Pure Storage Inc Stock Price, News & Analysis

Pure Storage (NYSE: PSTG) announced the availability of Pure Cloud Block Store on Microsoft Azure Marketplace, enhancing cloud data mobility and application portability. This launch allows enterprises to manage hybrid IT environments seamlessly and addresses the growing demand for cloud capabilities. Key benefits include a common dataplane across multiclouds, improved data resilience for SQL Server workloads, and cost efficiencies through advanced data reduction. Pure’s Evergreen program integrates on-premises solutions with cloud offerings, providing flexible storage consumption options.

Pure Storage (NYSE: PSTG) and Equinix (Nasdaq: EQIX) have partnered to introduce Pure Storage on Equinix Metal, enhancing storage as a service in a multi-cloud environment. This new offering streamlines infrastructure management, allowing enterprises to shift to a more flexible IT model without owning data centers. With 57% of businesses opting for hybrid IT, this solution promises to reduce costs and operational risks. The service is accessible in 18 global locations and supports various applications, including high-volume and cloud-native workloads.

Portworx by Pure Storage has partnered with IBM to deliver OpenShift-based data services for hybrid cloud environments. This collaboration enables clients to utilize IBM Cloud Satellite for secure and efficient management of workloads across diverse settings. IBM aims to invest $1 billion over three years in its ecosystem initiative to enhance cloud capabilities. The partnership emphasizes the importance of edge computing and data sovereignty, providing clients with tools for data protection and security. Portworx ensures data integrity for Kubernetes applications, addressing industry needs for agile and consistent cloud services.

Pure Storage (NYSE: PSTG) announced strong financial results for its fiscal Q4 and full year ending January 31, 2021. Q4 revenue reached $502.7 million, a 2.2% increase year-over-year, while full-year revenue was $1.684 billion, up 2.5%. GAAP operating loss in Q4 was $46.8 million. However, non-GAAP operating income for the quarter was $36.7 million. Pure's remaining performance obligations rose 24% to $1.1 billion. For Q1 FY22, the company expects revenue of $405 million, indicating 14%-15% growth.

On February 22, 2021, Pure Storage (NYSE: PSTG) announced its partnership with Multiview, a leading B2B digital publisher, to aid in their transition to a hybrid cloud infrastructure. Multiview, with over 1,200 partnerships, required enhanced performance, low latency, and robust disaster recovery solutions to scale its operations. By choosing Pure FlashBlade and FlashRecover, Multiview aims for efficient data replication and faster recovery times. The collaboration promises operational flexibility and financial savings, reinforcing Pure's commitment to future-proof data solutions.

On February 16, 2021, Pure Storage (NYSE: PSTG) announced major enhancements to its unified storage portfolio, reinforcing its leadership in the enterprise storage market. Key updates include improvements to the Purity software for FlashBlade and FlashArray, which boost performance for Windows applications and enhance ransomware protection. The new features support hybrid storage, with capabilities like SafeMode snapshots and tier-1 application performance, promising up to 50% reduced latency. These innovations are part of Pure's Evergreen subscription model, ensuring no additional costs for customers.

Pure Storage (NYSE: PSTG) will host a conference call on February 24, 2021, at 2:00 p.m. PT, to discuss its financial results for the fourth quarter and full year ended January 31, 2021. The call follows the release of its financial results and will be available for live audio on the Pure Storage Investor Relations website. A replay will be available post-call for two weeks. Pure Storage is known for providing a modern data experience and has been recognized as a leader in the 2020 Gartner Magic Quadrant for Primary Storage Arrays.

Pure Storage (NYSE: PSTG) has partnered with Halifax Health, a Florida-based hospital system, to enhance clinical workflows and ensure the high availability of crucial applications, including the MEDITECH EHR system. This collaboration aims to improve patient outcomes and operational efficiency, particularly during natural disasters and the COVID-19 pandemic. By implementing Pure Storage FlashArray™, Halifax Health has significantly reduced recovery time objectives and cut storage management time by 75%. This strategic move allows for better resource management and a more resilient IT infrastructure.