Pure Storage (NYSE:PSTG) Rating Increased to Buy 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 note issued to investors on Saturday morning.

PSTG has been the subject of several other research reports. Morgan Stanley set a $83.00 price target on shares of Pure Storage in a report on Wednesday, December 3rd. Wedbush upped their target price on shares of Pure Storage from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 3rd. Lake Street Capital lifted their price target on Pure Storage from $80.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, December 3rd. JPMorgan Chase & Co. reduced their price objective on Pure Storage from $110.00 to $105.00 and set an “overweight” rating for the company in a research report on Wednesday, December 3rd. Finally, Oppenheimer assumed coverage on Pure Storage in a report on Monday, November 17th. They set an “outperform” rating and a $120.00 price objective for the company. Twelve equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $94.47.

Pure Storage Price Performance

Shares of Pure Storage stock opened at $73.93 on Friday. The company has a market capitalization of $24.41 billion, a P/E ratio of 194.54, a price-to-earnings-growth ratio of 5.77 and a beta of 1.27. The business has a 50-day moving average of $70.39 and a two-hundred day moving average of $77.27. Pure Storage has a 1 year low of $34.51 and a 1 year high of $100.59.

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

Insider Activity

In related news, insider Ajay Singh sold 7,178 shares of the stock in a transaction that occurred 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 transaction, the insider directly owned 215,091 shares of the company’s stock, valued at approximately $14,441,209.74. This represents a 3.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John Colgrove sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $71.31, for a total value of $7,131,000.00. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Pure Storage

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Winnow Wealth LLC bought a new stake in Pure Storage in the third quarter valued at approximately $26,000. Provenance Wealth Advisors LLC bought a new stake in Pure Storage in the 3rd quarter valued at $27,000. Salomon & Ludwin LLC lifted its holdings in Pure Storage by 108.2% during the 4th quarter. Salomon & Ludwin LLC now owns 383 shares of the technology company’s stock valued at $27,000 after purchasing an additional 199 shares during the last quarter. Foster Dykema Cabot & Partners LLC bought a new position in Pure Storage during the third quarter worth $28,000. Finally, Sunbelt Securities Inc. increased its holdings in shares of Pure Storage by 287.1% in the third quarter. Sunbelt Securities Inc. now owns 329 shares of the technology company’s stock valued at $28,000 after purchasing an additional 244 shares during the last quarter. 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: 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

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.