Pure Storage (PSTG) Stock Forecast, Price Target & Predictions
PSTG Stock Forecast
Pure Storage stock forecast is as follows: an average price target of $60.06 (represents a 21.14% upside from PSTG’s last price of $49.58) and a rating consensus of 'Buy', based on 18 wall street analysts offering a 1-year stock forecast.
PSTG Price Target
The average price target for Pure Storage (PSTG) is $60.06 based on 1-year price targets from 18 Wall Street analysts in the past 3 months, with a price target range of $80.00 to $34.00. This represents a potential 21.14% upside from PSTG's last price of $49.58.
PSTG Analyst Ratings
According to 18 Wall Street analysts, Pure Storage's rating consensus is 'Buy'. The analyst rating breakdown for PSTG stock is 1 'Strong Buy' (5.56%), 11 'Buy' (61.11%), 4 'Hold' (22.22%), 2 'Sell' (11.11%), and 0 'Strong Sell' (0.00%).
Pure Storage Price Target by Analyst
| Date | Analyst | Company | Price Target | Price when Published | Price Target/Price when Published | Price Target/Last Closing Price |
|---|---|---|---|---|---|---|
| Aug 29, 2024 | Simon Leopold | Raymond James | $70.00 | $59.76 | 17.14% | 41.19% |
| Aug 29, 2024 | James Fish | Piper Sandler | $56.00 | $59.76 | -6.29% | 12.95% |
| Aug 29, 2024 | Asiya Merchant | Citigroup | $67.00 | $59.76 | 12.12% | 35.14% |
| Aug 19, 2024 | James Fish | Piper Sandler | $60.00 | $62.42 | -3.88% | 21.02% |
| Jun 21, 2024 | Aaron Rakers | Wells Fargo | $75.00 | $64.08 | 17.04% | 51.27% |
| Jun 12, 2024 | Meta Marshall | Morgan Stanley | $60.00 | $66.56 | -9.86% | 21.02% |
| May 30, 2024 | Eric Martinuzzi | Loop Capital Markets | $70.00 | $62.98 | 11.15% | 41.19% |
| May 30, 2024 | Mike Cikos | Needham | $80.00 | $62.96 | 27.06% | 61.36% |
| May 30, 2024 | Matthew Sheerin | Stifel Nicolaus | $65.00 | $62.90 | 3.34% | 31.10% |
| May 30, 2024 | Mehdi Hosseini | Susquehanna | $75.00 | $62.89 | 19.26% | 51.27% |
The latest Pure Storage stock forecast, released on Aug 29, 2024 by Simon Leopold from Raymond James, set a price target of $70.00, which represents a 17.14% increase from the stock price at the time of the forecast ($59.76), and a 41.19% increase from PSTG last price ($49.58).
Pure Storage Price Target by Period
| 1M | 3M | 12M | |
|---|---|---|---|
| # Anlaysts | 4 | 5 | 15 |
| Avg Price Target | $63.25 | $65.60 | $65.93 |
| Last Closing Price | $49.58 | $49.58 | $49.58 |
| Upside/Downside | 27.57% | 32.31% | 32.98% |
In the current month, the average price target of Pure Storage stock is $63.25, according to 4 Wall Street analysts offering twelve months forecast. The average price target represents a 27.57% increase as opposed to Pure Storage's last price of $49.58. This month's average price target is down -3.58% compared to last quarter, and down -4.06% compared to last year.
Analyst Ratings Upgrades/Downgrades
| Date | Company | Previous Rating | New Rating | Rating Change |
|---|---|---|---|---|
| Aug 29, 2024 | Raymond James | Outperform | Outperform | Hold |
| Aug 29, 2024 | Piper Sandler | Neutral | Neutral | Hold |
| Aug 29, 2024 | Citigroup | Buy | Buy | Hold |
| Aug 19, 2024 | Wells Fargo | Buy | Buy | Hold |
| Aug 19, 2024 | Piper Sandler | - | Neutral | Initialise |
| Jul 02, 2024 | UBS | Buy | Sell | Downgrade |
| Jun 21, 2024 | Citigroup | Buy | Buy | Hold |
| Jun 21, 2024 | Wells Fargo | Overweight | Overweight | Hold |
| Jun 12, 2024 | Wells Fargo | Buy | Buy | Hold |
| Jun 12, 2024 | Wedbush | Underperform | Underperform | Hold |
Pure Storage's last stock rating was published by Raymond James on Aug 29, 2024. The company gave PSTG a "Outperform" rating, the same as its previous rate.
