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Pure Storage (PSTG) Stock Forecast, Price Target & Predictions

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PSTG Stock Forecast

Pure Storage stock forecast is as follows: an average price target of $61.89 (represents a 24.03% upside from PSTG’s last price of $49.90) and a rating consensus of 'Buy', based on 19 wall street analysts offering a 1-year stock forecast.

PSTG Price Target

The average price target for Pure Storage (PSTG) is $61.89 based on 1-year price targets from 19 Wall Street analysts in the past 3 months, with a price target range of $93.00 to $34.00. This represents a potential 24.03% upside from PSTG's last price of $49.90.

PSTG Analyst Ratings

Buy

According to 19 Wall Street analysts, Pure Storage's rating consensus is 'Buy'. The analyst rating breakdown for PSTG stock is 1 'Strong Buy' (5.26%), 13 'Buy' (68.42%), 4 'Hold' (21.05%), 1 'Sell' (5.26%), and 0 'Strong Sell' (0.00%).

Pure Storage Price Target by Analyst

DateAnalystCompanyPrice TargetPrice when PublishedPrice Target/Price when PublishedPrice Target/Last Closing Price
Oct 17, 2024Howard MaGuggenheim$93.00$53.4274.09%86.37%
Aug 29, 2024Simon LeopoldRaymond James$70.00$59.7617.14%40.28%
Aug 29, 2024James FishPiper Sandler$56.00$59.76-6.29%12.22%
Aug 29, 2024Asiya MerchantCitigroup$67.00$59.7612.12%34.27%
Aug 19, 2024James FishPiper Sandler$60.00$62.42-3.88%20.24%
Jun 21, 2024Aaron RakersWells Fargo$75.00$64.0817.04%50.30%
Jun 12, 2024Meta MarshallMorgan Stanley$60.00$66.56-9.86%20.24%
May 30, 2024Eric MartinuzziLoop Capital Markets$70.00$62.9811.15%40.28%
May 30, 2024Mike CikosNeedham$80.00$62.9627.06%60.32%
May 30, 2024Matthew SheerinStifel Nicolaus$65.00$62.903.34%30.26%
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The latest Pure Storage stock forecast, released on Oct 17, 2024 by Howard Ma from Guggenheim, set a price target of $93.00, which represents a 74.09% increase from the stock price at the time of the forecast ($53.42), and a 86.37% increase from PSTG last price ($49.90).

Pure Storage Price Target by Period

1M3M12M
# Anlaysts-416
Avg Price Target-$71.50$67.63
Last Closing Price$49.90$49.90$49.90
Upside/Downside-100.00%43.29%35.53%

In the current month, the average price target of Pure Storage stock is -, according to 0 Wall Street analyst offering twelve months forecast. The average price target represents a -100.00% decrease as opposed to Pure Storage's last price of $49.90. This month's average price target is down -100.00% compared to last quarter, and down -100.00% compared to last year.

Analyst Ratings Upgrades/Downgrades

DateCompanyPrevious RatingNew RatingRating Change
Oct 17, 2024WedbushBuyBuyHold
Oct 17, 2024UBSUnderperformUnderperformHold
Oct 17, 2024GuggenheimBuyBuyHold
Aug 29, 2024Raymond JamesOutperformOutperformHold
Aug 29, 2024Piper SandlerNeutralNeutralHold
Aug 29, 2024CitigroupBuyBuyHold
Aug 19, 2024Wells FargoBuyBuyHold
Aug 19, 2024Piper Sandler-NeutralInitialise
Jul 02, 2024UBSBuySellDowngrade
Jun 21, 2024CitigroupBuyBuyHold
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Pure Storage's last stock rating was published by Wedbush on Oct 17, 2024. The company gave PSTG a "Buy" rating, the same as its previous rate.

