Fintel reports that on December 4, 2024, Piper Sandler upgraded their outlook for Pure Storage (NYSE:PSTG) from Neutral to Overweight.
Analyst Price Forecast Suggests 24.32% Upside
As of December 2, 2024, the average one-year price target for Pure Storage is $66.56/share. The forecasts range from a low of $45.45 to a high of $97.65. The average price target represents an increase of 24.32% from its latest reported closing price of $53.54 / share.
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The projected annual revenue for Pure Storage is 3,706MM, an increase of 20.40%. The projected annual non-GAAP EPS is 1.60.
What is the Fund Sentiment?
There are 1,228 funds or institutions reporting positions in Pure Storage. This is an increase of 7 owner(s) or 0.57% in the last quarter. Average portfolio weight of all funds dedicated to PSTG is 0.27%, an increase of 20.21%. Total shares owned by institutions increased in the last three months by 3.52% to 312,667K shares. 
The put/call ratio of PSTG is 0.72, indicating a bullish outlook.
What are Other Shareholders Doing?
FDGRX - Fidelity Growth Company Fund holds 15,565K shares representing 4.75% ownership of the company. In its prior filing, the firm reported owning 14,866K shares , representing an increase of 4.49%. The firm decreased its portfolio allocation in PSTG by 14.81% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 9,786K shares representing 2.99% ownership of the company. In its prior filing, the firm reported owning 9,770K shares , representing an increase of 0.17%. The firm decreased its portfolio allocation in PSTG by 26.38% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 9,659K shares representing 2.95% ownership of the company. In its prior filing, the firm reported owning 9,505K shares , representing an increase of 1.59%. The firm decreased its portfolio allocation in PSTG by 27.39% over the last quarter.
NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 7,734K shares representing 2.36% ownership of the company. In its prior filing, the firm reported owning 7,769K shares , representing a decrease of 0.44%. The firm decreased its portfolio allocation in PSTG by 28.92% over the last quarter.
T. Rowe Price Investment Management holds 6,806K shares representing 2.08% ownership of the company. In its prior filing, the firm reported owning 5,054K shares , representing an increase of 25.74%. The firm increased its portfolio allocation in PSTG by 0.67% over the last quarter.
Pure Storage Background Information
(This description is provided by the company.)
Pure Storage gives technologists their time back. Pure delivers a modern data experience that empowers organizations to run their operations as a true, automated, storage as-a-service model seamlessly across multiple clouds. One of the fastest-growing enterprise IT companies in history, Pure helps customers put data to use while reducing the complexity and expense of managing the infrastructure behind it. And with a certified customer satisfaction score in the top one percent of B2B companies, Pure's ever-expanding list of customers are among the happiest in the world.
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