Pure Storage (NYSE:PSTG) Releases Earnings Results, Beats Estimates By $0.04 EPS

Pure Storage (NYSE:PSTG) posted its quarterly earnings data on Wednesday. The technology company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04, Briefing.com reports. The business had revenue of $778.49 million during the quarter, compared to analyst estimates of $770.03 million. Pure Storage had a net margin of 4.22% and a return on equity of 16.06%. The company’s revenue was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.32 earnings per share. Pure Storage updated its Q2 2026 guidance to EPS and its FY 2026 guidance to EPS.

Pure Storage Stock Down 2.6%

Shares of PSTG stock opened at $53.69 on Friday. The business has a 50 day moving average of $47.38 and a two-hundred day moving average of $55.89. Pure Storage has a 52 week low of $34.51 and a 52 week high of $73.67. The company has a market cap of $17.50 billion, a P/E ratio of 141.28, a PEG ratio of 5.12 and a beta of 1.05.

Insider Activity at Pure Storage

In related news, CRO Dan Fitzsimons sold 872 shares of Pure Storage stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $51.51, for a total value of $44,916.72. Following the sale, the executive now directly owns 89,351 shares in the company, valued at $4,602,470.01. This trade represents a 0.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John Colgrove sold 100,000 shares of Pure Storage stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $52.01, for a total transaction of $5,201,000.00. Following the completion of the sale, the insider now owns 801,959 shares in the company, valued at approximately $41,709,887.59. This represents a 11.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 107,849 shares of company stock worth $5,531,346 in the last ninety days. 5.60% of the stock is owned by insiders.

Institutional Trading of Pure Storage

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. grew its stake in shares of Pure Storage by 109.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,137,939 shares of the technology company’s stock worth $50,377,000 after purchasing an additional 595,307 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of Pure Storage in the 1st quarter worth approximately $541,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Pure Storage by 129.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,742 shares of the technology company’s stock worth $387,000 after purchasing an additional 4,926 shares during the last quarter. Finally, Empowered Funds LLC grew its stake in shares of Pure Storage by 4.2% in the 1st quarter. Empowered Funds LLC now owns 4,790 shares of the technology company’s stock worth $212,000 after purchasing an additional 194 shares during the last quarter. 83.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PSTG has been the subject of several research analyst reports. Morgan Stanley upped their price target on shares of Pure Storage from $40.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 20th. Piper Sandler reaffirmed an “overweight” rating and set a $66.00 price target (up previously from $53.00) on shares of Pure Storage in a research report on Thursday. JPMorgan Chase & Co. dropped their price target on shares of Pure Storage from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Thursday. Evercore ISI upped their price target on shares of Pure Storage from $60.00 to $70.00 and gave the stock an “outperform” rating in a research report on Friday, May 23rd. Finally, Bank of America dropped their price target on shares of Pure Storage from $77.00 to $73.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. One research 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. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.40.

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.