Pure Storage Inc. rises despite market weakness
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 12 Jan 26
Pure Storage Inc. saw a price increase of 5.40% as it crossed above its 5-day SMA, indicating strong buying interest.
The stock's rise comes amid sector rotation, as investors are shifting focus towards technology stocks despite the overall decline in the Nasdaq-100 and S&P 500 indices. This shift suggests that Pure Storage is gaining traction among investors looking for growth opportunities in the tech sector.
This movement could signal a positive outlook for Pure Storage, as it may attract more attention from investors seeking to capitalize on the company's potential in the data storage market.
Analyst Views on PSTG
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
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
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.
