William Blair analyst Jason Ader has maintained their bullish stance on PSTG stock, giving a Buy rating today.
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Jason Ader has given his Buy rating due to a combination of factors that highlight Pure Storage’s strong performance and future potential. The company reported impressive third-quarter results, surpassing key metrics and raising its fourth-quarter revenue guidance beyond expectations. Despite a temporary dip in stock price, driven by high investor expectations and plans for increased spending in fiscal 2027, Ader remains optimistic about Pure Storage’s ability to maintain enterprise market share and leverage hyperscaler and AI opportunities.
Pure Storage demonstrated broad-based strength across its portfolio, with notable performance in Enterprise Data Cloud, Evergreen//One, and Portworx. The company’s revenue growth of 16% exceeded consensus estimates, driven by higher-than-anticipated hyperscaler shipments and robust enterprise momentum. Additionally, the company’s strategic investments in R&D and sales and marketing are expected to support continued growth in hyperscaler, AI, and EDC opportunities, setting a positive stage for fiscal 2027.
In another report released today, Needham also maintained a Buy rating on the stock with a $100.00 price target.
Based on the recent corporate insider activity of 68 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PSTG in relation to earlier this year.