

Pure Storage Stock Performance

NYSE:PSTG opened at $68.46 on Friday. Pure Storage has a one year low of $34.51 and a one year high of $100.59. The business’s 50-day simple moving average is $70.36 and its 200 day simple moving average is $77.48. The stock has a market cap of $22.60 billion, a price-to-earnings ratio of 180.16, a price-to-earnings-growth ratio of 5.74 and a beta of 1.27.

Pure Storage (NYSE:PSTG) last issued its quarterly earnings data on Tuesday, December 2nd. The technology company reported $0.58 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.58. Pure Storage had a return on equity of 10.60% and a net margin of 3.74%.The firm had revenue of $964.45 million during the quarter, compared to analyst estimates of $955.60 million. During the same quarter last year, the firm earned $0.50 EPS. Pure Storage’s quarterly revenue was up 16.1% on a year-over-year basis. On average, equities research analysts predict that Pure Storage will post 0.44 EPS for the current year.

Insider Transactions at Pure Storage

In other news, insider John Colgrove sold 100,000 shares of the stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $71.31, for a total transaction of $7,131,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Ajay Singh sold 7,178 shares of the firm’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 in the company, 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. Company insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On Pure Storage

Several large investors have recently added to or reduced their stakes in the stock. Winnow Wealth LLC acquired a new position in shares of Pure Storage during the third quarter valued at $26,000. Provenance Wealth Advisors LLC acquired a new stake in shares of Pure Storage in the third quarter valued at approximately $27,000. Salomon & Ludwin LLC raised its holdings in shares of Pure Storage by 108.2% during the fourth quarter. Salomon & Ludwin LLC now owns 383 shares of the technology company’s stock valued at $27,000 after buying an additional 199 shares during the last quarter. Foster Dykema Cabot & Partners LLC bought a new stake in shares of Pure Storage during the third quarter valued at approximately $28,000. Finally, Sunbelt Securities Inc. boosted its position in shares of Pure Storage by 287.1% during the third quarter. Sunbelt Securities Inc. now owns 329 shares of the technology company’s stock worth $28,000 after buying an additional 244 shares during the period. 83.42% of the stock is owned by institutional investors and hedge funds.

Key Pure Storage News

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.

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.