Pure Storage (PSTG) Stock Forecast & Price Target

$62.51

+0.21 (+0.34%)

(As of 11:08 AM ET)

Pure Storage - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Moderate Buy
Based on 21 Analyst Ratings

Based on 21 Wall Street analysts who have issued ratings for Pure Storage in the last 12 months, the stock has a consensus rating of "Moderate Buy." Out of the 21 analysts, 1 has given a sell rating, 7 have given a hold rating, and 13 have given a buy rating for PSTG.

Consensus Price Target

$68.65
9.82% Upside

High Forecast	$80.00
Average Forecast	$68.65
Low Forecast	$45.00

According to the 21 analysts' twelve-month price targets for Pure Storage, the average price target is $68.65. The highest price target for PSTG is $80.00, while the lowest price target for PSTG is $45.00. The average price target represents a forecasted upside of 9.82% from the current price of $62.51.

Type	Current Forecast 8/23/23 to 8/22/24	1 Month Ago 7/24/23 to 7/23/24	3 Months Ago 5/25/23 to 5/24/24	1 Year Ago 8/23/22 to 8/23/23
Consensus Rating	Moderate Buy	Moderate Buy	Moderate Buy	Buy
Strong Buy	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)	1 Strong Buy rating(s)
Buy	13 Buy rating(s)	13 Buy rating(s)	12 Buy rating(s)	11 Buy rating(s)
Hold	7 Hold rating(s)	6 Hold rating(s)	4 Hold rating(s)	1 Hold rating(s)
Sell	1 Sell rating(s)	1 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)
Consensus Price Target	$68.65	$69.11	$52.26	$40.11
Forecasted Upside	9.82% Upside	10.78% Upside	9.35% Upside	36.27% Upside

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PSTG Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.

PSTG Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.

Pure Storage Stock vs. The Competition

Type	Pure Storage	Computer and Technology Companies	S&P 500
Consensus Rating Score	2.57	2.62	2.51
Consensus Rating	Moderate Buy	Moderate Buy	Moderate Buy
Predicted Upside	10.16% Upside	353.90% Upside	8.74% Upside
News Sentiment Rating	Positive News	Neutral News	Positive News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export to Excel

Date	Brokerage	Analyst Name	Action	Rating	Price Target	Upside/Downside on Report Date
8/19/2024	Piper Sandler 2 of 5 stars		Initiated Coverage	Neutral	$60.00	-3.88%
7/2/2024	UBS Group 4 of 5 stars	D. Vogt Subscribe to MarketBeat All Access for the recommendation accuracy rating	Downgrade	Neutral ➝ Sell	$44.00 ➝ $47.00	-28.23%
6/25/2024	Guggenheim 3 of 5 stars		Reiterated Rating	Buy ➝ Buy	$72.00 ➝ $72.00	+14.34%
6/21/2024	Susquehanna Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Positive ➝ Positive	$75.00 ➝ $80.00	+24.59%
6/21/2024	Needham & Company LLC Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Buy ➝ Buy	$80.00 ➝ $80.00	+21.32%
6/12/2024	Morgan Stanley Subscribe to MarketBeat All Access for the recommendation accuracy rating		Downgrade	Overweight ➝ Equal Weight	$60.00 ➝ $60.00	-9.86%
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5/30/2024	Northland Capmk Subscribe to MarketBeat All Access for the recommendation accuracy rating	N. Chokshi Subscribe to MarketBeat All Access for the recommendation accuracy rating	Downgrade	Strong-Buy ➝ Hold
5/30/2024	Citigroup Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$65.00 ➝ $75.00	+18.43%
5/30/2024	Barclays Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Equal Weight ➝ Equal Weight	$51.00 ➝ $56.00	-11.03%
5/30/2024	Lake Street Capital Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$48.00 ➝ $70.00	+11.22%
5/30/2024	JPMorgan Chase & Co. Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight ➝ Overweight	$50.00 ➝ $75.00	+18.76%
5/30/2024	Wells Fargo & Company Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight ➝ Overweight	$70.00 ➝ $75.00	+17.26%
5/30/2024	Evercore ISI Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Outperform ➝ Outperform	$65.00 ➝ $75.00	+19.50%
5/30/2024	Bank of America Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Neutral ➝ Neutral	$57.00 ➝ $68.00	+8.35%
5/30/2024	Raymond James Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Outperform ➝ Outperform	$63.00 ➝ $73.00	+16.32%
5/30/2024	Stifel Nicolaus Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Hold ➝ Hold	$46.00 ➝ $65.00	+3.36%
5/30/2024	Northland Securities Subscribe to MarketBeat All Access for the recommendation accuracy rating		Downgrade	Outperform ➝ Market Perform	$58.00 ➝ $68.00	-0.07%
5/30/2024	TD Cowen Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$60.00 ➝ $80.00	+26.98%
5/30/2024	KeyCorp Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight ➝ Overweight	$64.00 ➝ $79.00	+25.40%
5/28/2024	Wedbush Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Outperform ➝ Outperform	$50.00 ➝ $70.00	+12.47%
8/31/2023	Credit Suisse Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Outperform ➝ Outperform	$45.00	+23.86%
6/16/2023	Deutsche Bank Aktiengesellschaft Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target		$36.00 ➝ $42.00	+10.21%
6/1/2023	888 Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Maintains
12/1/2022	Susquehanna Bancshares Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target		$40.00 ➝ $44.00	+50.74%
9/6/2022	The Goldman Sachs Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target		$44.00	+52.94%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Thursday at 11:30 AM ET.

PSTG Forecast - Frequently Asked Questions

What is Pure Storage's forecast for 2024?: According to the research reports of 21 Wall Street equities research analysts, the average twelve-month stock price forecast for Pure Storage is $68.65, with a high forecast of $80.00 and a low forecast of $45.00.
Should I buy or sell Pure Storage stock right now?: 21 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Pure Storage in the last year. There is currently 1 sell rating, 7 hold ratings and 13 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "moderate buy" PSTG shares.
Does Pure Storage's stock price have much upside?: According to analysts, Pure Storage's stock has a predicted upside of 10.04% based on their 12-month stock forecasts.
Has Pure Storage been downgraded by Wall Street analysts recently?: Over the previous 90 days, Pure Storage's stock had 4 downgrades by analysts.
What analysts cover Pure Storage?: Pure Storage has been rated by research analysts at Bank of America, Barclays, Citigroup, Evercore ISI, Guggenheim, JPMorgan Chase & Co., KeyCorp, Lake Street Capital, Morgan Stanley, Needham & Company LLC, Northland Capmk, Northland Securities, Piper Sandler, Raymond James, Stifel Nicolaus, Susquehanna, TD Cowen, UBS Group, Wedbush, and Wells Fargo & Company in the past 90 days.
Do Wall Street analysts like Pure Storage more than its competitors?: Analysts like Pure Storage less than other "computer and technology" companies. The consensus rating score for Pure Storage is 2.57 while the average consensus rating score for "computer and technology" companies is 2.62. Learn more on how PSTG compares to other companies.