---
title: "These Analysts Boost Their Forecasts On Pure Storage Following Strong Q4 Results"
description: "Pure Storage, Inc. (NYSE: PSTG) reported strong Q4 results and issued positive Q1 revenue guidance. Quarterly adjusted earnings were 50 cents, beating the consensus estimate of 44 cents, and sales wer"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/108967573.md"
published_at: "2024-02-29T18:19:35.000Z"
---

# These Analysts Boost Their Forecasts On Pure Storage Following Strong Q4 Results

> Pure Storage, Inc. (NYSE: PSTG) reported strong Q4 results and issued positive Q1 revenue guidance. Quarterly adjusted earnings were 50 cents, beating the consensus estimate of 44 cents, and sales were $789.8 million, surpassing the estimate of $782.31 million. Pure Storage's CEO highlighted the company's data platform strategy and its impact on the storage industry. Several analysts raised their price targets on Pure Storage following the results. The stock price rose 22.3% to $51.52.

**Pure Storage, Inc.** (NYSE:PSTG) reported upbeat fourth-quarter results and issued strong first-quarter revenue guidance.

The company reported quarterly adjusted earnings of 50 cents, beating the consensus estimate of 44 cents. Quarterly sales clocked in at $789.8 million, above the analyst consensus estimate of $782.31 million, according to data from Benzinga Pro.

"Our data platform strategy is revolutionizing the storage industry. It helps enterprises and service providers unify fragmented data environments into a seamless, modern, and efficient system—a system performance-ready for artificial intelligence," said Charles Giancarlo, Chairman and CEO, Pure Storage. "And this can all be done now with Flash reliability, performance and economics, even at hard disk system price levels."

The company said it sees revenue of $680 million in the first quarter, versus the estimate of $667.299 million.

Pure Storage shares rose 22.3% to trade at $51.52 on Thursday.

These analysts made changes to their price targets on Pure Storage after the company reported quarterly results.

-   **UBS** raised the price target on Pure Storage from $38 to $44. UBS analyst David Vogt maintained a Neutral rating.
-   **Barclays** increased the price target on Pure Storage from $42 to $51. Barclays analyst Tim Long maintained an Overweight rating.
-   **B of A Securities** boosted the price target on Pure Storage from $42 to $50. B of A Securities analyst Wamsi Mohan maintained a Neutral rating.
-   **JP Morgan** raised the price target on Pure Storage from $45 to $50. JP Morgan analyst Pinjalim Bora maintained an Overweight rating.
-   **Morgan Stanley** raised the price target on Pure Storage from $43 to $48. Morgan Stanley analyst Meta Marshall maintained an Overweight rating.
-   **Stifel** raised the price target on Pure Storage from $41 to $46. Stifel analyst Matthew Sheerin maintained a Hold rating.

Now Read This: *NVIDIA To Rally Around 27%? Here Are 10 Top Analyst Forecasts For Thursday*

### Related Stocks

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.