William Blair Estimates Pure Storage FY2027 Earnings

Pure Storage, Inc. (NYSE:PSTG) – Investment analysts at William Blair issued their FY2027 EPS estimates for Pure Storage in a report issued on Thursday, February 27th. William Blair analyst J. Ader anticipates that the technology company will post earnings of $0.95 per share for the year. William Blair has a “Outperform” rating on the stock. The consensus estimate for Pure Storage’s current full-year earnings is $0.44 per share.

Several other analysts have also commented on PSTG. Piper Sandler upgraded shares of Pure Storage from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $56.00 to $76.00 in a report on Wednesday, December 4th. Needham & Company LLC restated a “buy” rating and issued a $75.00 target price on shares of Pure Storage in a research note on Thursday. TD Cowen lifted their price target on Pure Storage from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Bank of America decreased their price objective on Pure Storage from $77.00 to $73.00 and set a “neutral” rating for the company in a report on Thursday. Finally, Morgan Stanley boosted their target price on shares of Pure Storage from $62.00 to $72.00 and gave the company an “equal weight” rating in a report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, Pure Storage currently has an average rating of “Moderate Buy” and a consensus price target of $73.20.

Pure Storage Trading Down 1.5 %

NYSE:PSTG opened at $52.42 on Monday. The company has a 50-day moving average price of $65.66 and a 200-day moving average price of $58.19. The stock has a market cap of $17.10 billion, a price-to-earnings ratio of 137.95, a P/E/G ratio of 5.12 and a beta of 1.09. Pure Storage has a 12 month low of $44.76 and a 12 month high of $73.67.

Insider Activity at Pure Storage

In other Pure Storage news, insider John Colgrove sold 100,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $65.55, for a total transaction of $6,555,000.00. Following the transaction, the insider now owns 7,316,722 shares in the company, valued at approximately $479,611,127.10. This represents a 1.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Mona Chu sold 8,311 shares of Pure Storage 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 completion of the sale, the chief accounting officer now owns 67,681 shares of the company’s stock, valued at $4,207,050.96. This represents a 10.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 137,178 shares of company stock valued at $8,871,746 over the last ninety days. Insiders own 6.00% of the company’s stock.

Hedge Funds Weigh In On Pure Storage

Several hedge funds and other institutional investors have recently modified their holdings of the company. McIlrath & Eck LLC bought a new position in shares of Pure Storage in the 4th quarter worth approximately $25,000. Sugar Maple Asset Management LLC purchased a new stake in Pure Storage during the fourth quarter valued at approximately $29,000. Compass Financial Services Inc bought a new position in Pure Storage in the fourth quarter worth approximately $29,000. Crowley Wealth Management Inc. purchased a new position in shares of Pure Storage during the 4th quarter worth $31,000. Finally, Larson Financial Group LLC grew its position in shares of 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 acquiring an additional 212 shares during the period. 83.42% of the stock is owned by institutional investors.

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.