Pure storage today

(as of 11/25/2024 ET)
- 52-week range
- $31.00
▼
$70.41
- P/E ratio
- 134.38
- Price target
- $67.95
Pure Storage Inc. NYSE: PSTG is a leading enterprise data storage provider specializing in all-flash storage solutions using solid-state drives (SSDs). Their FlashArray is designed for low latency, scalable and reliable storage for applications that require machine learning (ML), real-time analytics, virtual machines and High-performance computing (HPC). The artificial intelligence (AI) boom has fueled the demand for faster storage solutions, which comes with it. Computer and technology field The company’s wheelhouse. The launch of its GenAI Pods could be a game changer for AI deployment and scaling up AI initiatives.
Modernize storage to prepare for AI deployment
Storage modernization is driving the demand for pure storage solutions. Data storage Traditionally highly siled means that data sets are usually stored in different areas for different areas such as databaseing or file storage. To get access to that data for analysis or AI, it needs to be copied into a whole new field ie Data warehouse (structured data) or data lake (unstructured data). Data can get old sitting there.
Enterprises need access to live data where it actually sits, which has driven the demand for a new data architecture. This is where Pure Storage comes into the picture by breaking down data silos to enable access to live data for AI workloads, machine learning and real-time analytics.
How Pure Storage Adapts to Storage Modernization Trends
Typically, data must be copied from one location to a repository (data warehouse or data lake) to be used for various applications, such as analytics. This takes time and energy, creates data duplication and lag along the way, not to mention that data can quickly become outdated. Pure’s FlashArray enables data to be instantly accessible for analysis in real-time without the need to relocate or copy. It also uses data reduction technologies such as deduplication and compression to optimize resources. Its FlashBlade platform is designed for high-performance workloads that require extremely fast parallel live data access. It enables enterprises to manage both data at rest (long-term storage) and in motion, which streaming and real-time data.
Its pure Fusion Storage-as-Code enterprise automates storage provisioning, deployment and scaling of workloads across the fleet. Enterprises are upgrading their storage infrastructure to accommodate application modernization or prepare for AI deployment.
Introducing Pure Storage GenAI Pods: A one-stop solution for GenAI deployment
To be launched in the second half of 2025, Pure Storage GenAI Pods are a full-stack solution that enables entrepreneurs to implement GenAI projects using turnkey designs built on the Pure Storage platform. It is designed to enable companies to quickly work through siled data platforms and complex GenAI pipelines.
Pure Storage MarketRank™ Stock Analysis
- Overall MarketRank™
- 98th percentile
- Analyst rating
- buy medium
- upside/downside
- Up 26.4%
- Low interest rate
- healthy
- The power of dividends
- N/A
- Environmental score
- -1.11
- Sense of news
- 0.89
- Insider trading
- Selling shares
- Prof. Increase in earnings
- 66.67%
Typically, when companies try to deploy advanced AI systems like GenAI in private clouds, they have to manage a complex mix of software, hardware, AI models, and development tools to deploy the system effectively and economically. run on At the same time, companies need a single storage solution that can handle all data storage needs and solve the issue of data silos. This is an expensive and complicated endeavor.
The Pure Storage GenAI Pod simplifies the process by providing a ready-to-use, pre-configured platform designed specifically for AI workloads, enabling businesses to launch AI projects with one click and scale them over time. Enables easy management.
It integrates tools like PortWorks, which automates deployment NVIDIA Co. NASDAQ: NVDA AI software and milvs vector database to scale AI and simplify tasks. Early industrial use cases will include business research, drug discovery, investment analysis and retrieval-augmented generation (RAG). age related Frameworks for Chatbots, Knowledge Management and Semantic Discovery. For the initial set of designs, Pure Storage partnered with NVIDIA, cisco NASDAQ: CSCO, Meta Platforms Inc. NASDAQ: META, Super Microcomputer Inc. NASDAQ: SMCI, Arista Networks Inc. NASDAQ: ANETRed Hat and WWT.
Pure storage hits its stride with the AI boom
It integrates tools like PortWorks, which automates deployment NVIDIA Co. NASDAQ: NVDA AI software and milvs vector database to scale AI and simplify tasks. Early industrial use cases will include business research, drug discovery, investment analysis, and retrieval-augmented generation (RAG). age related Frameworks for Chatbots, Knowledge Management, and Semantic Discovery. For the initial set of designs, Pure Storage partnered with NVIDIA, cisco NASDAQ: CSCO, Meta Platforms Inc. NASDAQ: META, Super Microcomputer Inc. NASDAQ: SMCI, Arista Networks Inc. NYSE: ANETRed Hat and WWT.
Q3 was raised but shares fell 25% on full-year 2025 guidance
Pure Storage also raised its fiscal third quarter revenue guidance to $815 million vs. $810.54 million consensus estimates. It sees a non-GAAP operating margin of 17.2%. However, its full-year 2025 revenue guidance fell short of consensus estimates of $3.10 billion vs. $3.13 billion, while non-GAAP margins are expected to be around 17%. That’s why shares have fallen 25% since the announcement.
PSTG stock forms a weekly descending triangle pattern
A descending triangle is a bearish chart pattern in which a flat-bottomed lower horizontal trendline indicating strong support at the high point alternates with a descending upper trendline indicating lower highs on upswings. A breakdown occurs when the stock falls below the lower trendline support. A breakout can also be initiated if the stock rises through the upper trendline resistance.
PSTG is in a weekly descending triangle after a swing high peak at $70.41 in June 2024. Shares have been making lower highs on each bounce since then, forming a strong downtrend line. A flat-bottom lower trendline formed at $45.15, where a double bottom has formed. The weekly anchored VWAP is at $50.86. The weekly RSI is flat around the 48-band. Fibonacci (Fib) Pullback support levels are at $48.58, $46.20, $41.98, and $37.61.
Average of PSTG Agreed price target is $67.95This represents an increase of 31.53% And it has the highest analyst price target $93.00. It has 14 analysts with a buy rating, seven hold and one sell rating. The stock has 2.74% short interest.
Actionable alternative strategies: Bullish options investors can buy PSTG stock using pullbacks Cash-secured put Fib pullback at support levels.
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