Why Pure Storage Stock Took a Dirty Dive Today

Shares of Pure Storage (NYSE: PSTG) crashed hard on Wednesday morning. At 11:30 a.m. ET, the stock was down 26% from Tuesday's closing price. The culprit? A strong earnings report with a side of fairly modest next-quarter guidance.There wasn't much wrong with Pure Storage's Q3 2026 report -- just enough for the bears to hang their hat on. For a growth stock trading at lofty valuations, that can be enough to inspire a sudden price drop.The enterprise-class data storage expert saw Q3 revenues rise 16% year over year to $964.5 million. Adjusted earnings per diluted share rose from $0.50 to $0.58. Both revenues and operating income exceeded the top end of management's guidance range for this period. The bottom-line result was in line with analyst projections, and the average Wall Street firm would have settled for top-line sales near $955.0 million.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool