11:37 AM EDT, 08/28/2025 (MT Newswires) -- Pure Storage ( PSTG ) shares rose 28% in recent Thursday trading following better-than-expected Q2 results and a UBS price target boost to $55 from $50

The company reported fiscal Q2 adjusted earnings late Wednesday of $0.43 per share, down from $0.44 a year earlier. Analysts polled by FactSet expected $0.39. Revenue for the quarter ended Aug. 3 was $861.0 million, up from $763.8 million a year earlier. Analysts surveyed by FactSet expected $846.2 million.

Pure Storage ( PSTG ) expects Q3 revenue of $950 million to $960 million. Analysts expect $913.2 million. The company also lifted its fiscal 2026 revenue guidance to $3.60 billion to $3.63 billion from $3.515 billion. Analysts expect $3.52 billion.

UBS said in a Wednesday research report that the company's revenue upside in Q2 was driven by board-based strength across the storage portfolio despite non-volatile flash memory pressures.

UBS raised its fiscal 2026 and 2027 revenue estimates to $3.61 billion and $4 billion from $3.52 billion and $3.83 billion, respectively. It also raised its earnings estimates for the two years to $1.88 and $1.99, up from $1.75 and $1.85, respectively.

Price: 78.39, Change: +17.53, Percent Change: +28.80