Aaron Rakers, an analyst from Wells Fargo, maintained the Buy rating on Pure Storage (PSTG – Research Report). The associated price target remains the same with $80.00.
Aaron Rakers has given his Buy rating due to a combination of factors surrounding Pure Storage’s strategic advancements and potential growth in the AI storage sector. The introduction of FlashBlade//EXA, a system tailored for AI environments, marks a significant expansion in Pure’s product lineup. This move is seen as timely, aligning with upcoming industry events and positioning Pure Storage to compete effectively against other major players in large-scale AI storage solutions.
Rakers highlights Pure Storage’s ability to leverage its disaggregated architecture and the Purity Operating System, which enhances its capability to support AI-centric workloads. The FlashBlade//EXA’s design, aimed at AI Factories, promises high performance and scalability, supporting extensive GPU deployments. Additionally, the anticipated availability of FlashBlade//EXA in the summer of 2025, with its integration with NVIDIA’s technology, further underscores Pure Storage’s potential as a growth driver in the AI storage market.
In another report released on February 28, Susquehanna also maintained a Buy rating on the stock with a $75.00 price target.
PSTG’s price has also changed slightly for the past six months – from $47.710 to $48.630, which is a 1.93% increase.