Wedbush Brokers Decrease Earnings Estimates for Pure Storage

Pure Storage, Inc. (NYSE:PSTG) – Equities research analysts at Wedbush dropped their Q3 2026 earnings estimates for Pure Storage in a report issued on Thursday, February 27th. Wedbush analyst M. Bryson now anticipates that the technology company will earn $0.26 per share for the quarter, down from their prior estimate of $0.31. The consensus estimate for Pure Storage’s current full-year earnings is $0.44 per share.

A number of other equities research analysts have also recently commented on PSTG. Piper Sandler upgraded shares of Pure Storage from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $56.00 to $76.00 in a research note on Wednesday, December 4th. JPMorgan Chase & Co. raised their price objective on Pure Storage from $60.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Evercore ISI lifted their price target on shares of Pure Storage from $70.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. TD Cowen lifted their target price on Pure Storage from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, Bank of America dropped their price target on Pure Storage from $77.00 to $73.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, Pure Storage has an average rating of “Moderate Buy” and an average price target of $73.20.

Pure Storage Price Performance

Shares of Pure Storage stock opened at $49.50 on Monday. The company’s fifty day simple moving average is $65.37 and its 200-day simple moving average is $58.09. Pure Storage has a 1-year low of $44.76 and a 1-year high of $73.67. The stock has a market capitalization of $16.15 billion, a PE ratio of 130.27, a P/E/G ratio of 5.12 and a beta of 1.09.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PSTG. McIlrath & Eck LLC purchased a new position in Pure Storage during the fourth quarter worth about $25,000. Sugar Maple Asset Management LLC purchased a new position in Pure Storage in the fourth quarter worth approximately $29,000. Compass Financial Services Inc acquired a new position in Pure Storage during the 4th quarter worth approximately $29,000. Crowley Wealth Management Inc. acquired a new position in shares of Pure Storage during the 4th quarter worth about $31,000. Finally, Larson Financial Group LLC raised its holdings in Pure Storage by 49.1% during the third quarter. Larson Financial Group LLC now owns 644 shares of the technology company’s stock worth $32,000 after purchasing an additional 212 shares in the last quarter. 83.42% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Pure Storage

In other news, CAO Mona Chu sold 8,311 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $62.16, for a total transaction of $516,611.76. Following the transaction, the chief accounting officer now owns 67,681 shares in the company, valued at $4,207,050.96. This trade represents a 10.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John Colgrove sold 100,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $65.55, for a total transaction of $6,555,000.00. Following the sale, the insider now directly owns 7,316,722 shares of the company’s stock, valued at $479,611,127.10. This represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 137,178 shares of company stock worth $8,871,746. Company insiders own 6.00% 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.