- Analysts raised their price targets on Pure Storage Inc (NYSE: PSTG) post a solid Q4 beat.
- Barclays analyst Tim Long raised the firm's price target on Pure Storage to $39 from $35 (47.3% upside) and kept an Overweight rating on the shares. The company beat Q4 estimates and released better than expected guidance for fiscal 2023, Long said.
- Raymond James analyst Simon Leopold maintained Pure Storage with a Strong Buy and raised the price target from $38 to $39.
- Wells Fargo analyst Aaron Rakers maintained Pure Storage with an Overweight and raised the price target from $37 to $40 (51.1% upside).
- Lake Street analyst Eric Martinuzzi raised the firm's price target on Pure Storage to $36 from $34 (35.95% upside) and kept a Buy rating on the shares.
- He raised his estimates after the company reported fourth-quarter upside that he argues came from "good linearity, as opposed to pull-forwards or year-end budget flushes." Pure Storage's installed base drove the Q4 beat, and the pipeline entering Q1 suggests demand continues.
- Price Action: PSTG shares traded higher by 16.60% at $30.90 in the market on the last check Thursday.
