Pure Storage, Inc. (NYSE:PSTG - Free Report) - Equities research analysts at Zacks Research reduced their Q1 2026 earnings per share (EPS) estimates for shares of Pure Storage in a research report issued on Wednesday, March 19th. Zacks Research analyst R. Department now forecasts that the technology company will post earnings of ($0.04) per share for the quarter, down from their previous forecast of $0.04. The consensus estimate for Pure Storage's current full-year earnings is $0.44 per share. Zacks Research also issued estimates for Pure Storage's Q2 2026 earnings at $0.08 EPS, Q3 2026 earnings at $0.17 EPS, Q4 2026 earnings at $0.21 EPS, FY2026 earnings at $0.43 EPS, Q1 2027 earnings at $0.04 EPS, Q3 2027 earnings at $0.21 EPS, Q4 2027 earnings at $0.26 EPS and FY2027 earnings at $0.64 EPS.
Several other equities analysts have also recently issued reports on PSTG. UBS Group boosted their price objective on Pure Storage from $47.00 to $50.00 and gave the company a "sell" rating in a report on Thursday, February 27th. Piper Sandler raised 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 report on Wednesday, December 4th. TD Cowen upped their price target on Pure Storage from $70.00 to $80.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. Needham & Company LLC reaffirmed a "buy" rating and issued a $75.00 price target on shares of Pure Storage in a report on Thursday, February 27th. Finally, Citigroup reduced their price target on Pure Storage from $80.00 to $77.00 and set a "buy" rating for the company in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $73.20.
View Our Latest Analysis on PSTG
Shares of PSTG stock opened at $51.11 on Monday. The stock has a market cap of $16.67 billion, a PE ratio of 134.51, a price-to-earnings-growth ratio of 5.12 and a beta of 1.09. The business has a 50-day simple moving average of $61.53 and a 200-day simple moving average of $57.38. Pure Storage has a 52-week low of $44.76 and a 52-week high of $73.67.
In related news, insider Ajay Singh sold 19,972 shares of the stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $61.58, for a total value of $1,229,875.76. Following the completion of the transaction, the insider now directly owns 262,144 shares in the company, valued at approximately $16,142,827.52. This represents a 7.08 % decrease in their ownership of the stock. The sale 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 stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $64.11, for a total value of $570,258.45. Following the completion of the transaction, the executive now 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. Company insiders own 6.00% of the company's stock.
Hedge funds have recently added to or reduced their stakes in the business. McIlrath & Eck LLC purchased a new position in Pure Storage in the fourth quarter worth approximately $25,000. Sugar Maple Asset Management LLC acquired a new position in Pure Storage during the fourth quarter worth $29,000. Compass Financial Services Inc acquired a new position in Pure Storage during the fourth quarter worth $29,000. Crowley Wealth Management Inc. acquired a new position in Pure Storage during the fourth quarter worth $31,000. Finally, Larson Financial Group LLC lifted its stake in Pure Storage by 49.1% during the third quarter. Larson Financial Group LLC now owns 644 shares of the technology company's stock worth $32,000 after purchasing an additional 212 shares in the last quarter. 83.42% of the stock is currently owned by hedge funds and other institutional investors.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Pure Storage, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Pure Storage wasn't on the list.
While Pure Storage currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.