Wells Fargo lowered the firm’s price target on Pure Storage (PSTG) to $90 from $100 and keeps an Overweight rating on the shares. The firm says that above consensus FY27 revenue guide and strong deal momentum were overshadowed by component cost driven Product gross margin pressure.
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Read More on PSTG:
- Everpure: Solid Execution and Upbeat Outlook Offset by Industry Headwinds and Dilutive Acquisition, Justifying Hold Rating
- Everpure: Strong Q4 Execution, AI-Driven Demand, and Expanding Enterprise Cloud Adoption Support Buy Rating Through FY27
- Pure Storage sees FY27 revenue $4.3B-$4.4B, consensus $4.27B
- Pure Storage reports Q4 non-GAAP EPS 69c, consensus 64c
- Pure Storage sees Q1 revenue $990M-$1.01B, consensus $920.81M