Pure Storage Thriving on Data Demand

The company indicated its revenue for fiscal year 2025 is expected to be $3.1 billion, a 10.5% annual rise. Also, its quarterly subscription revenue rose 23.5% on a year-over-year basis.

It’s no wonder PSTG shares are up 77% in 2024 so far – and they could rise more. MAPsignals data shows how Big Money investors are betting heavily on the forward picture of the stock.

Pure Storage Shares Under Big Money Accumulation

Institutional volumes reveal plenty. In the last year, PSTG has enjoyed strong investor demand, which we believe to be institutional support.

Each green bar signals unusually large volumes in PSTG shares. They reflect our proprietary inflow signal, pushing the stock higher:

Plenty of technology names are under accumulation right now. But there’s a powerful fundamental backdrop going on with Pure Storage.

Pure Storage Fundamental Analysis

Institutional support and a healthy fundamental backdrop make this company worth investigating. As you can see, PSTG has had impressive sales and EPS growth in recent years:

• 3-year sales growth rate (+19.5%)
• 3-year EPS growth rate (+16.5%)

Source: FactSet

EPS is estimated to ramp higher this year by +17.5%.

Now it makes sense why the stock has been powering to new heights. PSTG has a track record of solid financial performance.

Marrying great fundamentals with our proprietary software has found some big winning stocks over the long term.

Pure Storage has been a top-rated stock at MAPsignals. That means the stock has unusual buy pressure and growing fundamentals. We have a ranking process that showcases stocks like this on a weekly basis.

It’s made the rare Top 20 report many times in the last four years. The blue bars below show when PSTG was a top pick…rising up over time:

Tracking unusual volumes reveals the power of money flows.

This is a trait that most superstar stocks exhibit…the best of the best. Big Money demand drives stock value.

Pure Storage Price Prediction

The PSTG rally isn’t new at all. Big Money buying in the shares is signaling to take notice. Given the historical gains in share price and strong fundamentals, this stock could be worth a spot in a diversified portfolio.

Disclosure: the author holds no position in PSTG at the time of publication.

If you are a Registered Investment Advisor (RIA) or are a serious investor, take your investing to the next level, learn more about the MAPsignals process here.