Piper Sandler upgraded Pure Storage (PSTG) to Overweight from Neutral with a price target of $76, up from $56. The company’s fiscal Q3 results were better than expected given traditional sales, but lead metrics struggled, the analyst tells investors in a research note. However, the firm says Pure Storage’s “significant” design win with a top-four cloud hyperscaler “removes risk and creates a catalyst for upside ahead.” The opportunity with the hyperscaler alone represents a $500M opportunity in 2026, and more hyperscalers could be coming, contends Piper.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on PSTG:
- Pure Storage price target raised to $61 from $56 at Barclays
- Pure Storage Inc. Reports Strong Q3 Growth
- Pure Storage announces collaboration with Kioxia
- Closing Bell Movers: Salesforce gains 3%, Okta up 14% after earnings
- Pure Storage jumps 23% to $66.05 after Q3 results, guidance top estimates
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
