Pure Storage (NYSE:PSTG) Given New $63.00 Price Target at UBS Group

Pure Storage (NYSE:PSTG) had its target price boosted by UBS Group from $60.00 to $63.00 in a research note released on Thursday morning,Benzinga reports. The brokerage currently has a sell rating on the technology company’s stock.

Several other research firms also recently weighed in on PSTG. JPMorgan Chase & Co. lowered their target price on Pure Storage from $110.00 to $105.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 3rd. Wedbush reaffirmed an “outperform” rating and set a $100.00 price objective on shares of Pure Storage in a research report on Monday. Susquehanna set a $105.00 price objective on Pure Storage in a research note on Wednesday, December 3rd. Oppenheimer assumed coverage on shares of Pure Storage in a research note on Monday, November 17th. They set an “outperform” rating and a $120.00 target price on the stock. Finally, Piper Sandler reiterated a “buy” rating on shares of Pure Storage in a research report on Thursday. Twelve analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $94.32.

Pure Storage Trading Down 10.3%

PSTG opened at $66.00 on Thursday. The company’s 50 day moving average is $70.45 and its 200 day moving average is $77.44. The company has a market cap of $21.79 billion, a price-to-earnings ratio of 120.00, a PEG ratio of 6.45 and a beta of 1.27. Pure Storage has a 12-month low of $34.51 and a 12-month high of $100.59.

Pure Storage (NYSE:PSTG) last released its quarterly earnings results on Tuesday, December 2nd. The technology company reported $0.58 earnings per share for the quarter, hitting the consensus estimate of $0.58. Pure Storage had a net margin of 5.14% and a return on equity of 14.69%. The business had revenue of $964.45 million for the quarter, compared to the consensus estimate of $955.60 million. During the same period last year, the firm earned $0.50 earnings per share. The company’s quarterly revenue was up 16.1% on a year-over-year basis. As a group, analysts predict that Pure Storage will post 0.44 EPS for the current fiscal year.

Insider Activity at Pure Storage

In other Pure Storage news, insider John Colgrove sold 100,000 shares of the stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $71.31, for a total transaction of $7,131,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ajay Singh sold 7,178 shares of the business’s stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $67.14, for a total transaction of $481,930.92. Following the completion of the transaction, the insider directly owned 215,091 shares in the company, valued at $14,441,209.74. This trade represents a 3.23% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Norges Bank bought a new position in Pure Storage during the fourth quarter valued at approximately $265,327,000. Arrowstreet Capital Limited Partnership increased its stake in Pure Storage by 786.9% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 4,027,610 shares of the technology company’s stock worth $337,554,000 after acquiring an additional 3,573,493 shares during the last quarter. Atreides Management LP purchased a new stake in shares of Pure Storage during the 2nd quarter worth approximately $204,552,000. Polar Capital Holdings Plc boosted its position in shares of Pure Storage by 90.5% during the 3rd quarter. Polar Capital Holdings Plc now owns 2,831,141 shares of the technology company’s stock valued at $237,278,000 after acquiring an additional 1,345,207 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of Pure Storage by 62.7% in the fourth quarter. AQR Capital Management LLC now owns 3,414,715 shares of the technology company’s stock valued at $228,820,000 after purchasing an additional 1,315,351 shares in the last quarter. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Pure Storage News Summary

Here are the key news stories impacting Pure Storage this week:

• Positive Sentiment: Q4 beat and strong guidance — PSTG reported its first $1B quarter, revenue up ~20% year/year, adjusted EPS above estimates, and Q1/FY27 revenue guidance ahead of Street expectations; this underpins the re-rating opportunity tied to durable hyperscale momentum. PSTG Beats on Q4 Earnings & Sales
• Positive Sentiment: Strategic rebrand and acquisition — the company rebranded to “Everpure” and announced a deal to buy 1touch to add data discovery/semantic/context/security capabilities, signaling a shift from hardware-centric storage toward data intelligence/AI-enabled services. That strategy can expand addressable market and margin optionality. Everpure Rebrand And 1touch Deal
• Positive Sentiment: Analyst support — Barclays raised its price target to $81 (equal-weight) and Wedbush reiterated an Outperform, providing institutional validation that some firms see upside from the strategic shift and beat. Barclays PT Raise Wedbush Reiterates Outperform
• Neutral Sentiment: Corporate disclosure — company posted the formal press release, slide deck and earnings-call transcript detailing results, RPO growth >40%, and strategy execution; useful for due diligence but not an immediate directional catalyst on its own. Earnings PR Slide Deck
• Negative Sentiment: Conflicting sell-side view — UBS raised its price target modestly to $63 but kept a “sell” rating, which supplies a nearby low anchor for sellers and may amplify downside pressure into the stock. UBS PT Raise
• Negative Sentiment: Valuation/technical headwinds and heavy volume — PSTG trades at a high P/E, sits below its 50- and 200-day moving averages, and is seeing elevated volume today, all of which can accelerate downward moves as investors lock in gains after the earlier post-earnings rally.

Pure Storage Company Profile

Pure Storage, Inc (NYSE: PSTG) is a technology company that designs and sells data storage hardware and software for enterprise and cloud environments. The company is best known for its all-flash storage arrays that are engineered to deliver high performance, low latency and simplified management compared with traditional disk-based systems. Its product portfolio includes purpose-built arrays and software aimed at transactional databases, virtualized infrastructures, analytics and large-scale file/object workloads.

Key product and software offerings include the FlashArray family for block storage and FlashBlade for file and object workloads, together with Purity, the company’s storage operating environment.