Wells Fargo analyst Aaron Rakers maintains $Pure Storage (PSTG.US)$ with a buy rating, and maintains the target price at $80.
According to TipRanks data, the analyst has a success rate of 67.7% and a total average return of 25.3% 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 reported a strong quarter with Q3 results surpassing expectations. A significant aspect of the earnings call was the announcement that a major hyperscaler has chosen to adopt the company's technology for all online storage needs. This agreement also approves the use of the company's technology in all future data centers of the hyperscaler, highlighting the company's distinctive position in the market.
Pure Storage's shares increased by 20% as results surpassed expectations, accompanied by an announcement of a top-four hyperscaler design win. There is an anticipation that the company's accelerated investments next year will substantially contribute to its performance in 2026.
Pure Storage announced a significant tier-one hyperscale win; however, it is anticipated that revenues from this will not materialize for over a year, and further details remain sparse. Additionally, it was noted that Pure Storage's product gross margin has been subdued, and the guidance suggests that the operating margin may not meet expectations in Q4 and fiscal 2026.
Note:
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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.
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