Zacks Research Predicts Pure Storage FY2028 Earnings

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

A number of other equities research analysts have also recently commented on PSTG. JPMorgan Chase & Co. increased their price target on shares of Pure Storage from $60.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. UBS Group increased their price target on shares of Pure Storage from $47.00 to $50.00 and gave the company a “sell” rating in a report on Thursday, February 27th. Needham & Company LLC reiterated a “buy” rating and set a $75.00 price target on shares of Pure Storage in a report on Thursday, February 27th. Wells Fargo & Company increased their price target on shares of Pure Storage from $75.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, Citigroup cut their price target on shares of Pure Storage from $80.00 to $77.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Pure Storage presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.20.

Pure Storage Stock Up 0.6 %

NYSE:PSTG opened at $51.11 on Friday. The company’s 50 day moving average price is $61.53 and its 200-day moving average price is $57.31. Pure Storage has a 52 week low of $44.76 and a 52 week high of $73.67. The stock has a market cap of $16.67 billion, a price-to-earnings ratio of 134.51, a PEG ratio of 5.12 and a beta of 1.09.

Insider Activity

In related news, insider Ajay Singh sold 19,972 shares of the firm’s stock in a transaction on Tuesday, December 31st. The shares were 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 approximately $16,142,827.52. This trade represents a 7.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CRO Dan Fitzsimons sold 8,895 shares of the firm’s stock in a transaction on 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 directly owns 72,927 shares of the company’s stock, valued at $4,675,349.97. The trade was a 10.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.00% of the company’s stock.

Hedge Funds Weigh In On Pure Storage

Institutional investors have recently bought and sold shares of the stock. McIlrath & Eck LLC purchased a new position in Pure Storage during the fourth quarter valued at $25,000. Sugar Maple Asset Management LLC purchased a new position in Pure Storage during the fourth quarter valued at $29,000. Compass Financial Services Inc purchased a new position in shares of Pure Storage in the 4th quarter worth $29,000. Crowley Wealth Management Inc. purchased a new position in shares of Pure Storage in the 4th quarter worth $31,000. Finally, Berbice Capital Management LLC purchased a new position in shares of Pure Storage in the 4th quarter worth $37,000. 83.42% of the stock is owned by hedge funds and other 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.