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These Analysts Revise Their Forecasts On Pure Storage After Q3 Results

Benzinga·12/03/2025 17:11:51
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Pure Storage Inc. (NYSE:PSTG) posted in-line earnings for the third quarter on Tuesday.

Pure Storage reported quarterly earnings of 58 cents per share, which met the consensus estimate, according to Benzinga Pro data. Quarterly revenue came in at $964.45 million, which beat the analyst estimate of $956.14 million.

"Pure Storage delivered another strong quarter as global customers increasingly choose Pure to solve their toughest data management challenges," said Charles Giancarlo, Pure Storage CEO. "Competitive advantage in the AI era demands data accessibility. Pure's Enterprise Data Cloud breaks data free from application silos, allowing enterprises to harness the power of AI, automation and analytics," Giancarlo added.

Pure Storage raised its fiscal 2026 revenue guidance to between $3.63 billion and $3.64 billion, versus the $3.62 billion estimate.

Pure Storage shares fell 26.3% to trade at $69.76 on Wednesday.

These analysts made changes to their price targets on Pure Storage following earnings announcement.

  • UBS analyst David Vogt maintained Pure Storage with a Sell and raised the price target from $55 to $60.
  • JP Morgan analyst Samik Chatterjee maintained the stock with an Overweight rating and lowered the price target from $110 to $105.
  • Wedbush analyst Matt Bryson maintained Pure Storage with an Outperform rating and raised the price target from $90 to $100.

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