12 Best Data Storage Stocks to Buy Right Now

9. Pure Storage, Inc. (NYSE:PSTG)

Number of Hedge Fund Holders: 48

Market Capitalization: $23.97 billion

On February 17, Citi lowered its price target on Pure Storage, Inc. (NYSE:PSTG) to $90 from $105 while maintaining a Buy rating, reflecting updated assumptions across the hardware and storage group ahead of upcoming fourth-quarter earnings reports. While the firm acknowledged that commentary surrounding end-market demand remains mixed, the continued Buy recommendation underscores confidence in the company’s differentiated positioning and long-term growth trajectory within enterprise storage.

During its third-quarter fiscal 2026 earnings call, Pure Storage, Inc. (NYSE:PSTG) reported revenue of $964 million, representing 16% year-over-year growth, alongside a 17% increase in operating income to $196 million and an operating margin of 20.3%. Subscription services revenue rose 14% to $430 million, accounting for 45% of total revenue, while annual recurring revenue expanded 17% to $1.8 billion, highlighting the durability of its recurring revenue model. Fourth-quarter guidance calls for revenue between $1.02 billion and $1.04 billion and operating profit of $220 million to $230 million. For the full fiscal year 2026, management expects revenue of $3.63 billion to $3.64 billion and operating profit between $629 million and $639 million. The combination of double-digit top-line growth, expanding margins, and increasing subscription penetration reinforces visibility into cash flow generation and supports a constructive long-term investment outlook.

Ninth in the list of best data storage stocks to buy right now, Pure Storage, Inc. (NYSE:PSTG) is a leading provider of all-flash data storage hardware and software solutions designed to replace traditional disk-based arrays, serving enterprise and cloud customers globally. The company was founded in 2009 and is headquartered in California.