Pure Storage (PSTG) stock tumbled late Wednesday, despite the enterprise data storage company posting fiscal fourth-quarter results ahead of expectations. A mixed outlook for the current quarter could be pressuring shares.
Pure Storage said that it earned an adjusted 45 cents per share on sales of $880 million for the Feb. 2-ended quarter. Analysts polled by FactSet projected Pure Storage's adjusted earnings would come in at 41 cents per share, with sales of $869 million.
↑ X NOW PLAYING What Is Base Counting And How Can It Help You Properly Assess A Stock Chart?Pure Storage's adjusted earnings dipped 10% on a per-share basis, while sales increased 11%.
"We achieved a major financial milestone in fiscal year 2025, surpassing $3 billion in total revenue for the first time while delivering strong operating profit," Pure Storage CFO Kevan Krysler said in a news release. "It was a pivotal year marked by industry-leading innovation, setting the stage for sustainable long-term growth."
Pure Storage said in a news release that it expects sales of $770 million for the current quarter. Analysts were looking for $769 million, according to FactSet. The company also projected non-GAAP operating income of $80 million, while analysts were projecting $93 million, according to FactSet.
On the stock market today, Pure Storage stock is down more than 12% at 54.85 in after-hours action.
Mountain View, Calif.-based Pure Storage offers flash-based data storage hardware, as well as software tools to manage data storage. Shares rallied after Pure Storage last reported quarter results in December. Earnings beat expectations and Pure Storage announced a first-ever "design win" for its flash data storage technology to work with a top-four cloud hyperscaler.
Pure Storage stock soared 78% in 2024. The rally extended into 2025, with Pure Storage stock reaching a record high of 73.67 on Jan. 22. But the stock has pulled back since then, off 13% from that high and trading roughly flat year-to-date.
Coming into the report, Pure Storage stock has an IBD Composite Rating of 84 out of a best-possible 99, according to IBD Stock Checkup. The score combines five separate proprietary ratings into one rating. The best growth stocks have a Composite Rating of 90 or better.
Pure Storage's IBD Relative Strength Rating is 85. The RS Rating means that Pure Storage has outperformed 85% of all stocks in IBD's database over the past 12 months.
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