Pure Storage Financial Forecast
Pure Storage Revenue Forecast
| Jan 28 | Oct 27 | Jul 27 | May 27 | Jan 27 | Oct 26 | Jul 26 | May 26 | Jan 26 | Oct 25 | Jul 25 | May 25 | Jan 25 | Oct 24 | Jul 24 | May 24 | Jan 24 | Oct 23 | Jul 23 | May 23 | Jan 23 | Oct 22 | Aug 22 | May 22 | Feb 22 | Nov 21 | Aug 21 | May 21 | Feb 21 | Nov 20 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | $688.67M | $589.31M | - | - | $646.77M | $620.40M | $708.57M | - | $496.83M | $412.71M | - | $410.62M |
| Avg Forecast | $1.28B | $1.13B | $1.10B | $1.02B | $1.04B | $999.48M | $944.72M | $852.62M | $973.32M | $908.75M | $851.26M | $770.62M | $856.25M | $814.96M | $756.03M | $681.03M | $784.31M | $761.49M | $681.95M | $559.80M | $811.57M | $672.12M | $636.03M | $521.71M | $630.93M | $530.61M | $471.59M | $405.87M | $480.25M | $406.63M |
| High Forecast | $1.30B | $1.16B | $1.12B | $1.05B | $1.06B | $1.02B | $964.69M | $870.64M | $993.89M | $927.95M | $869.25M | $786.91M | $886.29M | $818.48M | $772.01M | $695.42M | $800.88M | $769.59M | $696.36M | $571.63M | $828.73M | $686.33M | $636.03M | $521.71M | $630.93M | $530.61M | $471.59M | $405.87M | $480.25M | $406.63M |
| Low Forecast | $1.25B | $1.11B | $1.08B | $1.01B | $1.02B | $980.08M | $926.38M | $836.07M | $954.42M | $891.10M | $834.74M | $755.66M | $827.99M | $811.17M | $741.36M | $667.81M | $769.08M | $760.03M | $668.71M | $548.93M | $795.82M | $659.08M | $636.03M | $521.71M | $630.93M | $530.61M | $471.59M | $405.87M | $480.25M | $406.63M |
| # Analysts | 5 | 6 | 12 | 11 | 10 | 10 | 9 | 8 | 7 | 6 | 5 | 5 | 13 | 13 | 6 | 6 | 6 | 13 | 6 | 12 | 11 | 10 | 5 | 5 | 5 | 6 | 6 | 6 | 6 | 4 |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 1.01% | 1.05% | - | - | 1.02% | 1.19% | 1.12% | - | 1.05% | 1.02% | - | 1.01% |
Pure Storage's average Quarter revenue forecast for Oct 23 based on 13 analysts is $761.49M, with a low forecast of $760.03M, and a high forecast of $769.59M. PSTG's average Quarter revenue forecast represents a 10.57% increase compared to the company's last Quarter revenue of $688.67M (Jul 23).
Pure Storage EBITDA Forecast
| Jan 28 | Oct 27 | Jul 27 | May 27 | Jan 27 | Oct 26 | Jul 26 | May 26 | Jan 26 | Oct 25 | Jul 25 | May 25 | Jan 25 | Oct 24 | Jul 24 | May 24 | Jan 24 | Oct 23 | Jul 23 | May 23 | Jan 23 | Oct 22 | Aug 22 | May 22 | Feb 22 | Nov 21 | Aug 21 | May 21 | Feb 21 | Nov 20 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 5 | 6 | 12 | 11 | 10 | 10 | 9 | 8 | 7 | 6 | 5 | 5 | 13 | 13 | 6 | 6 | 6 | 13 | 6 | 12 | 11 | 10 | 5 | 5 | 5 | 6 | 6 | 6 | 6 | 4 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | $57.53M | $-71.81M | - | - | $38.25M | $18.10M | $53.22M | - | $-13.06M | $-53.40M | - | $-43.90M |
| Avg Forecast | $-979.84K | $-868.16K | $-842.61K | $-786.24K | $-798.29K | $-766.66K | $-724.66K | $-654.01K | $-746.59K | $-697.06K | $-652.97K | $-591.11K | $-656.79K | $-625.12K | $-579.92K | $39.62M | $-601.61K | $-584.11K | $-523.09K | $36.02M | $-622.52K | $-93.51M | $-487.88K | $32.75M | $-483.96K | $-407.01K | $-361.74K | $-12.34M | $-368.38K | $-311.91K |
