
Pure Storage (PSTG) Stock Forecast & Price Target
Pure Storage (PSTG) Analyst Ratings
Bulls say
Pure Storage Inc. exhibits strong financial momentum, highlighted by a 24% year-over-year increase in remaining performance obligations totaling $2.94 billion and a subscription ARR growth of 17% year-over-year, which reached $1.84 billion. The company's deferred revenues saw a sequential growth of 2.5% quarter-over-quarter, indicating robust demand for its subscription services, while overall revenues rose by 16% year-over-year to $964.5 million, surpassing both management guidance and consensus estimates. Additionally, the company's positive outlook for durable revenue growth, driven by enhanced operating margins and increased market share, positions Pure Storage favorably for continued financial strength in the coming years.
Bears say
The outlook for Pure Storage's stock appears negative due to several fundamental challenges, including a significant underperformance against revenue guidance attributed to greater-than-expected declines in NAND pricing. Additionally, the company's subscription offerings may hinder revenue growth due to their ratable nature, which creates mismatches with expenses and further complicates financial performance. Finally, external pressures such as increased competition, potential supply chain disruptions from geopolitical tensions, and a sluggish economic environment may significantly impact both demand for Pure Storage's products and overall profitability.
This aggregate rating is based on analysts' research of Pure Storage and is not a guaranteed prediction by Public.com or investment advice.
Pure Storage (PSTG) Analyst Forecast & Price Prediction
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