Wamsi Mohan, an analyst from Bank of America Securities, reiterated the Hold rating on Pure Storage. The associated price target remains the same with $90.00.
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Wamsi Mohan has given his Hold rating due to a combination of factors, balancing solid operational execution with emerging risks. He notes that Everpure (formerly Pure Storage) delivered revenue modestly above expectations, saw robust enterprise demand and strong growth in large deals, and guided fiscal 2027 revenue and EBIT ahead of the Street, all of which underscore healthy business momentum.
At the same time, he highlights headwinds from volatile component costs, elongated lead times, and potential shipment delays across the storage industry. Recent price increases could also dampen demand, while the 1touch acquisition is initially dilutive to operating profit, leading him to maintain a Neutral stance and keep the price objective at $90 despite the company’s improving fundamentals.
In another report released today, Barclays also maintained a Hold rating on the stock with a $81.00 price target.
PSTG’s price has also changed moderately for the past six months – from $59.050 to $73.560, which is a 24.57% increase.