Zacks Research Predicts 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 research report issued on Wednesday, March 19th. Zacks Research analyst R. Department anticipates that the technology company will post earnings per share of $0.78 for the year. The consensus estimate for Pure Storage’s current full-year earnings is $0.44 per share.

A number of other equities analysts have also recently commented on PSTG. JPMorgan Chase & Co. lifted their price target on shares of Pure Storage from $60.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Lake Street Capital lifted their price objective 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. Bank of America decreased their price objective on shares of Pure Storage from $77.00 to $73.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Wells Fargo & Company lifted their price objective 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, StockNews.com lowered shares of Pure Storage from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. One equities 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. Based on data from MarketBeat.com, Pure Storage currently has an average rating of “Moderate Buy” and a consensus target price of $73.20.

Pure Storage Trading Up 0.6 %

PSTG stock opened at $51.11 on Friday. Pure Storage has a 12 month low of $44.76 and a 12 month high of $73.67. The company has a 50-day moving average price of $61.53 and a 200 day moving average price of $57.31. The stock has a market cap of $16.67 billion, a PE ratio of 134.51, a P/E/G ratio of 5.12 and a beta of 1.09.

Insider Buying and Selling

In related news, insider Ajay Singh sold 19,972 shares of the business’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 completion of the transaction, the insider now owns 262,144 shares in the company, valued at $16,142,827.52. The trade was a 7.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CRO Dan Fitzsimons sold 8,895 shares of the business’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $64.11, for a total transaction of $570,258.45. Following the transaction, the executive now owns 72,927 shares of the company’s stock, valued at approximately $4,675,349.97. This trade represents a 10.87 % decrease in their position. The disclosure for this sale can be found here. 6.00% of the stock is currently owned by company insiders.

Institutional Trading of Pure Storage

Large investors have recently bought and sold shares of the stock. McIlrath & Eck LLC purchased a new stake in Pure Storage during the 4th quarter worth approximately $25,000. Sugar Maple Asset Management LLC purchased a new stake in Pure Storage during the 4th quarter worth approximately $29,000. Compass Financial Services Inc purchased a new stake in Pure Storage during the 4th quarter worth approximately $29,000. Crowley Wealth Management Inc. purchased a new stake in Pure Storage during the 4th quarter worth approximately $31,000. Finally, Berbice Capital Management LLC purchased a new stake in Pure Storage during the 4th quarter worth approximately $37,000. Hedge funds and other institutional investors own 83.42% of the company’s stock.

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.