These Analysts Revise Their Forecasts On Pure Storage After Q3 Results

Core Insights - Pure Storage Inc. reported quarterly earnings of 58 cents per share, meeting consensus estimates, while quarterly revenue reached $964.45 million, surpassing analyst expectations of $956.14 million [1] - The CEO of Pure Storage highlighted the company's strong performance, emphasizing the importance of data accessibility in the AI era and the role of their Enterprise Data Cloud in addressing data management challenges [2] - Following the earnings announcement, Pure Storage raised its fiscal 2026 revenue guidance to between $3.63 billion and $3.64 billion, slightly above the previous estimate of $3.62 billion [3] Analyst Reactions - UBS analyst David Vogt maintained a Sell rating on Pure Storage, raising the price target from $55 to $60 [5] - JP Morgan analyst Samik Chatterjee kept an Overweight rating but lowered the price target from $110 to $105 [5] - Wedbush analyst Matt Bryson maintained an Outperform rating and increased the price target from $90 to $100 [5] Market Response - Following the earnings report, Pure Storage shares experienced a significant decline of 26.3%, trading at $69.76 [3]