On May 29, 2025, Evercore ISI reaffirmed its Outperform rating for Pure Storage, Inc. (NYSE:PSTG), and maintained the price target at $70. Evercore ISI noted that Pure Storage exceeded expectations in its April-quarter performance, delivering stronger-than-anticipated results.
Copyright: ralwel / 123RF Stock Photo
Evercore ISI highlighted Pure Storage’s strong April-quarter performance, reporting $779 million in revenue and $0.29 EPS, surpassing consensus estimates of $770 million revenue and $0.25 EPS. Subscription Services played a key role, growing 17.4% and accounting for over half of total sales for the first time. Also, Evergreen One Total Contract Value (TCV) grew by 70% year-over-year to $95 million during the quarter.
Pure Storage reiterated its FY 2026 outlook, projecting 11% year-over-year revenue growth to $3.5 billion and approximately 17% operating margins. This guidance includes an anticipated margin impact of around 100 basis points due to operating expenses related to the company’s partnership with Meta (NASDAQ:META).
Pure Storage, Inc. is a data storage hardware and software company. It specializes in all-flash data storage hardware and software products. The company offers hardware, software, and subscription-based storage services, including FlashArray for block storage, FlashBlade for file and object storage, and Portworx for cloud-native applications.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
