Pure Storage Inc. shares rose to $118.93 on August 18, 2026, marking an all‑time high. The price was 0.98% below the 52‑week peak of $118.81, representing a 106.54% gain over the past year and a 74.59% increase year‑to‑date. The company’s market value reached $39.11 billion and revenue grew 21% year over year.
InvestingPro data places the stock on its "Most Overvalued" list, indicating a valuation above the calculated fair value.
Analyst coverage remains bullish. Guggenheim lifted its price target to $150, citing resilience in the storage market and recent hyperscaler contracts. TD Cowen kept a Buy rating with a $100 target, while Evercore ISI rates the stock Outperform and sets a $90 target.
Pure Storage announced a new design win and a supply agreement with a second top‑five hyperscaler, expanding its DirectFlash technology for hyperscale workloads. Following a first‑quarter earnings beat, Evercore ISI said the company modestly raised its fiscal 2027 guidance and expects an improved outlook for the second quarter.
Citi analysts highlighted strong earnings from hardware OEMs driven by demand for AI infrastructure, underscoring the broader market tailwinds for storage providers.