| High Forecast | $-960.82K | $-851.30K | $-826.26K | $-770.97K | $-782.79K | $-751.78K | $-710.59K | $-641.32K | $-732.10K | $-683.53K | $-640.29K | $-579.64K | $-635.12K | $-622.22K | $-568.66K | $47.55M | $-589.93K | $-582.99K | $-512.94K | $43.23M | $-610.44K | $-74.81M | $-487.88K | $39.30M | $-483.96K | $-407.01K | $-361.74K | $-9.87M | $-368.38K | $-311.91K |
| Low Forecast | $-1.00M | $-886.50K | $-860.42K | $-802.85K | $-815.16K | $-782.87K | $-739.97K | $-667.83K | $-762.37K | $-711.79K | $-666.77K | $-603.61K | $-679.83K | $-627.82K | $-592.18K | $31.70M | $-614.32K | $-590.32K | $-534.15K | $28.82M | $-635.68K | $-112.21M | $-487.88K | $26.20M | $-483.96K | $-407.01K | $-361.74K | $-14.80M | $-368.38K | $-311.91K |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -109.97% | -1.99% | - | - | -78.40% | 0.55% | -109.96% | - | 36.11% | 4.33% | - | 140.74% |
13 analysts predict PSTG's average Quarter EBITDA for Oct 23 to be $-584.11K, with a high of $-582.99K and a low of $-590.32K. This is -101.02% lower than Pure Storage's previous annual EBITDA (Jul 23) of $57.53M.
Pure Storage Net Income Forecast
| Jan 28 | Oct 27 | Jul 27 | May 27 | Jan 27 | Oct 26 | Jul 26 | May 26 | Jan 26 | Oct 25 | Jul 25 | May 25 | Jan 25 | Oct 24 | Jul 24 | May 24 | Jan 24 | Oct 23 | Jul 23 | May 23 | Jan 23 | Oct 22 | Aug 22 | May 22 | Feb 22 | Nov 21 | Aug 21 | May 21 | Feb 21 | Nov 20 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 5 | 6 | 12 | 11 | 10 | 10 | 9 | 8 | 7 | 6 | 5 | 5 | 13 | 13 | 6 | 6 | 6 | 13 | 6 | 12 | 11 | 10 | 5 | 5 | 5 | 6 | 6 | 6 | 6 | 4 |
| Net Income | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | $-7.12M | $-67.40M | - | - | $10.92M | $-11.54M | $14.94M | - | $-45.27M | $-84.21M | - | $-74.22M |
| Avg Forecast | $291.93M | $291.93M | $226.67M | $161.42M | $201.34M | $188.43M | $181.97M | $139.12M | $200.11M | $171.09M | $150.68M | $106.92M | $155.59M | $141.98M | $126.63M | $11.13M | $149.79M | $136.92M | $94.71M | $10.12M | $132.74M | $-169.11M | $70.53M | $9.20M | $84.82M | $39.98M | $17.10M | $-31.96M | $29.58M | $-701.31K |
| High Forecast | $299.95M | $299.95M | $232.90M | $165.85M | $206.87M | $193.60M | $186.97M | $142.94M | $205.61M | $175.79M | $154.82M | $109.86M | $185.38M | $155.19M | $130.11M | $13.35M | $153.90M | $150.27M | $97.32M | $12.14M | $136.38M | $-135.29M | $70.53M | $11.03M | $84.82M | $39.98M | $17.10M | $-25.57M | $29.58M | $-701.31K |
| Low Forecast | $284.56M | $284.56M | $220.95M | $157.34M | $196.26M | $183.67M | $177.38M | $135.61M | $195.06M | $166.78M | $146.88M | $104.22M | $142.35M | $128.77M | $123.44M | $8.90M | $146.01M | $120.22M | $92.32M | $8.09M | $129.39M | $-202.94M | $70.53M | $7.36M | $84.82M | $39.98M | $17.10M | $-38.35M | $29.58M | $-701.31K |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -0.08% | -6.66% | - | - | 0.15% | -1.25% | 0.18% | - | -2.65% | 2.63% | - | 105.83% |
Pure Storage's average Quarter net income forecast for Oct 22 is $-169.11M, with a range of $-202.94M to $-135.29M. PSTG's average Quarter net income forecast represents a -1648.37% decrease compared to the company's last Quarter net income of $10.92M (Aug 22).
