• Barclays set a price target of $77 for Pure Storage (NYSE:PSTG), indicating a potential downside from its current trading price.
• The company reported a 16% year-over-year revenue growth and a 17% increase in annual recurring revenue.
• Pure Storage's stock has seen a 6.97% increase, despite concerns over a potential shift in sales economics to AI hyperscalers.

Pure Storage (NYSE:PSTG) is a company that specializes in data storage solutions, focusing on providing all-flash storage arrays. The company is known for its innovative approach to data storage, leveraging AI-driven technologies to enhance performance and efficiency. Pure Storage competes with other major players in the data storage industry, such as Dell Technologies and NetApp.

On December 3, 2025, Barclays set a price target of $77 for Pure Storage, while the stock was trading at $94.72. This represents a price difference of approximately -18.71% from the target. Despite this, Pure Storage has been upgraded to a "Buy" rating, following a dip in its stock price after the third quarter. The company reported strong results, with a 16% year-over-year revenue growth and a 17% increase in annual recurring revenue.

Pure Storage's expanding gross margins indicate strong near-term fundamentals. However, investors seem to be cautious due to management's comments about a potential shift in the company's sales economics to AI hyperscalers. This move is likely aimed at gaining market share, but it has led to some selling off of the stock. Despite this, the stock has seen a 6.97% increase, with a change of $6.17.

The stock for PSTG is currently priced at $94.72, with today's trading fluctuating between a low of $90.80 and a high of $96.50. Over the past year, the stock has reached a high of $100.59 and a low of $34.51. Pure Storage has a market capitalization of approximately $30.98 billion, and today's trading volume is 10.75 million shares.