Pure Storage, Inc. (NYSE:PSTG - Free Report) - Investment analysts at Zacks Research cut their Q1 2026 earnings per share estimates for shares of Pure Storage in a research note issued on Wednesday, March 19th. Zacks Research analyst R. Department now expects 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 analysts also recently issued reports on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $75.00 price objective on shares of Pure Storage in a report on Thursday, February 27th. TD Cowen lifted their price target on Pure Storage from $70.00 to $80.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. Piper Sandler raised 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. StockNews.com cut Pure Storage from a "buy" rating to a "hold" rating in a report on Thursday, February 27th. Finally, Evercore ISI boosted 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. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $73.20.
View Our Latest Research Report on PSTG
Pure Storage Stock Down 0.7 %
Shares of NYSE:PSTG traded down $0.39 on Monday, reaching $52.49. The company had a trading volume of 733,613 shares, compared to its average volume of 3,018,067. The stock has a market capitalization of $17.12 billion, a P/E ratio of 138.12, a P/E/G ratio of 5.12 and a beta of 1.09. The stock has a 50-day moving average price of $61.33 and a 200 day moving average price of $57.42. Pure Storage has a twelve month low of $44.76 and a twelve month high of $73.67.
Insiders Place Their Bets
In related news, insider Ajay Singh sold 19,972 shares of the company's stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $61.58, for a total transaction of $1,229,875.76. Following the sale, the insider now 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 6.00% of the company's stock.
Institutional Investors Weigh In On Pure Storage
Several hedge funds have recently bought and sold shares of PSTG. World Investment Advisors lifted its position in shares of Pure Storage by 1.6% in the fourth quarter. World Investment Advisors now owns 9,635 shares of the technology company's stock valued at $592,000 after buying an additional 150 shares during the last quarter. Peapack Gladstone Financial Corp boosted its position 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 worth $355,000 after purchasing an additional 150 shares during the period. HighPoint Advisor Group LLC increased its holdings 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 valued at $396,000 after purchasing an additional 157 shares during the last quarter. Parallel Advisors LLC grew its stake in Pure Storage by 1.4% in the 4th quarter. Parallel Advisors LLC now owns 13,271 shares of the technology company's stock valued at $815,000 after buying an additional 186 shares during the last quarter. Finally, Cherry Creek Investment Advisors Inc. boosted its position in shares of Pure Storage by 0.3% in the fourth quarter. Cherry Creek Investment Advisors Inc. now owns 67,232 shares of the technology company's stock valued at $4,130,000 after acquiring an additional 189 shares during the period. 83.42% of the stock is currently owned by institutional investors and hedge funds.
About Pure Storage
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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.
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