Pure Storage SG&A Forecast
| Jan 28 | Oct 27 | Jul 27 | May 27 | Jan 27 | Oct 26 | Jul 26 | May 26 | Jan 26 | Oct 25 | Jul 25 | May 25 | Jan 25 | Oct 24 | Jul 24 | May 24 | Jan 24 | Oct 23 | Jul 23 | May 23 | Jan 23 | Oct 22 | Aug 22 | May 22 | Feb 22 | Nov 21 | Aug 21 | May 21 | Feb 21 | Nov 20 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 5 | 6 | 12 | 11 | 10 | 10 | 9 | 8 | 7 | 6 | 5 | 5 | 13 | 13 | 6 | 6 | 6 | 13 | 6 | 12 | 11 | 10 | 5 | 5 | 5 | 6 | 6 | 6 | 6 | 4 |
| SG&A | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | $293.56M | $299.83M | - | - | $263.51M | $269.72M | $283.43M | - | $233.85M | $226.64M | - | $218.75M |
| Avg Forecast | $602.82M | $534.11M | $518.39M | $483.71M | $491.13M | $471.67M | $445.83M | $402.36M | $459.32M | $428.85M | $401.72M | $363.67M | $404.07M | $384.59M | $356.78M | $211.04M | $370.12M | $359.35M | $321.82M | $191.86M | $382.99M | $579.45M | $300.15M | $174.42M | $297.74M | $250.40M | $222.55M | $152.34M | $226.63M | $191.89M |
| High Forecast | $615.56M | $545.40M | $529.35M | $493.93M | $501.50M | $481.63M | $455.25M | $410.87M | $469.03M | $437.91M | $410.21M | $371.35M | $418.25M | $386.25M | $364.32M | $253.25M | $377.95M | $363.18M | $328.62M | $230.23M | $391.08M | $695.34M | $300.15M | $209.30M | $297.74M | $250.40M | $222.55M | $182.80M | $226.63M | $191.89M |
| Low Forecast | $591.12M | $523.74M | $508.33M | $474.32M | $481.59M | $462.51M | $437.17M | $394.55M | $450.40M | $420.52M | $393.92M | $356.61M | $390.74M | $382.80M | $349.85M | $168.84M | $362.94M | $358.66M | $315.57M | $153.49M | $375.56M | $463.56M | $300.15M | $139.53M | $297.74M | $250.40M | $222.55M | $121.87M | $226.63M | $191.89M |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0.91% | 1.56% | - | - | 0.88% | 1.55% | 0.95% | - | 1.05% | 1.49% | - | 1.14% |
Pure Storage's average Quarter SG&A projection for Oct 23 is $359.35M, based on 13 Wall Street analysts, with a range of $358.66M to $363.18M. The forecast indicates a 22.41% rise compared to PSTG last annual SG&A of $293.56M (Jul 23).
Pure Storage EPS Forecast
| Jan 28 | Oct 27 | Jul 27 | May 27 | Jan 27 | Oct 26 | Jul 26 | May 26 | Jan 26 | Oct 25 | Jul 25 | May 25 | Jan 25 | Oct 24 | Jul 24 | May 24 | Jan 24 | Oct 23 | Jul 23 | May 23 | Jan 23 | Oct 22 | Aug 22 | May 22 | Feb 22 | Nov 21 | Aug 21 | May 21 | Feb 21 | Nov 20 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 5 | 6 | 12 | 11 | 10 | 10 | 9 | 8 | 7 | 6 | 5 | 5 | 13 | 13 | 6 | 6 | 6 | 13 | 6 | 12 | 11 | 10 | 5 | 5 | 5 | 6 | 6 | 6 | 6 | 4 |
| EPS | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | $-0.02 | $-0.22 | - | - | $0.04 | $-0.04 | $0.05 | - | $-0.16 | $-0.30 | - | $-0.28 |
| Avg Forecast | $0.85 | $0.85 | $0.66 | $0.47 | $0.59 | $0.55 | $0.53 | $0.41 | $0.58 | $0.50 | $0.44 | $0.31 | $0.45 | $0.41 | $0.37 | $0.21 | $0.44 | $0.40 | $0.28 | $0.04 | $0.39 | $0.25 | $0.22 | $0.04 | $0.26 | $0.12 | $0.05 | $-0.06 | $0.09 | $-0.00 |
| High Forecast | $0.87 | $0.87 | $0.68 | $0.48 | $0.60 | $0.56 | $0.54 | $0.42 | $0.60 | $0.51 | $0.45 | $0.32 | $0.54 | $0.45 | $0.38 | $0.22 | $0.45 | $0.44 | $0.28 | $0.04 | $0.40 | $0.26 | $0.22 | $0.04 | $0.26 | $0.12 | $0.05 | $-0.06 | $0.09 | $-0.00 |
| Low Forecast | $0.83 | $0.83 | $0.64 | $0.46 | $0.57 | $0.53 | $0.52 | $0.39 | $0.57 | $0.49 | $0.43 | $0.30 | $0.41 | $0.37 | $0.36 | $0.21 | $0.43 | $0.35 | $0.27 | $0.04 | $0.38 | $0.25 | $0.22 | $0.04 | $0.26 | $0.12 | $0.05 | $-0.06 | $0.09 | $-0.00 |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -0.08% | -5.91% | - | - | 0.18% | -0.91% | 0.20% | - | -3.02% | 5.12% | - | 128.79% |
According to 10 Wall Street analysts, Pure Storage's projected average Quarter EPS for Oct 22 is $0.25, with a low estimate of $0.25 and a high estimate of $0.26. This represents a 536.92% increase compared to PSTG previous annual EPS of $0.04 (Aug 22).
