J.P. Morgan analyst Pinjalim Bora has maintained their bullish stance on PSTG stock, giving a Buy rating today.
Pinjalim Bora has given his Buy rating due to a combination of factors that highlight Pure Storage’s strong performance and future potential. The company ended the year on a positive note, surpassing expectations with its revenue growth driven by product sales, particularly in its FlashBlade, FlashArray, and Portworx offerings. Despite a slight miss in subscription revenue, the rebound in Evergreen//one sales and the adoption of Pure Fusion v2 by numerous customers underscore the company’s innovative edge.
Looking ahead, Pure Storage’s guidance for FY26 aligns with market expectations, projecting steady revenue growth and maintaining a solid operating margin. The company’s focus on product innovation, such as expanding DFM module capacity and leveraging its competitive advantages like non-disruptive upgrades and superior data-reduction capabilities, positions it well against competitors. These factors, combined with strong customer satisfaction and a strategic focus on flash-based storage, contribute to Bora’s optimistic outlook for Pure Storage’s continued growth and profitability.
Bora covers the Technology sector, focusing on stocks such as Pure Storage, Monday.com, and Dynatrace. According to TipRanks, Bora has an average return of 14.4% and a 61.86% success rate on recommended stocks.