Pure Storage price target raised to $61 from $56 at Barclays

Barclays raised the firm’s price target on Pure Storage (PSTG) to $61 from $56 and keeps an Equal Weight rating on the shares following the earnings report. A tier one hyperscale win was announced, although revenues are not expected for over a year and other details are limited, the analyst tells investors in a research note. The firm says Pure Storage’s product gross margin was light, and guidance implies an operating margin miss in Q4 and fiscal 2026.