Barclays Raises PT on Pure Storage (PSTG) to $70 From $57, Keeps an Equal Weight Rating

Pure Storage, Inc. (NYSE:PSTG) is one of the best hot large cap stocks to buy according to hedge funds. On August 29, Barclays raised the firm’s price target on Pure Storage, Inc. (NYSE:PSTG) to $70 from $57 while keeping an Equal Weight rating on the shares.

Is Pure Storage, Inc. (PSTG) The Best Hardware Stock To Buy Now?

The firm told investors in a research note that Pure Storage, Inc. (NYSE:PSTG) reported strength across the board and lifted its fiscal 2026 outlook, supporting the price target upgrade.

Pure Storage, Inc. (NYSE:PSTG) reported its fiscal Q2 2025 earnings on August 27, with total revenue growth of 13% year-over-year in the quarter. Subscription services revenue for the quarter rose 15% year-over-year to $414.7 million.

Pure Storage, Inc. (NYSE:PSTG) is involved in the delivery of innovative and disruptive data storage, services, and products that allow customers to maximize the value of data.

While we acknowledge the potential of PSTG to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than PSTG and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.