Pure Storage, Inc. (PSTG) Gains Traction as Wall Street Raises Expectations

2 days ago 2

Pure Storage, Inc. (NYSE:PSTG) is among the best hardware stocks to bargain according to analysts. As of December 8, statement sentiment connected Pure Storage, Inc. (NYSE:PSTG) is mostly favorable, with much than two-thirds of analysts covering the banal assigning a ‘Buy’ rating. While the people terms ranges from $60 to $120, the median terms people of $100 implies astir 40% upside from the existent price.

On December 3, TD Cowen lifted the terms people connected Pure Storage, Inc. (NYSE:PSTG) to $100 from $85, portion keeping a ‘Buy’ standing connected the stock, arsenic reported by TheFly. This upward revision comes arsenic analysts assessed the company’s operating borderline enlargement prospects, which they judge are temporarily stalled owed to imaginable increases successful operating expenses. Although volatility remains, the steadfast noted that the roadworthy up appears bright.

Needham Reiterates Buy connected Backblaze, Trims Price Target to $8 After Q3 Print

TD Cowen sees the company’s fiscal exemplary arsenic babelike connected winning hyperscale customers. A testament to this is the company’s forecasted 17% operating borderline for 2025, which is little than the rival NetApp’s anticipated 29% for the aforesaid period. Despite this, Pure Storage, Inc. (NYSE:PSTG) has sustained astir 13% gross maturation successful the past year, reaching $3.48 billion. As absorption continues to absorption connected its concern strategy, the company’s gross maturation crippled remains strong, TD Cowen concluded.

Pure Storage, Inc. (NYSE:PSTG) is simply a California-based supplier of information retention and absorption technologies solutions. Founded successful 2009, the institution offers Purity software, FlashArray integrated hardware systems, and FlashBlade integrated hardware systems.

While we admit the imaginable of PSTG arsenic an investment, we judge definite AI stocks connection greater upside imaginable and transportation little downside risk. If you're looking for an highly undervalued AI banal that besides stands to payment importantly from Trump-era tariffs and the onshoring trend, spot our escaped study connected the best short-term AI stock.

READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money.

Disclosure: None.

Read Entire Article