Evercore ISI Increases Pure Storage (NYSE:PSTG) Price Target to $105.00

Pure Storage (NYSE:PSTG) had its price target increased by research analysts at Evercore ISI from $90.00 to $105.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “outperform” rating on the technology company’s stock. Evercore ISI’s price target indicates a potential upside of 15.71% from the stock’s previous close.

Other analysts have also recently issued research reports about the company. Citigroup lifted their price objective on Pure Storage from $70.00 to $81.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Needham & Company LLC raised their price target on Pure Storage from $85.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, September 26th. Cowen reissued a “buy” rating on shares of Pure Storage in a research note on Thursday, August 28th. Northland Securities raised their price target on Pure Storage from $63.00 to $71.00 and gave the stock a “market perform” rating in a research note on Thursday, August 28th. Finally, Guggenheim raised their price target on Pure Storage from $93.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, September 26th. Fourteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $88.56.

Pure Storage Trading Down 0.3%

Pure Storage stock opened at $90.75 on Monday. The stock has a market cap of $29.82 billion, a PE ratio of 221.34, a P/E/G ratio of 8.39 and a beta of 1.22. The stock has a 50-day moving average price of $79.62 and a 200 day moving average price of $61.80. Pure Storage has a 52 week low of $34.51 and a 52 week high of $95.14.

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

Insider Transactions at Pure Storage

In other news, insider John Colgrove sold 198,749 shares of Pure Storage stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $60.32, for a total value of $11,988,539.68. Following the transaction, the insider directly owned 500,000 shares of the company’s stock, valued at $30,160,000. The trade was a 28.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CRO Dan Fitzsimons sold 6,051 shares of Pure Storage stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $87.42, for a total value of $528,978.42. Following the completion of the transaction, the executive directly owned 62,759 shares in the company, valued at $5,486,391.78. This represents a 8.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 743,111 shares of company stock valued at $51,703,009. 5.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Pure Storage

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Pure Storage by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 33,268,006 shares of the technology company’s stock valued at $1,915,572,000 after purchasing an additional 308,738 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in shares of Pure Storage by 25.9% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 9,075,944 shares of the technology company’s stock valued at $401,793,000 after purchasing an additional 1,868,782 shares in the last quarter. Geode Capital Management LLC lifted its position in Pure Storage by 1.7% during the 2nd quarter. Geode Capital Management LLC now owns 7,273,696 shares of the technology company’s stock worth $417,830,000 after acquiring an additional 123,320 shares in the last quarter. William Blair Investment Management LLC lifted its position in Pure Storage by 112.9% during the 2nd quarter. William Blair Investment Management LLC now owns 4,926,836 shares of the technology company’s stock worth $283,687,000 after acquiring an additional 2,612,300 shares in the last quarter. Finally, Norges Bank acquired a new position in Pure Storage during the 2nd quarter worth approximately $225,203,000. 83.42% of the stock is owned by institutional investors and hedge funds.

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.