5 Most Promising Mid-Cap Stocks According to Analysts

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

Number of Hedge Fund Holders: 35

One-Year Price Target: $38.75

Pure Storage, Inc. (NYSE:PSTG) is a California-based technology company. Pure Storage, Inc. (NYSE:PSTG) has gained about 17% over the past 12 months. In November, Pure Storage, Inc. (NYSE:PSTG) posted its third quarter results. Adjusted EPS in the quarter came in at $0.31, beating estimates by $0.06. Revenue in the quarter jumped about 20.1% on a YoY basis to reach $676 million, beating estimates by $3.92 million. Pure Storage, Inc. (NYSE:PSTG)’s subscription services revenue in the quarter jumped 30% on a YoY basis to total $244.8 million.

At the end of the third quarter of 2022, 35 hedge funds out of the 920 funds tracked by Insider Monkey had stakes in Pure Storage, Inc. (NYSE:PSTG). The total value of these stakes was about $1.1 billion. The biggest stakeholder of Pure Storage, Inc. (NYSE:PSTG) during this period was Alex Sacerdote’s Whale Rock Capital Management which had a $160 million stake in the company.