
Pure Storage (PSTG) Stock Forecast & Price Target
Pure Storage (PSTG) Analyst Ratings
Bulls say
Pure Storage Inc. demonstrated strong financial performance, highlighted by remaining performance obligations of $2.94 billion, representing a 24% year-over-year increase, coupled with subscription annual recurring revenue (ARR) growth of 17% year-over-year to $1.84 billion. The company reported total revenue of $964.5 million for FQ3, increasing 16% year-over-year and surpassing both management's guidance and consensus estimates. Additionally, the growth in deferred revenues to $1.96 billion, up 2.5% quarter-over-quarter, supports expectations of durable revenue growth and improved operating margins over the long term.
Bears say
Pure Storage Inc is facing a negative outlook primarily due to significant declines in NAND pricing that have led to revenue underperformance and guidance miss in recent quarters. Additionally, the company's subscription revenue model may create a mismatch with expenses, potentially hampering overall revenue growth and profitability. Lastly, external risks, such as increased competition and a weakening economic environment, threaten to further pressure IT budgets and demand for Pure Storage's products and services.
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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