Analysts Issue Forecasts for Pure Storage FY2027 Earnings

Pure Storage, Inc. (NYSE:PSTG) – Analysts at William Blair issued their FY2027 earnings estimates for shares of Pure Storage in a research note issued to investors on Thursday, February 27th. William Blair analyst J. Ader forecasts that the technology company will post earnings of $0.95 per share 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.

PSTG has been the subject of several other reports. Stifel Nicolaus boosted their price objective on shares of Pure Storage from $60.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. Piper Sandler raised shares of Pure Storage from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $56.00 to $76.00 in a research report on Wednesday, December 4th. Wells Fargo & Company boosted their price objective on shares of Pure Storage from $75.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. boosted their price objective on shares of Pure Storage from $60.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Finally, Northland Securities reissued a “market perform” rating and issued a $63.00 price objective (up from $59.00) on shares of Pure Storage in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $73.20.

Pure Storage Price Performance

Pure Storage stock opened at $50.12 on Monday. The stock has a market cap of $16.35 billion, a price-to-earnings ratio of 131.89, 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 has a 50-day moving average of $65.08 and a two-hundred day moving average of $58.01.

Hedge Funds Weigh In On Pure Storage

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC lifted its holdings in Pure Storage by 0.8% during the third quarter. FMR LLC now owns 49,153,797 shares of the technology company’s stock valued at $2,469,487,000 after purchasing an additional 368,643 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Pure Storage by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 33,443,732 shares of the technology company’s stock valued at $2,054,448,000 after buying an additional 615,931 shares during the last quarter. State Street Corp raised its position in shares of Pure Storage by 6.5% in the third quarter. State Street Corp now owns 10,262,666 shares of the technology company’s stock valued at $515,596,000 after buying an additional 626,427 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its position in shares of Pure Storage by 5.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 7,207,162 shares of the technology company’s stock valued at $442,736,000 after buying an additional 401,035 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Pure Storage by 25.4% in the fourth quarter. Geode Capital Management LLC now owns 6,748,553 shares of the technology company’s stock valued at $413,982,000 after buying an additional 1,366,458 shares during the last quarter. 83.42% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CAO Mona Chu sold 8,311 shares of the stock in a transaction on Thursday, December 12th. The shares were 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 of the company’s stock, valued at approximately $4,207,050.96. This represents a 10.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Ajay Singh sold 19,972 shares of the stock in a transaction on 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 sale, the insider now directly owns 262,144 shares in the company, valued at $16,142,827.52. This trade represents a 7.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,178 shares of company stock valued at $2,316,746 in the last ninety days. 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.