Pure Storage (PSTG)

• Market cap: $13.1B
• 1 day: -3.69%
• 5 days: -7.18%
• 1 month: -21.39%
• 3 months: -42.62%
• 6 months: -30.14%
• Year to date: -35.65%
• 1 year: -20.39%
• 5 years: 225.59%
• 10 years: 151.16%
• Sector: Technology
• Industry: Computer Hardware

About: Pure Storage Inc is a U.S.-based company that provides an enterprise data storage platform that transforms business through a dramatic increase in performance and reduction in complexity and costs. It generates revenue from two sources: product revenue, which includes the sale of integrated storage hardware and embedded operating system software; and subscription services revenue, which includes Evergreen Storage subscriptions, a unified subscription that includes Pure as-a-Service, Cloud Block Store, and Portworx. Subscription services revenue also includes professional services offerings such as installation and implementation consulting services.

Employees: 6,000

Fund manager confidence

Based on 2024 Q4 regulatory disclosures by fund managers ($100M+ AUM)

90% more first-time investments, than exits

New positions opened: 129 | Existing positions closed: 68

26% more capital invested

Capital invested by funds: $13.4B [Q3] → $16.8B (+$3.45B) [Q4]

17% more repeat investments, than reductions

Existing positions increased: 238 | Existing positions reduced: 204

14% more funds holding in top 10

Funds holding in top 10: 7 [Q3] → 8 (+1) [Q4]

7% more funds holding

Funds holding: 606 [Q3] → 650 (+44) [Q4]

2.76% more ownership

Funds ownership: 81.0% [Q3] → 83.75% (+2.76%) [Q4]

8% more call options, than puts

Call options by funds: $250M | Put options by funds: $232M

Research analyst outlook

5 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $50 24% upside
• Avg. target: $61 52% upside
• High target: $75 87% upside

5 analyst ratings

• positive: 3 60%
• neutral: 1 20%
• negative: 1 20%

Citigroup Asiya Merchant 8% 1-year accuracy 3 / 39 met price target	37% upside $55	Buy Maintained	14 Apr 2025
Piper Sandler James Fish 34% 1-year accuracy 10 / 29 met price target	32% upside $53	Overweight Maintained	8 Apr 2025
UBS David Vogt 31% 1-year accuracy 4 / 13 met price target	24% upside $50	Sell Maintained	27 Feb 2025
B of A Securities Wamsi Mohan 51% 1-year accuracy 43 / 84 met price target	82% upside $73	Neutral Maintained	27 Feb 2025
Needham Mike Cikos 22% 1-year accuracy 23 / 103 met price target	87% upside $75	Buy Reiterated	27 Feb 2025