Zacks Research Comments on Pure Storage FY2028 Earnings

Pure Storage, Inc. (NYSE:PSTG) – Equities research analysts at Zacks Research issued their FY2028 earnings per share (EPS) estimates for Pure Storage in a research note issued on Wednesday, March 19th. Zacks Research analyst R. Department expects that the technology company will earn $0.78 per share for the year. The consensus estimate for Pure Storage’s current full-year earnings is $0.44 per share.

Other equities research analysts have also issued research reports about the company. Morgan Stanley lifted their price objective on Pure Storage from $62.00 to $72.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 17th. Wells Fargo & Company boosted their price target on shares of Pure Storage from $75.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Citigroup dropped their price target on shares of Pure Storage from $80.00 to $77.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. TD Cowen lifted their price objective on shares of Pure Storage from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, Lake Street Capital increased their target price on Pure Storage from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Pure Storage presently has a consensus rating of “Moderate Buy” and an average price target of $73.20.

Pure Storage Price Performance

Shares of PSTG opened at $51.11 on Friday. Pure Storage has a 1 year low of $44.76 and a 1 year high of $73.67. The stock’s fifty day moving average price is $61.53 and its two-hundred day moving average price is $57.24. The firm has a market cap of $16.67 billion, a PE ratio of 134.51, a PEG ratio of 5.12 and a beta of 1.09.

Insider Activity

In related news, CRO Dan Fitzsimons sold 8,895 shares of the firm’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 directly owns 72,927 shares in the company, valued at $4,675,349.97. This trade represents a 10.87 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $1,229,875.76. Following the completion of the sale, the insider now owns 262,144 shares of the company’s stock, valued at $16,142,827.52. The trade was a 7.08 % decrease in their position. The disclosure for this sale can be found here. 6.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Pure Storage

Institutional investors have recently added to or reduced their stakes in the company. McIlrath & Eck LLC purchased a new stake in Pure Storage in the 4th quarter worth approximately $25,000. Sugar Maple Asset Management LLC purchased a new stake in Pure Storage in the fourth quarter worth $29,000. Compass Financial Services Inc bought a new stake in Pure Storage in the fourth quarter valued at $29,000. Crowley Wealth Management Inc. bought a new stake in Pure Storage in the fourth quarter valued at $31,000. Finally, Larson Financial Group LLC increased its position in Pure Storage by 49.1% during the 3rd quarter. Larson Financial Group LLC now owns 644 shares of the technology company’s stock valued at $32,000 after purchasing an additional 212 shares during the period. Hedge funds and other institutional investors own 83.42% of the company’s stock.

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.