Zacks Research Weighs in on Pure Storage FY2028 Earnings

Pure Storage, Inc. (NYSE:PSTG - Free Report) - Analysts at Zacks Research issued their FY2028 EPS estimates for shares of Pure Storage in a report released on Wednesday, March 19th. Zacks Research analyst R. Department expects that the technology company will post earnings of $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 topic of several other research reports. Wells Fargo & Company lifted their price objective on shares of Pure Storage from $75.00 to $80.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 4th. Stifel Nicolaus raised their target price on shares of Pure Storage from $60.00 to $65.00 and gave the stock a "hold" rating 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 company a "buy" rating in a report on Wednesday, December 4th. Evercore ISI increased their price objective on Pure Storage from $70.00 to $75.00 and gave the company an "outperform" rating in a research report on Wednesday, December 4th. Finally, Citigroup decreased their target price on Pure Storage from $80.00 to $77.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $73.20.

Remove Ads

Pure Storage Stock Up 3.2 %

Pure Storage stock traded up $1.63 during midday trading on Friday, hitting $52.78. The company's stock had a trading volume of 892,150 shares, compared to its average volume of 2,783,458. Pure Storage has a 12 month low of $44.76 and a 12 month high of $73.67. The company has a market capitalization of $17.22 billion, a PE ratio of 138.90, a price-to-earnings-growth ratio of 5.12 and a beta of 1.09. The stock's 50-day moving average price is $61.53 and its 200-day moving average price is $57.38.

Insider Transactions at Pure Storage

In other Pure Storage news, insider Ajay Singh sold 19,972 shares of the business's stock in a transaction dated 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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CRO Dan Fitzsimons sold 8,895 shares of the firm's stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $64.11, for a total value of $570,258.45. Following the sale, the executive now directly owns 72,927 shares of the company's stock, valued at $4,675,349.97. This trade represents a 10.87 % decrease in their ownership of the stock. 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

Several large investors have recently added to or reduced their stakes in the business. World Investment Advisors lifted its stake in shares of Pure Storage by 1.6% in the 4th quarter. World Investment Advisors now owns 9,635 shares of the technology company's stock valued at $592,000 after purchasing an additional 150 shares during the last quarter. Peapack Gladstone Financial Corp raised its holdings in Pure Storage by 2.7% during the fourth quarter. Peapack Gladstone Financial Corp now owns 5,775 shares of the technology company's stock valued at $355,000 after buying an additional 150 shares in the last quarter. HighPoint Advisor Group LLC lifted its position in shares of Pure Storage by 2.7% in the fourth quarter. HighPoint Advisor Group LLC now owns 5,885 shares of the technology company's stock worth $396,000 after buying an additional 157 shares during the last quarter. Parallel Advisors LLC boosted its stake in shares of Pure Storage by 1.4% during the 4th quarter. Parallel Advisors LLC now owns 13,271 shares of the technology company's stock worth $815,000 after acquiring an additional 186 shares in the last quarter. Finally, Cherry Creek Investment Advisors Inc. boosted its stake in shares of Pure Storage by 0.3% during the 4th quarter. Cherry Creek Investment Advisors Inc. now owns 67,232 shares of the technology company's stock worth $4,130,000 after acquiring an additional 189 shares in the last quarter. 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.