Pure Storage Financial Forecast

Pure Storage Revenue Forecast

Feb 28Nov 27Aug 27May 27Feb 27Nov 26Aug 26May 26Feb 26Nov 25Aug 25May 25Feb 25Nov 24Aug 24May 24Feb 24Nov 23Aug 23May 23Feb 23Nov 22Aug 22May 22Feb 22Nov 21Aug 21May 21Feb 21Nov 20
Revenue------------------$688.67M$589.31M$810.21M$676.05M$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$972.47M$908.19M$851.42M$769.84M$856.95M$814.98M$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$1.32B$1.17B$1.14B$1.06B$1.08B$1.04B$979.30M$883.83M$1.01B$941.43M$882.58M$798.02M$887.12M$817.91M$756.04M$681.03M$784.31M$769.59M$706.90M$580.28M$841.27M$690.40M$653.33M$535.90M$648.08M$545.04M$484.42M$416.91M$493.31M$417.69M
Low Forecast$1.23B$1.09B$1.06B$990.19M$1.01B$965.55M$912.64M$823.67M$939.44M$877.35M$822.51M$743.70M$828.77M$810.61M$756.02M$681.03M$784.30M$760.03M$658.79M$540.79M$784.02M$656.29M$621.05M$509.43M$616.07M$518.11M$460.48M$396.31M$468.93M$397.05M
# Analysts12137799711761261414910913876555566664
Surprise %------------------1.01%1.05%1.00%1.01%1.02%1.19%1.12%-1.05%1.02%-1.01%

Pure Storage's average Quarter revenue forecast for Nov 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 (Aug 23).

Pure Storage EBITDA Forecast

Feb 28Nov 27Aug 27May 27Feb 27Nov 26Aug 26May 26Feb 26Nov 25Aug 25May 25Feb 25Nov 24Aug 24May 24Feb 24Nov 23Aug 23May 23Feb 23Nov 22Aug 22May 22Feb 22Nov 21Aug 21May 21Feb 21Nov 20
# Analysts12137799711761261414910913876555566664
EBITDA------------------$57.53M$-71.81M$92.75M$34.85M$38.25M$18.10M$53.22M-$-13.06M$-53.40M-$-43.90M
Avg Forecast$-2.42M$-2.15M$-2.08M$-1.94M$-1.97M$-1.90M$-1.79M$-1.62M$-1.85M$-1.72M$-1.62M$-1.46M$-1.63M$-1.55M$-1.43M$39.62M$-1.49M$-1.44M$-1.29M$36.02M$3.95M$-515.56K$-487.88K$32.75M$-483.96K$-407.01K$-361.74K$-12.34M$-368.38K$-311.91K
High Forecast$-2.34M$-2.07M$-2.01M$-1.88M$-1.91M$-1.83M$-1.73M$-1.56M$-1.78M$-1.66M$-1.56M$-1.41M$-1.57M$-1.54M$-1.43M$47.55M$-1.49M$-1.44M$-1.25M$43.23M$4.74M$-503.41K$-476.38K$39.30M$-472.56K$-397.42K$-353.22K$-9.87M$-359.70K$-304.56K
Low Forecast$-2.51M$-2.23M$-2.16M$-2.02M$-2.05M$-1.97M$-1.86M$-1.68M$-1.91M$-1.79M$-1.67M$-1.51M$-1.68M$-1.55M$-1.43M$31.70M$-1.49M$-1.46M$-1.34M$28.82M$3.16M$-529.58K$-501.14K$26.20M$-497.12K$-418.08K$-371.57K$-14.80M$-378.39K$-320.39K
Surprise %-------------------44.46%-1.99%23.49%-67.60%-78.40%0.55%-109.96%-36.11%4.33%-140.74%

13 analysts predict PSTG's average Quarter EBITDA for Nov 23 to be $-1.44M, with a high of $-1.44M and a low of $-1.46M. This is -102.51% lower than Pure Storage's previous annual EBITDA (Aug 23) of $57.53M.

