Evercore ISI Issues Positive Forecast for Pure Storage (NYSE:PSTG) Stock Price

Pure Storage (NYSE:PSTG) had its price target hoisted by equities research analysts at Evercore ISI from $80.00 to $85.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the technology company’s stock. Evercore ISI’s target price indicates a potential upside of 7.43% from the company’s current price.

PSTG has been the subject of several other research reports. Raymond James Financial raised their target price on shares of Pure Storage from $76.00 to $88.00 and gave the stock an “outperform” rating in a report on Thursday, August 28th. Cowen restated a “buy” rating on shares of Pure Storage in a report on Thursday, August 28th. Morgan Stanley raised their target price on shares of Pure Storage from $60.00 to $72.00 and gave the stock an “equal weight” rating in a report on Thursday, August 28th. Needham & Company LLC raised their price target on shares of Pure Storage from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, August 28th. Finally, Barclays raised their price target on shares of Pure Storage from $57.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Friday, August 29th. Fourteen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Pure Storage presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.39.

Pure Storage Stock Up 0.5%

Shares of NYSE:PSTG opened at $79.12 on Thursday. Pure Storage has a 52 week low of $34.51 and a 52 week high of $80.68. The stock has a market capitalization of $25.86 billion, a P/E ratio of 192.99, a PEG ratio of 7.36 and a beta of 1.20. The firm has a fifty day simple moving average of $60.32 and a two-hundred day simple moving average of $53.89.

Pure Storage (NYSE:PSTG) last issued its quarterly earnings results on Wednesday, August 27th. The technology company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.04. The company had revenue of $861.00 million during the quarter, compared to the consensus estimate of $845.78 million. Pure Storage had a return on equity of 11.34% and a net margin of 4.15%.Pure Storage’s revenue was up 12.7% on a year-over-year basis. During the same period last year, the company earned $0.44 earnings per share. Pure Storage has set its FY 2026 guidance at EPS. Q3 2026 guidance at EPS. On average, analysts expect that Pure Storage will post 0.44 earnings per share for the current year.

Insider Buying and Selling at Pure Storage

In other Pure Storage news, insider Ajay Singh sold 22,601 shares of the stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $55.45, for a total transaction of $1,253,225.45. Following the completion of the sale, the insider directly owned 261,465 shares of the company’s stock, valued at approximately $14,498,234.25. This represents a 7.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider John Colgrove sold 95,300 shares of the stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $60.08, for a total transaction of $5,725,624.00. Following the sale, the insider directly owned 400,000 shares of the company’s stock, valued at approximately $24,032,000. The trade was a 19.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 551,360 shares of company stock valued at $33,317,922. 5.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Pure Storage

Several hedge funds have recently modified their holdings of the company. Bank Pictet & Cie Europe AG increased its holdings in shares of Pure Storage by 23.3% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 9,201 shares of the technology company’s stock valued at $565,000 after acquiring an additional 1,740 shares in the last quarter. Captrust Financial Advisors boosted its position in Pure Storage by 14.3% in the fourth quarter. Captrust Financial Advisors now owns 68,706 shares of the technology company’s stock valued at $4,221,000 after buying an additional 8,594 shares during the last quarter. Cetera Investment Advisers boosted its position in Pure Storage by 10.4% in the fourth quarter. Cetera Investment Advisers now owns 73,268 shares of the technology company’s stock valued at $4,501,000 after buying an additional 6,909 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in Pure Storage by 48.9% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 111,140 shares of the technology company’s stock valued at $6,827,000 after buying an additional 36,520 shares during the last quarter. Finally, Deutsche Bank AG boosted its position in Pure Storage by 11.1% in the fourth quarter. Deutsche Bank AG now owns 605,553 shares of the technology company’s stock valued at $37,199,000 after buying an additional 60,280 shares during the last quarter. 83.42% of the stock is owned by hedge funds and other 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.