Citi raises target for Pure Storage stock to USD 160.00

Published on 10/07/2026 at 05:53 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Second-quarter revenue reached USD 1.19 billion, up 38 percent year over year. Pure Storage stock had EUR 130.73 as its October 5, 2026 prior close.

Pure Storage, US74624M1027, Illustration mit AI erstellt.

As Yahoo Finance reported on October 1, 2026, Citi raised its price target for Pure Storage from USD 130.00 to USD 160.00. Recent coverage uses Everpure for the company formerly known as Pure Storage, while the ISIN remains US74624M1027. The target revision puts long-term growth expectations at the center of the stock story.

Fiscal 2028 sets the growth bar

The company introduced preliminary fiscal 2028 revenue guidance of USD 7.00 billion to USD 7.30 billion, representing growth of 39 percent to 45 percent. Non-GAAP operating income is projected at USD 1.70 billion to USD 1.90 billion, implying growth of 80 percent to 100 percent, according to International Business Times.

The same report said fiscal 2027 revenue guidance was reaffirmed at USD 5.03 billion to USD 5.07 billion, with non-GAAP operating income of USD 940.00 million to USD 960.00 million. For investors, the key test is whether operating income can expand faster than revenue while the company moves deeper into artificial intelligence, software and hyperscale infrastructure.

Quarterly numbers support the thesis

In the second quarter of fiscal 2027, revenue rose 38 percent year over year to USD 1.19 billion, while product revenue increased 54 percent, according to Yahoo Finance. The result gives the new guidance a numerical base: quarterly sales growth was already 38 percent before the fiscal 2028 outlook targets 39 percent to 45 percent.

ScanX reported adjusted earnings per share of USD 0.70 against a USD 0.58 consensus estimate in the same quarter. That comparison points to a 20.69 percent earnings-per-share premium to consensus, although the source describes the figures as adjusted rather than GAAP.

Valuation now meets execution

Analyst enthusiasm has risen alongside the outlook. Yahoo Finance reported that Bank of America lifted its target from USD 150.00 to USD 180.00, while Citi moved from USD 130.00 to USD 160.00. A counterweight is valuation: the same report said Morgan Stanley preferred buying weakness rather than chasing the recent advance.

At Lang & Schwarz, the prior close for Pure Storage was EUR 130.73 on October 5, 2026. The further course of trading is shown by the continuously updated real-time quote of Pure Storage stock.