Pure Storage Net Income Forecast

Feb 28Nov 27Aug 27May 27Feb 27Nov 26Aug 26May 26Feb 26Nov 25Aug 25May 25Feb 25Nov 24Aug 24May 24Feb 24Nov 23Aug 23May 23Feb 23Nov 22Aug 22May 22Feb 22Nov 21Aug 21May 21Feb 21Nov 20
# Analysts12137799711761261414910913876555566664
Net Income------------------$-7.12M$-67.40M$74.47M$-787.00K$10.92M$-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$200.00M$170.87M$151.13M$107.01M$156.38M$142.37M$126.63M$11.13M$149.79M$136.92M$94.71M$10.12M$-24.78M$87.50M$75.09M$9.20M$90.31M$42.56M$18.21M$-31.96M$31.49M$-746.64K
High Forecast$305.82M$305.82M$237.46M$169.10M$210.92M$197.39M$190.63M$145.74M$209.52M$179.00M$158.32M$112.10M$186.33M$155.61M$126.75M$13.35M$149.81M$150.27M$99.22M$12.14M$-19.83M$90.59M$77.75M$11.03M$93.50M$44.07M$18.85M$-25.57M$32.61M$-723.78K
Low Forecast$279.04M$279.04M$216.67M$154.29M$192.45M$180.11M$173.94M$132.98M$191.17M$163.33M$144.46M$102.29M$143.07M$129.12M$126.51M$8.90M$149.77M$120.22M$90.54M$8.09M$-29.74M$84.82M$72.79M$7.36M$87.54M$41.26M$17.65M$-38.35M$30.53M$-773.04K
Surprise %-------------------0.08%-6.66%-3.00%-0.01%0.15%-1.25%0.17%--2.49%2.63%-99.41%

Pure Storage's average Quarter net income forecast for May 23 is $10.12M, with a range of $8.09M to $12.14M. PSTG's average Quarter net income forecast represents a -86.42% decrease compared to the company's last Quarter net income of $74.47M (Feb 23).

Pure Storage SG&A Forecast

Feb 28Nov 27Aug 27May 27Feb 27Nov 26Aug 26May 26Feb 26Nov 25Aug 25May 25Feb 25Nov 24Aug 24May 24Feb 24Nov 23Aug 23May 23Feb 23Nov 22Aug 22May 22Feb 22Nov 21Aug 21May 21Feb 21Nov 20
# Analysts12137799711761261414910913876555566664
SG&A------------------$293.56M$299.83M$311.18M$277.19M$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$458.92M$428.59M$401.79M$363.30M$404.40M$384.60M$356.78M$211.04M$370.12M$359.35M$321.82M$191.86M$211.39M$317.18M$300.15M$174.42M$297.74M$250.40M$222.55M$152.34M$226.63M$191.89M
High Forecast$624.88M$553.65M$537.36M$501.41M$509.10M$488.93M$462.14M$417.09M$475.71M$444.27M$416.50M$376.59M$418.64M$385.98M$356.79M$253.25M$370.13M$363.18M$333.60M$230.23M$253.67M$325.81M$308.31M$209.30M$305.84M$257.21M$228.60M$182.80M$232.80M$197.11M
Low Forecast$582.35M$515.97M$500.79M$467.28M$474.45M$455.65M$430.69M$388.70M$443.33M$414.03M$388.15M$350.96M$391.11M$382.54M$356.78M$168.84M$370.12M$358.66M$310.89M$153.49M$169.11M$309.71M$293.08M$139.53M$290.73M$244.50M$217.31M$121.87M$221.29M$187.37M
Surprise %------------------0.91%1.56%1.47%0.87%0.88%1.55%0.95%-1.05%1.49%-1.14%

Pure Storage's average Quarter SG&A projection for Nov 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 (Aug 23).

Pure Storage EPS Forecast

Feb 28Nov 27Aug 27May 27Feb 27Nov 26Aug 26May 26Feb 26Nov 25Aug 25May 25Feb 25Nov 24Aug 24May 24Feb 24Nov 23Aug 23May 23Feb 23Nov 22Aug 22May 22Feb 22Nov 21Aug 21May 21Feb 21Nov 20
# Analysts12137799711761261414910913876555566664
EPS------------------$-0.02$-0.22$0.25$-0.00$0.04$-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$0.46$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$0.89$0.89$0.69$0.49$0.61$0.57$0.56$0.42$0.61$0.52$0.46$0.33$0.54$0.45$0.37$0.21$0.44$0.44$0.29$0.04$0.40$0.26$0.23$0.04$0.27$0.13$0.05$-0.06$0.09$-0.00
Low Forecast$0.81$0.81$0.63$0.45$0.56$0.52$0.51$0.39$0.56$0.48$0.42$0.30$0.42$0.38$0.37$0.21$0.44$0.35$0.26$0.04$0.37$0.25$0.21$0.04$0.25$0.12$0.05$-0.06$0.09$-0.00
Surprise %-------------------0.08%-5.91%0.65%-0.01%0.18%-0.91%0.20%--3.02%5.12%-128.79%

