13 Best Cloud Stocks to Buy Now

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​11. Pure Storage, Inc. (NYSE:PSTG)

Market Capitalization: $25.39 billion

Analyst Upside Potential: 22.98%

Number of Hedge Fund Holders: 41

​Pure Storage, Inc. (NYSE:PSTG) is one of the Best Cloud Stocks to Buy Now. On November 17, Param Singh from Oppenheimer initiated Pure Storage, Inc. (NYSE:PSTG) with a Buy rating and a $120 price target. On the same day, Samik Chatterjee from J.P. Morgan raised the firm’s price target on the stock from $105 to $110 and reiterated a Buy rating.

​The updated positive outlook comes as the company approaches its fiscal Q3 2026 results, expected to be announced on December 2 (post-market). Analyst Singh from Oppenheimer noted that his bullish sentiment is based on the anticipation that the company will benefit from the increased creation of unstructured data for AI and data centers and the need for its storage. Moreover, the company’s bull case is further bolstered by its expanding collaborations with tier 1 and 2 hyperscalers.

​Management during the fiscal Q2 2026 earnings call presented its Q3 2026 outlook. Pure Storage, Inc. (NYSE:PSTG) expects revenue in the range of $950 million to $960 million, reflecting 14.3% to 15.5% year-over-year growth. Moreover, the non-GAAP operating income is anticipated in the range of $185 million to $195 million, reflecting 10.6% to 16.6% year-over-year growth.

​Pure Storage, Inc. (NYSE:PSTG) provides advanced data storage and management solutions that support various data types and workloads across on-premises, cloud, and hosted environments.

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