Pure Storage soars on forecast raise

Everpure

28/08/2025 11:15

** Shares of data storage company Pure Storage PSTG.N soar 16.5% to $70.87 premarket

** Company raises FY 2026 revenue forecast to between $3.60 bln and $3.63 bln, from $3.51 bln earlier

** Piper Sandler says the forecast raise signals estimate upside and year-end acceleration, backed by strong Meta and cloud momentum.

** "The market continues to underestimate the margin potential that the cloud deals can bring given this is perpetual software," Piper analysts say, while raising PT to $78 from $66

** J.P.Morgan raises PT to $80 from $70

** Q2 adj. EPS of 43 cents beats analysts' avg. estimate of 39 cents, Q2 revenue of $861 mln vs est. of $846.87 mln - data compiled by LSEG

** 14 out of 21 analysts rate the stock as "buy" or higher, six "hold" and one "sell"; median PT is $72.50 - data compiled by LSEG

** Up to last close, shares down about 1% YTD

 (Reporting by Avinash P in Bengaluru)

 ((Avinash.P@thomsonreuters.com;))