Barclays analyst Tim Long maintains $Pure Storage (PSTG.US)$ with a hold rating, and adjusts the target price from $56 to $61.
According to TipRanks data, the analyst has a success rate of 62.5% and a total average return of 14.2% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Pure Storage (PSTG.US)$'s main analysts recently are as follows:
The company exhibited a strong performance, exceeding expectations in their recent quarterly results. A significant aspect of their earnings announcement was the confirmation of a design win with one of the top four hyperscalers. This agreement entails the utilization of the company's technology across all online storage requirements of the hyperscaler, with future data centers also set to standardize on this technology, highlighting the company's marked differentiation in the market.
Following the Q3 report, shares of Pure Storage surged 20% as the company surpassed expectations and disclosed a significant new design win with one of the top-four hyperscalers. Analysts predict that Pure Storage's strategic investments planned for the next year will significantly impact its contributions by 2026.
After its earnings report, the company disclosed winning a major hyperscale contract, though revenue generation from this win is projected to commence after a year with few further specifics available. The company also reported a softer product gross margin and the financial forecasts suggest that operating margins might fall short of expectations for Q4 and the fiscal year 2026.
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
