Pure Storage Inc. shares fell by 3.16% and hit a 20-day low amid broader market weakness, with the Nasdaq-100 down 1.32% and the S&P 500 down 0.72%.
The decline comes despite the company's announcement of a significant $400 million share repurchase program, which reflects its strong financial position and commitment to enhancing shareholder value. This marks the largest repurchase authorization in Pure Storage's history, indicating confidence in its long-term growth potential and strategic value in the data storage industry.
The share repurchase program is expected to boost market confidence and provide flexibility in capital allocation, allowing the company to execute buybacks opportunistically based on market conditions. This strategic move underscores Pure Storage's focus on maximizing investment returns while continuing to invest in technology innovation.
Wall Street analysts forecast PSTG stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for PSTG is 97.37 USD with a low forecast of 60.00 USD and a high forecast of 120.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
20 Analyst Rating
Wall Street analysts forecast PSTG stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for PSTG is 97.37 USD with a low forecast of 60.00 USD and a high forecast of 120.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
14 Buy
5 Hold
1 Sell
Moderate Buy
Current: 74.290
Low
60.00
Averages
97.37
High
120.00
Current: 74.290
Low
60.00
Averages
97.37
High
120.00
UBS
Sell
maintain
$55 -> $60
2025-12-03
Reason
UBS
Price Target
$55 -> $60
AI Analysis
2025-12-03
maintain
Sell
Reason
UBS raised the firm's price target on Pure Storage to $60 from $55 and keeps a Sell rating on the shares.
TD Cowen
Buy
maintain
$85 -> $100
2025-12-03
Reason
TD Cowen
Price Target
$85 -> $100
2025-12-03
maintain
Buy
Reason
TD Cowen raised the firm's price target on Pure Storage to $100 from $85 and keeps a Buy rating on the shares. The firm said the problem is not that Street numbers will come down, but the company is guiding for a significant increase in OpEx which puts the OM expansion thesis on the sidelines, for now. There may be more volatility ahead but the trajectory seems to be on the right path.
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Morgan Stanley
Erik Woodring
Equal Weight
downgrade
$90 -> $83
2025-12-03
Reason
Morgan Stanley
Erik Woodring
Price Target
$90 -> $83
2025-12-03
downgrade
Equal Weight
Reason
Morgan Stanley analyst Erik Woodring lowered the firm's price target on Pure Storage to $83 from $90 and keeps an Equal Weight rating on the shares. Results show clear outperformance compared to legacy storage peers and hyperscale shipment upside is a positive, but a possible mix shift to subscription and continued investment intensity limit earnings flow-through in FY27, the analyst tells investors in a post-earnings note.
Lake Street
Eric Martinuzzi
Buy
maintain
$80 -> $92
2025-12-03
Reason
Lake Street
Eric Martinuzzi
Price Target
$80 -> $92
2025-12-03
maintain
Buy
Reason
Lake Street analyst Eric Martinuzzi raised the firm's price target on Pure Storage to $92 from $80 and keeps a Buy rating on the shares following what the firm calls "another solid quarter." Shares are off in the after-hours, which the firm views as perhaps in reaction to the rising cost of goods sold commentary as Pure noted excess macro demand is driving increased commodity pricing, which is putting pressure on the company's supply chain. However, the firm believes the company will be able to "manage through the near-term turbulence," the analyst tells investors.
About PSTG
Pure Storage, Inc. is a data management and storage company. The Company is focused on delivering a disruptive data storage platform, which supports a range of structured and unstructured data at scale and across any data workloads in on premises, cloud and hosted environments and includes mission-critical production, test and development, analytics, disaster recovery, backup and restore, artificial intelligence (AI) and machine learning. Its integrated hardware systems include Evergreen Architecture, FlashArray, and FlashBlade. Its cloud-native storage includes Portworx by Pure Storage, Portworx Data Services, Cloud Block Store, Evergreen//One, and Evergreen//Flex. Its Pure Software includes Purity, Pure1, and Pure Fusion. Its Pure1 is a cloud-based data storage management plane, brings the convenience of cloud storage to on premises storage. The Company sells its products and subscription services using a direct sales force and its channel partners.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
