Pure Storage (PSTG) stock jumped over 30% after the company delivered a strong second-quarter report and raised its full-year revenue outlook. The upbeat results were supported by its flash-storage partnership with Meta Platforms (META). This led more than 10 Top analysts to raise their price targets, reflecting confidence in the data storage company’s long-term growth.
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PSTG reported adjusted earnings of $0.43 per share, beating Wall Street’s estimate of $0.39. Revenue came in at $861 million, ahead of the $846 million consensus and up from $763.8 million a year ago.
The company also raised its full-year revenue guidance to a range of $3.6 billion to $3.63 billion, citing strong demand for its product portfolio and subscription services.
Here’s Why Analysts Raised PT on PSTG Stock
Needham analyst Mike Cikos highlighted that growth in Evergreen//One, Cloud Block Store, and Portworx reflects broad customer adoption, especially in virtualization upgrades. He raised his price target to $85 from $75, citing confidence in Pure’s FY26 growth trajectory and the Meta deployment plans that remain on track.
Similarly, TD Cowen’s Krish Sankar maintained a Buy rating and raised his price target to $85 from $80, estimating a $100 million revenue opportunity from the Meta deal. The five-star analyst also pointed out that Meta’s CapEx forecast for CY26 has jumped from $60 billion to $90 billion, potentially expanding Pure’s upside if the partnership scales.
At the same time, Raymond James analyst Simon Leopold echoed the sentiment, raising his target to $88 from $76. The Top analyst noted that while the Meta impact is still hard to model, it could boost future growth. Also, he believes that sales growth in the low teens looks sustainable, and there’s room for upward revisions.
Overall, analysts are positive about Pure’s steady growth and ability to win big business deals. The early-stage Meta partnership also adds long-term value and shows the company is heading in the right direction.
Is PSTG a Good Stock to Buy Now?
Turning to Wall Street, PSTG stock has a Strong Buy consensus rating based on 13 Buys and four Holds assigned in the last three months. At $77.06, the average Pure Storage stock price target implies a 2.56% downside risk.
