The HPLC purity result is the area of the main peak as a percentage of all peak areas in the analytical run. Read it against the purity target on the specification: at or above the target is a pass. Then put it in context. Published HPLC purity across Pepti's public COA library of catalogue lots falls between 98.4% and 99.8% as of this page's review date; a catalogue lot well outside that range deserves a question, and a custom lot is judged against its own target, which may differ.
Remember what the number does not say. It does not measure how much peptide is in the vial, so it cannot confirm the fill; it does not count water, salts or counter-ions, which do not absorb at the detection wavelength; and it does not identify the main peak, which is the MS result's job. If measured fill was written into the specification, there is a separate line for it on the certificate; if it was not, do not read the purity figure as if it were one.
If you have the chromatogram as well as the figure, look at it: a single dominant peak with minor peaks well separated from it is the expected picture for a purified lot. Shoulders on the main peak or a cluster of close minor peaks are worth a question even when the percentage passes.