Analysts Set Expectations for Pure Storage FY2028 Earnings

Pure Storage, Inc. (NYSE:PSTG) – Equities researchers at Zacks Research issued their FY2028 earnings estimates for Pure Storage in a report issued on Wednesday, March 19th. Zacks Research analyst R. Department forecasts that the technology company will post earnings per share of $0.78 for the year. The consensus estimate for Pure Storage’s current full-year earnings is $0.44 per share.

Several other research analysts have also issued reports on the stock. Wells Fargo & Company lifted their price target on shares of Pure Storage from $75.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Evercore ISI lifted their price target on shares of Pure Storage from $70.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Needham & Company LLC restated a “buy” rating and issued a $75.00 price target on shares of Pure Storage in a research report on Thursday, February 27th. Barclays lifted their price target on shares of Pure Storage from $56.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 4th. Finally, Piper Sandler raised shares of Pure Storage from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $56.00 to $76.00 in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Pure Storage has an average rating of “Moderate Buy” and a consensus target price of $73.20.

Pure Storage Stock Performance

Pure Storage stock opened at $50.81 on Friday. The firm has a market cap of $16.58 billion, a price-to-earnings ratio of 133.71, a price-to-earnings-growth ratio of 5.12 and a beta of 1.09. Pure Storage has a 1 year low of $44.76 and a 1 year high of $73.67. The firm’s 50 day moving average price is $61.80 and its two-hundred day moving average price is $57.25.

Institutional Trading of Pure Storage

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Lighthouse Financial LLC bought a new stake in Pure Storage in the fourth quarter valued at about $319,000. Siemens Fonds Invest GmbH acquired a new position in Pure Storage in the fourth quarter valued at about $81,000. Menard Financial Group LLC boosted its position in Pure Storage by 17.5% in the fourth quarter. Menard Financial Group LLC now owns 10,915 shares of the technology company’s stock valued at $671,000 after buying an additional 1,626 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Pure Storage in the fourth quarter valued at about $10,289,000. Finally, Integrated Advisors Network LLC acquired a new position in Pure Storage in the fourth quarter valued at about $202,000. Institutional investors own 83.42% of the company’s stock.

Insider Buying and Selling

In other news, CRO Dan Fitzsimons sold 8,895 shares of the business’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $64.11, for a total transaction of $570,258.45. Following the transaction, the executive now owns 72,927 shares in the company, valued at approximately $4,675,349.97. The trade was a 10.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Ajay Singh sold 19,972 shares of the business’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $61.58, for a total transaction of $1,229,875.76. Following the transaction, the insider now owns 262,144 shares in the company, valued at approximately $16,142,827.52. The trade was a 7.08 % decrease in their position. The disclosure for this sale can be found here. Insiders own 6.00% of the company’s stock.

Pure Storage Company Profile

Pure Storage, Inc engages in the provision of data storage and management technologies, products, and services in the United States and internationally. Its Purity software is shared across its products and provides enterprise-class data services, such as always-on data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object.