Pure Storage (PSTG) stock sank on Wednesday after analysts updated their coverage of the data storage company following its latest earnings report.
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Let’s dig into all of the latest updates for Pure Storage stock, including new coverage, upgrades or downgrades, as well as price target changes.
- Barclays analyst Tim Long reiterated a Hold rating and increased his price target to $77 from $70.
- J.P. Morgan analyst Samik Chatterjee assigned the stock a Buy rating with a price target of $105.
- Guggenheim analyst Howard Ma maintained a Buy rating and $105 price target.
- Wells Fargo analyst Aaron Rakers kept a Buy rating and $100 price target.
- Citi analyst Asiya Merchant assigned a Buy rating with a $105 price target.
- TD Cowen analyst Krish Sankar reiterated a Buy rating and increased his price target to $100 from $85.
- Evercore ISI analyst Amit Daryanani kept a Buy rating and $105 price target.
- Susquehanna analyst Mehdi Hosseini downgraded PSTG to a Hold rating and maintained a $100 price target.
- Needham analyst Mike Cikos stuck with a Buy rating and $100 price target.
- Morgan Stanley analyst Erik Woodring reiterated a Hold rating and lowered his price target to $83 from $90.
- Piper Sandler analyst James Fish maintained a Buy rating and $92 price target.
- UBS analyst David Vogt kept a Sell rating and increased his price target to $60 from $55.
- William Blair analyst Jason Ader stuck with a Buy rating and no price target.
- Oppenheimer analyst Param Singh reiterated a Buy rating and a Street-high price target of $120.
Pure Storage Stock Movement Today
Pure Storage stock was down 16.23% in pre-market trading on Wednesday, following a 6.97% rally yesterday. The shares have increased 54.19% year-to-date and 44.94% over the past 12 months.
Is Pure Storage Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for Pure Storage is Moderate Buy, based on 13 Buy, three Hold, and a single Sell rating over the past three months. With that comes an average PSTG stock price target of $99.25, representing a potential 4.78% upside for the shares.
