Analyst Aaron Rakers from Wells Fargo reiterated a Buy rating on Pure Storage (PSTG – Research Report) and keeping the price target at $80.00.
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Aaron Rakers has given his Buy rating due to a combination of factors that highlight Pure Storage’s strong market position and growth potential. One of the key reasons is the company’s architectural differentiation, which is expected to drive further engagement with hyperscale opportunities. Although there were no new significant updates regarding Pure Storage’s collaboration with Meta or other hyperscalers, the ongoing progress and potential for additional details in the second half of the calendar year 2026 remain promising.
Another factor contributing to the Buy rating is the launch of Pure Storage’s //EXA platform, which positions the company well to compete in the large-scale AI storage market. This platform is anticipated to provide a margin-boosting opportunity through its software and licensing model. Additionally, the company’s product gross margin has shown improvement, and the subscription revenue continues to grow, indicating a robust financial performance. These elements combined suggest a positive outlook for Pure Storage, justifying the Buy recommendation.
In another report released yesterday, Wedbush also maintained a Buy rating on the stock with a $70.00 price target.