According to 7 Wall Street analysts, Pure Storage's projected average Quarter EPS for May 23 is $0.04, with a low estimate of $0.04 and a high estimate of $0.04. This represents a -85.11% decrease compared to PSTG previous annual EPS of $0.25 (Feb 23).

Pure Storage Peer Comparison by Price Target

TickerCompanyLast Closing PriceAvg Price TargetUpside/DownsideAvg Rating
SMCISuper Micro Computer$28.27$529.361772.52%Buy
DDD3D Systems$3.01$7.25140.86%Buy
SSYSStratasys$9.19$12.2533.30%Buy
DMDesktop Metal$4.13$5.2527.12%Hold
PSTGPure Storage$49.90$61.8924.03%Buy
WDCWestern Digital$65.29$78.1719.73%Buy
STXSeagate Technology$97.80$113.8416.40%Buy
MKFGMarkforged$4.23$4.00-5.44%Hold
HPQHP$36.87$33.55-9.00%Hold
NTAPNetApp$122.20$110.56-9.53%Buy
DELLDell$135.90$115.26-15.19%Buy
ANETArista Networks$377.70$235.35-37.69%Buy
IONQIonQ$27.89$16.00-42.63%Buy

PSTG Forecast FAQ

Is Pure Storage a good buy?

Yes, according to 19 Wall Street analysts, Pure Storage (PSTG) is considered a 'Buy'. The rating consensus is based on 1 'Strong Buy' and 13 'Buy' recommendations, accounting for 73.68% of PSTG's total ratings.

What is PSTG's price target?

Pure Storage (PSTG) average price target is $61.89 with a range of $34 to $93, implying a 24.03% from its last price of $49.9. The data is based on 19 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 24.03% (from the last price of $49.9 to the average price target of $61.89), up by 86.37% based on the highest stock price target, and down by -31.86% based on the lowest stock price target.

Can Pure Storage stock reach $70?

PSTG's highest twelve months analyst stock price target of $93 supports the claim that Pure Storage can reach $70 in the near future.

What are Pure Storage's analysts' financial forecasts?

Pure Storage's analysts financial forecasts for the fiscal year (Feb 2027) are as follows: average revenue is $3.84B (high $3.98B, low $3.71B), average EBITDA is $-7.282M (high $-7.035M, low $-7.548M), average net income is $710.85M (high $744.67M, low $679.47M), average SG&A $1.81B (high $1.88B, low $1.75B), and average EPS is $2.07 (high $2.17, low $1.98). PSTG's analysts financial forecasts for the fiscal year (Feb 2028) are as follows: average revenue is $4.53B (high $4.7B, low $4.38B), average EBITDA is $-8.601M (high $-8.309M, low $-8.916M), average net income is $971.94M (high $1.02B, low $929.04M), average SG&A $2.14B (high $2.22B, low $2.07B), and average EPS is $2.83 (high $2.96, low $2.71).

Did the PSTG's actual financial results beat the analysts' financial forecasts?

Based on Pure Storage's last annual report (Feb 2023), the company's revenue was $2.75B, beating the average analysts forecast of $2.64B by 4.24%. Apple's EBITDA was $183.94M, beating the average prediction of $35.69M by 415.35%. The company's net income was $73.07M, missing the average estimation of $147.01M by -50.29%. Apple's SG&A was $1.12B, beating the average forecast of $1B by 11.81%. Lastly, the company's EPS was $0.24, missing the average prediction of $0.903 by -73.42%. In terms of the last quarterly report (Aug 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 $-1.294M by -4545.60%. 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%