Pure Storage Peer Comparison by Price Target
| Ticker | Company | Last Closing Price | Avg Price Target | Upside/Downside | Avg Rating |
|---|---|---|---|---|---|
| MKFG | Markforged | $0.20 | $1.30 | 550.00% | Buy |
| DDD | 3D Systems | $2.40 | $7.25 | 202.08% | Buy |
| SSYS | Stratasys | $7.42 | $12.25 | 65.09% | Buy |
| SMCI | Super Micro Computer | $449.10 | $718.80 | 60.05% | Buy |
| IONQ | IonQ | $7.82 | $12.00 | 53.45% | Buy |
| WDC | Western Digital | $64.09 | $78.17 | 21.97% | Buy |
| PSTG | Pure Storage | $49.58 | $60.06 | 21.14% | Buy |
| DM | Desktop Metal | $4.65 | $5.25 | 12.90% | Hold |
| STX | Seagate Technology | $101.44 | $108.94 | 7.39% | Buy |
| DELL | Dell | $115.40 | $114.09 | -1.14% | Buy |
| HPQ | HP | $33.76 | $32.60 | -3.44% | Hold |
| NTAP | NetApp | $117.86 | $110.56 | -6.19% | Buy |
| ANET | Arista Networks | $359.16 | $232.13 | -35.37% | Buy |
PSTG Forecast FAQ
Is Pure Storage a good buy?
Yes, according to 18 Wall Street analysts, Pure Storage (PSTG) is considered a 'Buy'. The rating consensus is based on 1 'Strong Buy' and 11 'Buy' recommendations, accounting for 66.67% of PSTG's total ratings.
What is PSTG's price target?
Pure Storage (PSTG) average price target is $60.06 with a range of $34 to $80, implying a 21.14% from its last price of $49.58. The data is based on 18 Wall Street analysts who provided a twelve-month price target estimate in the last three months.
Will Pure Storage stock go up soon?
According to Wall Street analysts' prediction for PSTG stock, the company can go up by 21.14% (from the last price of $49.58 to the average price target of $60.06), up by 61.36% based on the highest stock price target, and down by -31.42% based on the lowest stock price target.
Can Pure Storage stock reach $70?
PSTG's highest twelve months analyst stock price target of $80 supports the claim that Pure Storage can reach $70 in the near future.
What is Pure Storage's current price target trend?
4 Wall Street analysts forecast a $63.25 price target for Pure Storage (PSTG) this month, up 27.57% from its last price of $49.58. Compared to the last 3 and 12 months, the average price target increased by 32.31% and increased by 32.98%, respectively.
Did the PSTG's actual financial results beat the analysts' financial forecasts?
Based on Pure Storage's last annual report (Feb 2022), the company's revenue was $2.18B, beating the average analysts forecast of $2.04B by 6.96%. Apple's EBITDA was $-15.247M, beating the average prediction of $-13.588M by 12.21%. The company's net income was $-143M, missing the average estimation of $109.95M by -230.30%. Apple's SG&A was $988.98M, beating the average forecast of $923.03M by 7.15%. Lastly, the company's EPS was $-0.5, missing the average prediction of $0.381 by -231.11%. In terms of the last quarterly report (Jul 2023), Pure Storage's revenue was $688.67M, beating the average analysts' forecast of $681.95M by 0.99%. The company's EBITDA was $57.53M, missing the average prediction of $-523K by -11097.45%. Pure Storage's net income was $-7.115M, missing the average estimation of $94.71M by -107.51%. The company's SG&A was $293.56M, missing the average forecast of $321.82M by -8.78%. Lastly, the company's EPS was $-0.023, missing the average prediction of $0.276 by -108.34%