Key Details
Price
$61.42Annual Revenue
$2.83 BAnnual EPS
$0.19Annual ROE
5.55%Beta
2.19Events Calendar
Next earnings date:
Feb 28, 2025Recent quarterly earnings:
Dec 03, 2024Recent annual earnings:
Feb 28, 2024Next ex-dividend date:
N/ARecent ex-dividend date:
N/ANext split:
N/ARecent split:
N/AAnalyst ratings
Recent major analysts updates
Market Data
Dividend
Profitability
Efficiency
Valuation
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Institutional Ownership
Users of Zacks.com have been paying a lot of attention to Pure Storage (PSTG) lately. Therefore, it's important to understand the key information that could influence the future of the stock.
Pure Storage achieved an important success by winning a design deal with a major hyperscaler, indicating a move towards flash storage instead of traditional hard drives. The company's shift to a subscription model is providing steady income. Although there may be some short-term effects on profit margins due to offering more affordable options, Pure Storage's emphasis on customer satisfaction and increasing market share is expected to support long-term growth.
PSTG is experiencing growth due to strong sales, even though the overall economy is weak and companies are being careful with their IT spending.
On Wednesday, shares of Pure Storage (PSTG) jumped over 20% after the company exceeded profit and sales expectations and increased its forecast due to rising subscription revenue.
Pure Storage, Inc. announced its results for the third quarter of fiscal year 2025 and, importantly, secured a design win with one of the leading hyperscale companies, which has improved the market's negative view since the second quarter. This design win, believed to be with Meta Platforms, allows Pure Storage to increase its presence in the hyperscale market, creating more opportunities for growth in 2025. We still consider Pure Storage to be one of our top hardware stock picks.
Pure Storage (PSTG 26.00%) shares are experiencing significant increases in trading on Wednesday. By 10:30 a.m., the company's stock price had risen by 23.9%.
In the third quarter of fiscal year 2025, PSTG saw improvements in performance due to consistent growth in its FlashArray and FlashBlade products, along with a high rate of renewals for Evergreen subscriptions.
Pure Storage's stock jumped 22% before the market opened after they revealed a deal with a leading hyperscaler.
When a company's earnings cause its stock to rise by 20%, it's usually because of the financial figures. However, this wasn't true for Pure Storage on Wednesday.
Nathan Hall, the VP of Pure Storage for the APAC region, discusses the company's partnership with Kioxia in Japan and how it is meeting the demands of the rapidly growing AI market.
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