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Shares of Pure Storage Inc (PSTG) reached an all-time high of 73.75 USD, marking a significant milestone for the data storage company. The stock has shown remarkable momentum with a 9.21% gain in the past week alone, according to InvestingPro data. This surge has helped Pure Storage achieve a market capitalization of $23.76 billion, supported by solid fundamentals including a 69.25% gross profit margin and 10.85% revenue growth. While current valuations appear stretched with a P/E ratio of 154.96x, the company maintains strong operational performance. The achievement of this new peak highlights Pure Storage’s continued growth and its ability to capitalize on the increasing demand for data solutions, positioning it favorably in a competitive industry landscape. For deeper insights into Pure Storage’s valuation and growth prospects, investors can access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Pure Storage has reported impressive financial results for the second quarter of fiscal 2026, surpassing analyst expectations. The company posted revenue of $861 million and earnings per share of $0.43, exceeding forecasts of $846 million and $0.39, respectively. Pure Storage’s revenue growth was approximately 12.7%, with notable increases in both product and services/software segments. Following these results, several financial firms have adjusted their price targets for the company. Lake Street Capital Markets raised its target to $80, while maintaining a Buy rating, and Raymond James increased its target to $88, citing the company’s strong performance. Needham also raised its price target to $85, expressing confidence in Pure Storage’s future revenue prospects. BofA Securities adjusted its price target to $80, highlighting improved operating margins, though it maintained a Neutral rating. Evercore ISI also raised its target to $80, noting the company’s overall sales growth and strong earnings performance. These developments reflect a positive outlook from analysts on Pure Storage’s financial health.
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