Zacks Research Decreases Earnings Estimates for Pure Storage

Pure Storage, Inc. (NYSE:PSTG) – Stock analysts at Zacks Research dropped their Q1 2026 earnings per share estimates for shares of Pure Storage in a research report issued to clients and investors on Wednesday, March 19th. Zacks Research analyst R. Department now anticipates that the technology company will earn ($0.04) per share for the quarter, down from their prior estimate of $0.04. The consensus estimate for Pure Storage’s current full-year earnings is $0.44 per share. Zacks Research also issued estimates for Pure Storage’s Q2 2026 earnings at $0.08 EPS, Q3 2026 earnings at $0.17 EPS, Q4 2026 earnings at $0.21 EPS, FY2026 earnings at $0.43 EPS, Q1 2027 earnings at $0.04 EPS, Q3 2027 earnings at $0.21 EPS, Q4 2027 earnings at $0.26 EPS and FY2027 earnings at $0.64 EPS.

A number of other brokerages have also recently commented on PSTG. Barclays lifted their price objective on shares of Pure Storage from $56.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 4th. Needham & Company LLC reiterated a “buy” rating and issued a $75.00 price target on shares of Pure Storage in a research report on Thursday, February 27th. Stifel Nicolaus upped their price objective on Pure Storage from $60.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. StockNews.com cut Pure Storage from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. Finally, Lake Street Capital boosted their target price on Pure Storage from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $73.20.

Pure Storage Stock Performance

Shares of PSTG opened at $52.96 on Monday. The stock has a market capitalization of $17.28 billion, a PE ratio of 139.37, a P/E/G ratio of 5.12 and a beta of 1.09. The company’s fifty day moving average is $61.12 and its 200 day moving average is $57.47. Pure Storage has a fifty-two week low of $44.76 and a fifty-two week high of $73.67.

Hedge Funds Weigh In On Pure Storage

Several institutional investors and hedge funds have recently added to or reduced their stakes in PSTG. FMR LLC grew its holdings in Pure Storage by 0.8% in the third quarter. FMR LLC now owns 49,153,797 shares of the technology company’s stock worth $2,469,487,000 after purchasing an additional 368,643 shares during the last quarter. Vanguard Group Inc. grew its stake in Pure Storage by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 33,443,732 shares of the technology company’s stock worth $2,054,448,000 after buying an additional 615,931 shares during the last quarter. State Street Corp increased its position in Pure Storage by 6.5% during the 3rd quarter. State Street Corp now owns 10,262,666 shares of the technology company’s stock valued at $515,596,000 after buying an additional 626,427 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its stake in Pure Storage by 5.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 7,207,162 shares of the technology company’s stock valued at $442,736,000 after buying an additional 401,035 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Pure Storage by 25.4% in the fourth quarter. Geode Capital Management LLC now owns 6,748,553 shares of the technology company’s stock worth $413,982,000 after acquiring an additional 1,366,458 shares in the last quarter. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Insider Transactions at Pure Storage

In related news, insider Ajay Singh sold 19,972 shares of Pure Storage stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $61.58, for a total transaction of $1,229,875.76. Following the transaction, the insider now directly owns 262,144 shares of the company’s stock, valued at $16,142,827.52. This trade represents a 7.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate 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.