Pure Storage Inc Stock Price, News & Analysis

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.

Pure Storage (NYSE: PSTG) has appointed Ajay Singh as Chief Product Officer, effective immediately. Singh, with over 25 years of experience, will oversee all business units and Global Alliances, enhancing the company's product portfolio and customer experience. CEO Charles Giancarlo emphasized that Singh's leadership will further Pure’s innovation and industry leadership in storage management. Previously at VMware, Singh is expected to bring significant expertise to the role, driving growth and maintaining customer satisfaction.

Pure Storage (NYSE: PSTG) announced its participation in two upcoming virtual conferences. The first is the 23rd Annual Needham Virtual Growth Conference on January 11, 2021, featuring CFO Kevan Krysler and VP Rob Lee. The second event is the Goldman Sachs 2021 Virtual Tech and Internet Conference on January 12, 2021, with presentations from CEO Charles Giancarlo and CFO Kevan Krysler. Both events will be webcast live and can be accessed on their investor relations website. Pure Storage, recognized as a leader in the 2020 Gartner Magic Quadrant, continues to innovate in storage solutions.

On December 15, 2020, Pure Storage (NYSE: PSTG) announced it is launching Pure as-a-Service in AWS Marketplace and introducing a Cloud Block Store Efficiency Guarantee program. These offerings aim to enhance hybrid architecture mobility for enterprises, enabling them to utilize cloud economics and a flexible 'pay as you go' model. The Cloud Block Store program promises operational cost savings without compromising features. Pure's FlashBlade and FlashArray have achieved AWS Outposts Ready designations, affirming their capabilities in hybrid cloud solutions.

Pure Storage (NYSE: PSTG) has been named a Leader in the 2020 Gartner Magic Quadrant for Primary Storage Arrays, marking its seventh consecutive year in this category. The recognition highlights Pure's strategic approach to providing real-time, hybrid cloud data storage solutions. The company has introduced innovative products such as the third-generation all-NVMe FlashArray//X and capacity-optimized all-QLC FlashArray//C. Additionally, Pure Storage has shown increased adoption of its service models, affirming its position as a top choice among enterprise IT firms.

Portworx by Pure Storage has achieved the AWS Outposts Ready designation, confirming its successful integration with AWS Outposts. This recognition positions Portworx as an AWS Partner with fully tested products like Portworx Enterprise, available in AWS Marketplace. The AWS Outposts Ready Program aims to help customers identify integrated products for efficient deployment. Portworx offers solutions for Kubernetes data management, data protection, and capacity management, serving prominent companies like Comcast and T-Mobile.

Pure Storage (NYSE: PSTG) reported Q3 2020 financials with revenue of $410.6 million, a 4% decline year-over-year. Subscription services revenue rose 29% to $136.1 million. Notably, GAAP gross margin was 67.3%, with a non-GAAP operating income of $3.4 million. The company announced the acquisition of Portworx to enhance its Kubernetes offerings. Although Q4 expectations indicate a decline to $480 million, ongoing strong demand in its Subscription Services and product sales reflects positive momentum in the hybrid cloud space.