Zacks Research Weighs in on Pure Storage FY2028 Earnings

Pure Storage, Inc. (NYSE:PSTG) – Equities researchers at Zacks Research issued their FY2028 EPS estimates for shares of 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.

PSTG has been the subject of several other reports. Lake Street Capital lifted their target price on shares of Pure Storage from $68.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Morgan Stanley lifted their price objective on Pure Storage from $62.00 to $72.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 17th. Barclays increased their target price on Pure Storage from $56.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 4th. Citigroup lowered their price target on Pure Storage from $80.00 to $77.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Finally, Piper Sandler raised shares of Pure Storage from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $56.00 to $76.00 in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, Pure Storage currently has an average rating of “Moderate Buy” and a consensus target price of $73.20.

Pure Storage Price Performance

NYSE:PSTG opened at $51.11 on Friday. The firm has a market capitalization of $16.67 billion, a P/E ratio of 134.51, a PEG ratio of 5.12 and a beta of 1.09. Pure Storage has a one year low of $44.76 and a one year high of $73.67. The company’s 50-day simple moving average is $61.53 and its 200 day simple moving average is $57.24.

Insider Buying and Selling at Pure Storage

In related news, CRO Dan Fitzsimons sold 8,895 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive now directly owns 72,927 shares in the company, valued at approximately $4,675,349.97. The trade was a 10.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Ajay Singh sold 19,972 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly owns 262,144 shares of the company’s stock, valued at approximately $16,142,827.52. This represents a 7.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 6.00% of the company’s stock.

Hedge Funds Weigh In On Pure Storage

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

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.