Wedbush Reiterates Outperform Rating for Pure Storage (NYSE:PSTG)

Pure Storage (NYSE:PSTG)‘s stock had its “outperform” rating restated by investment analysts at Wedbush in a note issued to investors on Monday,Benzinga reports. They currently have a $100.00 price objective on the technology company’s stock. Wedbush’s price objective would suggest a potential upside of 47.44% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on the company. Barclays upped their price target on Pure Storage from $70.00 to $77.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 3rd. Tigress Financial set a $105.00 target price on Pure Storage in a report on Wednesday, December 3rd. Northland Securities set a $77.00 price target on Pure Storage in a research note on Wednesday, December 3rd. Lake Street Capital boosted their price objective on shares of Pure Storage from $80.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, December 3rd. Finally, TD Cowen restated a “buy” rating on shares of Pure Storage in a report on Wednesday, December 3rd. Twelve research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Pure Storage currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.47.

Pure Storage Price Performance

Shares of PSTG stock opened at $67.83 on Monday. The business’s fifty day moving average price is $70.33 and its 200 day moving average price is $77.55. The firm has a market capitalization of $22.39 billion, a PE ratio of 178.49, a P/E/G ratio of 5.28 and a beta of 1.27. 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 earnings results on Tuesday, December 2nd. The technology company reported $0.58 EPS for the quarter, hitting 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%. The business’s revenue was up 16.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.50 EPS. Equities research analysts expect that Pure Storage will post 0.44 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Pure Storage news, insider John Colgrove sold 100,000 shares of the stock in a transaction 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 document filed with the SEC, which is available at this link. Also, 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 value of $481,930.92. Following the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Pure Storage

Several large investors have recently added to or reduced their stakes in the business. Winnow Wealth LLC purchased a new position in shares of Pure Storage during the 3rd quarter worth about $26,000. Provenance Wealth Advisors LLC acquired a new position in Pure Storage during the third quarter worth approximately $27,000. Sunbelt Securities Inc. raised its stake in 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 purchasing an additional 244 shares during the period. Foster Dykema Cabot & Partners LLC acquired a new position in shares of Pure Storage in the 3rd quarter valued at $28,000. Finally, Assetmark Inc. grew its stake in shares of Pure Storage by 186.6% during the 3rd quarter. Assetmark Inc. now owns 341 shares of the technology company’s stock valued at $29,000 after buying an additional 222 shares during the period. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Pure Storage

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

• Positive Sentiment: Wedbush reiterated an “outperform” and set a $100 price target on PSTG, signaling analyst confidence in Pure Storage’s strategy and implying meaningful upside if execution meets expectations. Benzinga
• Positive Sentiment: Management announced the acquisition of 1touch and a rebrand to Everpure to position the company as an AI‑era data management vendor — a move that could expand recurring software/ARR revenue and product relevance in AI initiatives. Pure Storage Becomes Everpure; Announces Intent to Acquire 1touch
• Neutral Sentiment: Investors are heading into PSTG’s earnings report tomorrow after market close; previews emphasize AI demand, FlashBlade momentum and ARR growth as key watchpoints — earnings could swing sentiment either way. Pure Storage (PSTG) To Report Earnings Tomorrow: Here Is What To Expect
• Neutral Sentiment: Analyst notes and options activity have put valuation and volatility in focus; some coverage frames PSTG as a longer‑term AI/flash play but flags near‑term execution and multiples as risks. Pure Storage (PSTG) Valuation Check As Analyst Updates And Options Activity Focus Attention On Earnings
• Negative Sentiment: Shares fell after the rebrand announcement — investors reacted negatively to the name change/branding risk despite the strategic rationale, causing short‑term selling pressure. Everpure stock falls after rebrand from Pure Storage
• Negative Sentiment: Broader market headwinds — including renewed tariff/trade policy worries — weighed on tech names this morning and contributed to PSTG’s decline. Kforce, Insperity, PAR Technology, Pure Storage, and Xerox Stocks Trade Down, What You Need To Know

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.