Pure Storage Inc Stock Price, News & Analysis

Pure Storage has been awarded the Flash Memory Summit 2020 Best of Show Award for Most Innovative Flash Memory Technology for its FlashArray//C. This array is recognized as the industry's first all-QLC flash storage solution, offering consistent NVMe performance and cost efficiencies for businesses transitioning from legacy hybrid arrays. The award highlights Pure Storage's commitment to storage innovation and its role in enhancing enterprise-grade performance for modern workloads, effectively addressing capacity and cost challenges.

Pure Storage (NYSE: PSTG) will hold a conference call on November 24, 2020, at 2:00 p.m. PT to discuss its fiscal third-quarter financial results for the period ending November 1, 2020. The call will follow the release of its financial results, which are anticipated to provide insights into the company's performance and growth strategy. Investors can access the live audio broadcast through the Pure Storage Investor Relations website, with a replay available for two weeks.

On November 4, 2020, Pure Storage (NYSE: PSTG) appointed Dominick Delfino as Chief Revenue Officer and Global Head of Sales. Delfino, with extensive experience in software sales, aims to accelerate growth and introduce new market strategies. The company also reported preliminary Q3 FY21 revenue of approximately $410 million. The official results will be announced on November 24, 2020. Delfino's appointment comes as the company focuses on enhancing its multi-cloud data services, while former COO Paul Mountford will step down at fiscal year's end.

On October 29, 2020, Pure Storage (NYSE: PSTG) announced enhancements to its Pure Partner Program, focusing on increased partner incentives, marketing, support, and training. The new Pure WaveMakers program will reward solution-selling partners, launching on November 16, 2020. Key updates include a new Partner Portal for easy access to resources, a focus on education with personalized training paths, and expanded incentives for recruiting new customers and selling Pure as-a-Service. Pure Storage aims to empower partners in delivering a seamless modern data experience.

Pure Storage (NYSE: PSTG) announced enhancements to its hybrid cloud solutions within the VMware portfolio, aimed at improving enterprise operations. The partnership, established over a decade, continues to evolve, focusing on key technologies such as vSphere Virtual Volumes and NVMe over Fabric. These advancements enhance data availability and support modern applications across cloud environments. New solutions enable customers to optimize their VMware investments, ensuring better performance and disaster recovery options.

Pure Storage (NYSE: PSTG) announced its largest acquisition to date, acquiring Portworx, a leading Kubernetes data services platform, for $370 million in cash. This strategic move aims to enhance Pure's multi-cloud data services, focusing on containerized applications. With Portworx, Pure will provide robust storage solutions for enterprises, addressing the challenges of data resiliency and security in hybrid cloud architectures. The acquisition aligns with the growing trend of enterprises adopting cloud-native strategies and is expected to bolster Pure's position in the fast-evolving data services market.

Pure Storage (NYSE: PSTG) announced that its FlashBlade® has achieved the AWS Outposts Ready designation, enhancing its hybrid cloud capabilities. This designation validates FlashBlade's integration with AWS Outposts, allowing customers to utilize a unified fast file and object storage platform with native Amazon S3 capabilities. This solution is designed for modern applications requiring real-time processing and high throughput. FlashBlade offers benefits like performance, consolidation, and simplicity, enabling enterprises to manage data effectively across on-premises and cloud environments.

Pure Storage (NYSE: PSTG) announced that Atlantic Health System (AHS) has standardized on its solutions to enhance the performance of critical applications, including the Epic electronic health record system. This transition is expected to save AHS over $1 million in six years, allowing for strategic investments in patient care. AHS has achieved 100% system availability and significantly improved data processing times, reducing nightly ETL from 5.5 hours to just 20 minutes. Additionally, AHS anticipates over $1.3 million in total cost savings with Pure's Evergreen Storage model.

Pure Storage (NYSE: PSTG) has appointed Jason Rose as its new Chief Marketing Officer, effective September 9, 2020. In his role, Rose will focus on enhancing the company’s digital marketing strategies to drive revenue growth in response to the shifting online landscape. He brings extensive experience from his previous roles at SAP and Gigya, where he successfully led marketing initiatives. COO Paul Mountford emphasized the importance of digital savvy marketing during this period of transformation, aligning with Pure’s goal to provide a differentiated customer experience.