Analysts Set Expectations for Pure Storage FY2027 Earnings

Pure Storage, Inc. (NYSE:PSTG) – Stock analysts at William Blair issued their FY2027 earnings estimates for shares of Pure Storage in a report issued on Thursday, February 27th. William Blair analyst J. Ader anticipates that the technology company will post earnings per share of $0.95 for the year. William Blair currently has a “Outperform” rating on the stock. The consensus estimate for Pure Storage’s current full-year earnings is $0.44 per share.

A number of other research analysts have also recently issued reports on PSTG. Barclays lifted their price target on Pure Storage from $56.00 to $61.00 and gave the company an “equal weight” rating in a report on Wednesday, December 4th. Needham & Company LLC reissued a “buy” rating and issued a $75.00 price target on shares of Pure Storage in a report on Thursday, February 27th. TD Cowen upped their price objective on Pure Storage from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Stifel Nicolaus lifted their target price on Pure Storage from $60.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. Finally, Evercore ISI boosted their target price on Pure Storage from $70.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $73.20.

Pure Storage Price Performance

Shares of PSTG opened at $49.50 on Monday. The company has a market capitalization of $16.15 billion, a P/E ratio of 130.27, a PEG ratio of 5.12 and a beta of 1.09. The business’s 50 day simple moving average is $65.37 and its 200-day simple moving average is $58.09. Pure Storage has a one year low of $44.76 and a one year high of $73.67.

Insiders Place Their Bets

In other news, insider Ajay Singh sold 19,972 shares of the company’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 completion of the transaction, the insider now directly owns 262,144 shares of the company’s stock, valued at $16,142,827.52. This represents a 7.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Mona Chu sold 8,311 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $62.16, for a total transaction of $516,611.76. Following the sale, the chief accounting officer now directly owns 67,681 shares in the company, valued at $4,207,050.96. This trade represents a 10.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 137,178 shares of company stock worth $8,871,746. Company insiders own 6.00% of the company’s stock.

Hedge Funds Weigh In On Pure Storage

Several large investors have recently modified their holdings of PSTG. World Investment Advisors grew its holdings in Pure Storage by 1.6% in the 4th quarter. World Investment Advisors now owns 9,635 shares of the technology company’s stock valued at $592,000 after buying an additional 150 shares in the last quarter. Peapack Gladstone Financial Corp grew its holdings in shares of Pure Storage by 2.7% during the 4th quarter. Peapack Gladstone Financial Corp now owns 5,775 shares of the technology company’s stock worth $355,000 after purchasing an additional 150 shares in the last quarter. HighPoint Advisor Group LLC increased its position in shares of Pure Storage by 2.7% in the fourth quarter. HighPoint Advisor Group LLC now owns 5,885 shares of the technology company’s stock worth $396,000 after purchasing an additional 157 shares during the period. Parallel Advisors LLC raised its stake in Pure Storage by 1.4% in the fourth quarter. Parallel Advisors LLC now owns 13,271 shares of the technology company’s stock valued at $815,000 after purchasing an additional 186 shares in the last quarter. Finally, Cherry Creek Investment Advisors Inc. increased its holdings in Pure Storage by 0.3% in the 4th quarter. Cherry Creek Investment Advisors Inc. now owns 67,232 shares of the technology company’s stock valued at $4,130,000 after buying an additional 189 shares during the period. 83.42% of the stock is owned by institutional investors.

About Pure Storage

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.