UBS Group Forecasts Strong Price Appreciation for Pure Storage (NYSE:PSTG) Stock

Pure Storage (NYSE:PSTG) had its price objective boosted by equities researchers at UBS Group from $60.00 to $63.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “sell” rating on the technology company’s stock. UBS Group’s price objective points to a potential downside of 1.77% from the company’s current price.

Several other research analysts also recently commented on PSTG. Evercore reissued an “outperform” rating on shares of Pure Storage in a research note on Wednesday, December 3rd. Lake Street Capital increased their target price on shares of Pure Storage from $80.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, December 3rd. Wells Fargo & Company decreased their price target on shares of Pure Storage from $100.00 to $90.00 and set an “overweight” rating on the stock in a research note on Thursday. Tigress Financial set a $105.00 price objective on shares of Pure Storage in a research note on Wednesday, December 3rd. Finally, Oppenheimer began coverage on Pure Storage in a research report on Monday, November 17th. They issued an “outperform” rating and a $120.00 price target for the company. Twelve 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 target price of $94.32.

Pure Storage Stock Down 2.8%

PSTG opened at $64.14 on Thursday. The company has a market cap of $21.18 billion, a PE ratio of 116.61, a price-to-earnings-growth ratio of 5.78 and a beta of 1.27. Pure Storage has a twelve month low of $34.51 and a twelve month high of $100.59. The company has a 50-day moving average price of $70.35 and a 200 day moving average price of $77.49.

Pure Storage (NYSE:PSTG) last posted its quarterly earnings data on Wednesday, February 25th. The technology company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.04. Pure Storage had a return on equity of 14.69% and a net margin of 5.14%.The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the previous year, the firm posted $0.45 EPS. Pure Storage’s revenue was up 20.4% compared to the same quarter last year. As a group, sell-side analysts expect that Pure Storage will post 0.44 earnings per share for the current year.

Insider Activity at Pure Storage

In other Pure Storage news, insider Ajay Singh sold 7,178 shares of the firm’s stock in a transaction on 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 sale, the insider owned 215,091 shares of the company’s stock, valued at $14,441,209.74. This trade represents a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction on Monday, December 8th. The shares were sold at an average price of $71.31, for a total value of $7,131,000.00. The SEC filing for this sale provides additional information. 5.60% of the stock is currently owned by insiders.

Institutional Trading of Pure Storage

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Integrated Wealth Concepts LLC purchased a new position in shares of Pure Storage during the 1st quarter worth approximately $541,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Pure Storage by 129.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,742 shares of the technology company’s stock valued at $387,000 after buying an additional 4,926 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of 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 period. Empowered Funds LLC lifted its stake in Pure Storage by 4.2% during the 1st quarter. Empowered Funds LLC now owns 4,790 shares of the technology company’s stock worth $212,000 after acquiring an additional 194 shares in the last quarter. Finally, D.A. Davidson & CO. lifted its stake in Pure Storage by 9.6% during the 2nd quarter. D.A. Davidson & CO. now owns 7,672 shares of the technology company’s stock worth $442,000 after acquiring an additional 672 shares in the last quarter. 83.42% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Pure Storage

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

• Positive Sentiment: Q4 results and guidance beat expectations — Pure Storage reported its first $1.06B quarter, non-GAAP EPS of $0.69 (beats) and raised FY27 revenue/profit outlook driven by hyperscaler demand. This underpins near-term growth expectations. Read More.
• Positive Sentiment: Rebrand and strategic M&A — The company rebranded as Everpure and signed a deal to acquire data‑intelligence firm 1touch, signaling a move from hardware-centric storage toward data management/AI capabilities that could expand TAM and gross-margin mix over time. Read More.
• Positive Sentiment: Bullish analyst/takeaway coverage — Several bullish pieces argue Everpure is capitalizing on hyperscaler AI demand, price increases and NAND procurement shifts that should protect margins and support FY27 growth (supporting a “buy” thesis). Read More.
• Neutral Sentiment: Investor presentations and management commentary — Transcripts from Susquehanna and Bernstein conferences and the Q4 earnings call provide detail on product positioning, hyperscaler traction and go‑to‑market; useful for modeling but not immediate catalysts. Read More. Read More.
• Negative Sentiment: Analyst/valuation concerns — Some commentary flags supply strains, pricing pressure in segments, and a high valuation (elevated P/E), which can make the stock sensitive to any execution slips. Zacks notes these risks despite the beat. Read More.
• Negative Sentiment: Mixed analyst ratings — Barclays raised its target to $81 (equal weight) while UBS raised its target to $63 but kept a sell rating; the split shows disagreement on whether rebrand/growth justify the current multiple, contributing to intraday selling. Read More. 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.