Pure Storage, Inc. (NYSE:PSTG) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Pure Storage, Inc. (NYSE:PSTG) have earned an average recommendation of “Moderate Buy” from the nineteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and twelve have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $94.4737.

Several equities research analysts recently weighed in on the stock. Citigroup reduced their target price on shares of Pure Storage from $105.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, February 17th. Northland Securities set a $77.00 price objective on Pure Storage in a research report on Wednesday, December 3rd. TD Cowen restated a “buy” rating on shares of Pure Storage in a research report on Wednesday, December 3rd. Evercore reaffirmed an “outperform” rating on shares of Pure Storage in a research report on Wednesday, December 3rd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $100.00 price target on shares of Pure Storage in a report on Wednesday, December 3rd.

Pure Storage News Roundup

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 Stock Down 7.4%

Shares of PSTG stock opened at $68.46 on Tuesday. Pure Storage has a 12 month low of $34.51 and a 12 month high of $100.59. The firm has a market cap of $22.60 billion, a PE ratio of 180.16, a price-to-earnings-growth ratio of 5.74 and a beta of 1.27. The stock has a 50 day moving average of $70.36 and a 200-day moving average of $77.48.

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, hitting analysts’ consensus estimates of $0.58. Pure Storage had a net margin of 3.74% and a return on equity of 10.60%. The business had revenue of $964.45 million for the quarter, compared to analyst estimates of $955.60 million. During the same quarter in the previous year, the firm posted $0.50 earnings per share. Pure Storage’s revenue was up 16.1% compared to the same quarter last year. As a group, equities analysts predict 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 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 transaction of $481,930.92. Following the completion of the transaction, the insider owned 215,091 shares in the company, valued at $14,441,209.74. This trade represents a 3.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Colgrove sold 100,000 shares of the company’s 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. Additional details regarding this sale are available in the official SEC disclosure. 5.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Pure Storage

Several institutional investors and hedge funds have recently made changes to their positions in PSTG. BI Asset Management Fondsmaeglerselskab A S increased its holdings in shares of Pure Storage by 96.3% during the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 31,166 shares of the technology company’s stock worth $2,612,000 after acquiring an additional 15,286 shares during the last quarter. AlTi Global Inc. bought a new position in shares of Pure Storage in the third quarter valued at about $2,517,000. Merit Financial Group LLC lifted its stake in shares of Pure Storage by 145.6% during the 3rd quarter. Merit Financial Group LLC now owns 25,943 shares of the technology company’s stock worth $2,174,000 after buying an additional 15,382 shares during the last quarter. Oak Thistle LLC acquired a new stake in shares of Pure Storage during the 3rd quarter worth about $1,653,000. Finally, RBA Wealth Management LLC bought a new stake in shares of Pure Storage during the 3rd quarter worth about $5,964,000. Institutional investors and hedge funds own 83.42% of the company’s stock.

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.