Pure Storage Inc. (PSTG) Earnings: Q3 2026

Pure Storage Inc. (PSTG) — Q3 2026 earnings

Pure Storage reported revenue growth but weakening profitability and cash flow. Third-quarter revenue increased year‑over‑year while gross profit also rose, yet operating profit, net income and diluted earnings per share declined. Cash from operations fell sharply despite higher capital spending, and total liabilities increased on the balance sheet.

Revenue: $964.5 million, up 16.05% year‑over‑year.

Gross profit: $697.4 million, up 19.63% year‑over‑year; cost of sales was $267.1 million, up 7.63%.

Operating profit: $53.9 million, down 9.67% year‑over‑year.

Net income attributable to common shareholders: $54.8 million, down 13.88% year‑over‑year.

Diluted EPS: $0.16, a decline of 15.79% year‑over‑year.

Cash from operating activities: $116.0 million, down 51.69% year‑over‑year.

Purchases of property, plant and equipment (capex): $63.4 million, up 20.19% year‑over‑year.

Cash and cash equivalents: $852.8 million, down 4.66% year‑over‑year.

Total liabilities: $2.8 billion, up 15.21% year‑over‑year.

How results compared with estimates:

Revenue vs. estimate: actual $964.5 million versus estimate $975.3 million (slightly below the consensus).

EPS vs. estimate: actual $0.16 versus estimate $0.59 (a material shortfall relative to expectations).

Takeaway: Pure Storage (PSTG) is growing top line and improving gross profit, but the company faces margin compression and a meaningful drop in cash generation this quarter. Elevated capital spending and higher liabilities warrant watching, and the significant EPS miss may influence near‑term investor sentiment.

Pure Storage Inc. Insider Trading Activity

Pure Storage Inc. insiders have traded $PSTG stock on the open market 33 times in the past 6 months. Of those trades, 0 have been purchases and 33 have been sales.

Here’s a breakdown of recent trading of $PSTG stock by insiders over the last 6 months:

JOHN COLGROVE (Chief Visionary Officer) has made 0 purchases and 20 sales selling 800,000 shares for an estimated $57,217,185.
MONA CHU (Chief Accounting Officer) has made 0 purchases and 4 sales selling 44,045 shares for an estimated $3,602,806.
AJAY SINGH (Chief Product Officer) has made 0 purchases and 3 sales selling 47,895 shares for an estimated $3,361,283.
JOHN FRANCIS MURPHY has made 0 purchases and 2 sales selling 18,193 shares for an estimated $1,010,217.
DAN FITZSIMONS (Chief Revenue Officer) has made 0 purchases and 3 sales selling 12,051 shares for an estimated $838,859.
ROXANNE TAYLOR sold 3,000 shares for an estimated $230,790

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

Pure Storage Inc. Hedge Fund Activity

We have seen 424 institutional investors add shares of Pure Storage Inc. stock to their portfolio, and 361 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

ARROWSTREET CAPITAL, LIMITED PARTNERSHIP added 3,573,493 shares (+786.9%) to their portfolio in Q3 2025, for an estimated $299,494,448
UBS AM, A DISTINCT BUSINESS UNIT OF UBS ASSET MANAGEMENT AMERICAS LLC added 2,078,422 shares (+72.9%) to their portfolio in Q3 2025, for an estimated $174,192,547
T. ROWE PRICE INVESTMENT MANAGEMENT, INC. removed 1,962,390 shares (-21.7%) from their portfolio in Q3 2025, for an estimated $164,467,905
POLAR CAPITAL HOLDINGS PLC added 1,345,207 shares (+90.5%) to their portfolio in Q3 2025, for an estimated $112,741,798
JPMORGAN CHASE & CO removed 1,116,001 shares (-44.2%) from their portfolio in Q3 2025, for an estimated $93,532,043
CHAMPLAIN INVESTMENT PARTNERS, LLC removed 1,115,598 shares (-20.8%) from their portfolio in Q3 2025, for an estimated $93,498,268
FIRST TRUST ADVISORS LP removed 937,878 shares (-32.7%) from their portfolio in Q3 2025, for an estimated $78,603,555

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

Pure Storage Inc. Congressional Stock Trading

Members of Congress have traded $PSTG stock 4 times in the past 6 months. Of those trades, 2 have been purchases and 2 have been sales.

Here’s a breakdown of recent trading of $PSTG stock by members of Congress over the last 6 months:

REPRESENTATIVE LISA C. MCCLAIN has traded it 4 times. They made 2 purchases worth up to $30,000 on 10/30, 06/17 and 2 sales worth up to $30,000 on 10/31, 10/30.

To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard.

Pure Storage Inc. Analyst Ratings

Wall Street analysts have issued reports on $PSTG in the last several months. We have seen 11 firms issue buy ratings on the stock, and 1 firms issue sell ratings.

Here are some recent analyst ratings:

Oppenheimer issued a "Outperform" rating on 11/17/2025
JP Morgan issued a "Overweight" rating on 11/17/2025
Citigroup issued a "Buy" rating on 10/21/2025
Raymond James issued a "Outperform" rating on 10/17/2025
Guggenheim issued a "Buy" rating on 09/26/2025
Evercore ISI Group issued a "Outperform" rating on 09/26/2025
Needham issued a "Buy" rating on 09/26/2025

To track analyst ratings and price targets for Pure Storage Inc., check out Quiver Quantitative's $PSTG forecast page.

Pure Storage Inc. Price Targets

Multiple analysts have issued price targets for $PSTG recently. We have seen 16 analysts offer price targets for $PSTG in the last 6 months, with a median target of $94.5.

Here are some recent targets:

Param Singh from Oppenheimer set a target price of $120.0 on 11/17/2025
Pinjalim Bora from JP Morgan set a target price of $110.0 on 11/17/2025
Erik Woodring from Morgan Stanley set a target price of $90.0 on 11/17/2025
Asiya Merchant from Citigroup set a target price of $110.0 on 10/21/2025
Amit Daryanani from Evercore ISI Group set a target price of $105.0 on 10/20/2025
Simon Leopold from Raymond James set a target price of $99.0 on 10/17/2025
Mike Cikos from Needham set a target price of $100.0 on 09/26/2025