Pure Storage Reports Strong Q1 2026 Revenue Growth

Pure Storage ( (PSTG) ) has issued an update.

On May 28, 2025, Pure Storage announced its financial results for the first quarter of fiscal year 2026, reporting a 12% year-over-year revenue growth to $778.5 million. The company highlighted significant growth in its subscription services, with a 17% increase in revenue and an 18% rise in annual recurring revenue. Pure Storage also introduced new products and strengthened industry collaborations, positioning itself as a leader in enterprise data storage. Additionally, the company announced the departure of CFO Kevan Krysler, who will remain until a successor is named, and emphasized that his departure is unrelated to any financial integrity issues.

The most recent analyst rating on (PSTG) stock is a Buy with a $75.00 price target. To see the full list of analyst forecasts on Pure Storage stock, see the PSTG Stock Forecast page.

Spark’s Take on PSTG Stock

According to Spark, TipRanks’ AI Analyst, PSTG is a Outperform.

Pure Storage’s strong financial performance and positive earnings call sentiment are significant strengths, driving a solid stock score. However, high valuation metrics, technical indicators suggesting overbought conditions, and external risks like geopolitical factors temper the overall score.

To see Spark’s full report on PSTG stock, click here.

More about Pure Storage

Pure Storage (NYSE: PSTG) is a leading provider of advanced data storage technologies and services, offering a unified Storage as-a-Service platform across on-premises, cloud, and hosted environments. The company’s solutions are built on its Evergreen architecture, which ensures continuous improvement without downtime, and are designed to enhance simplicity, flexibility, and energy efficiency for organizations managing data at any scale.

Average Trading Volume: 2,955,273

Technical Sentiment Signal: Strong Buy

Current Market Cap: $18.19B

For detailed information about PSTG stock, go to TipRanks’ Stock Analysis page.