William Blair analyst Jason Ader has maintained their bullish stance on PSTG stock, giving a Buy rating today.
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Jason Ader has given his Buy rating due to a combination of factors that highlight Pure Storage’s strong performance and promising outlook. The company reported impressive second-quarter results, surpassing key metrics and significantly raising its full-year revenue guidance. This performance has bolstered investor confidence in Pure Storage’s ability to achieve sustained enterprise share gains and capitalize on the increasing demand driven by AI.
Furthermore, Pure Storage’s revenue growth of 12.7% exceeded consensus expectations, driven by robust enterprise momentum and strength across its portfolio, including standout offerings like Evergreen//One and Cloud Block Store. The company’s profitability also impressed, with non-GAAP product gross margin and operating margin both coming in above consensus. Additionally, the company’s third-quarter and full-year guidance were notably strong, suggesting continued growth and profitability. These factors collectively support Jason Ader’s Buy rating for Pure Storage.
In another report released today, J.P. Morgan also maintained a Buy rating on the stock with a $80.00 price target.
Based on the recent corporate insider activity of 64 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PSTG in relation to earlier this year.