Q3 2024 EPS Estimates for Pure Storage, Inc. Boosted by Northland Capmk (NYSE:PSTG) - MarketBeat

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Pure Storage, Inc. (NYSE:PSTG - Get Rating) - Stock analysts at Northland Capmk raised their Q3 2024 EPS estimates for shares of Pure Storage in a research note issued to investors on Thursday, December 1st. Northland Capmk analyst N. Chokshi now anticipates that the technology company will earn $0.04 per share for the quarter, up from their prior estimate of $0.02. The consensus estimate for Pure Storage's current full-year earnings is $0.10 per share.

A number of other equities research analysts have also commented on the stock. KeyCorp upped their price objective on shares of Pure Storage from $34.00 to $39.00 and gave the company an "overweight" rating in a research note on Thursday, September 1st. TheStreet raised shares of Pure Storage from a "c" rating to a "b" rating in a research note on Wednesday, November 30th. Susquehanna Bancshares upped their price objective on shares of Pure Storage from $40.00 to $44.00 in a research note on Thursday. Credit Suisse Group cut their target price on shares of Pure Storage from $44.00 to $40.00 and set an "outperform" rating on the stock in a research note on Thursday. Finally, Evercore ISI increased their target price on shares of Pure Storage from $33.00 to $38.00 and gave the stock an "outperform" rating in a research note on Monday, August 29th. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $38.94.

Pure Storage Stock Performance

NYSE:PSTG opened at $29.61 on Monday. The firm's fifty day moving average is $29.23 and its 200-day moving average is $28.00. Pure Storage has a 52 week low of $21.90 and a 52 week high of $36.71. The firm has a market cap of $8.85 billion, a P/E ratio of 740.44, a P/E/G ratio of 8.10 and a beta of 1.27.

Institutional Trading of Pure Storage

Institutional investors and hedge funds have recently made changes to their positions in the company. Ellevest Inc. increased its holdings in Pure Storage by 50.4% during the third quarter. Ellevest Inc. now owns 994 shares of the technology company's stock worth $27,000 after buying an additional 333 shares during the last quarter. Elequin Capital LP purchased a new stake in Pure Storage during the first quarter worth about $29,000. Altshuler Shaham Ltd purchased a new stake in Pure Storage during the third quarter worth about $31,000. IndexIQ Advisors LLC purchased a new stake in Pure Storage during the first quarter worth about $32,000. Finally, Whittier Trust Co. increased its holdings in Pure Storage by 286.8% during the third quarter. Whittier Trust Co. now owns 1,176 shares of the technology company's stock worth $32,000 after buying an additional 872 shares during the last quarter. Hedge funds and other institutional investors own 82.91% of the company's stock.

Insider Activity

In other news, Director Andrew William Fraser Brown sold 12,637 shares of the stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $30.18, for a total value of $381,384.66. Following the completion of the sale, the director now owns 55,448 shares in the company, valued at $1,673,420.64. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 6.80% of the stock is currently owned by corporate insiders.

About Pure Storage

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Pure Storage, Inc provides data storage technologies, products, and services in the United States and internationally. The company's Purity software is shared across its products and provides enterprise-class data services, such as data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object.