Welcome to our dedicated page for Pure Storage news (Ticker: PSTG), a resource for investors and traders seeking the latest updates and insights on Pure Storage stock.
Pure Storage, Inc. (NYSE: PSTG) is a pioneering IT company that revolutionizes data storage technology and services, aiding innovators worldwide. Headquartered in Santa Clara, California, Pure Storage provides cutting-edge data solutions designed for SaaS companies, cloud service providers, enterprises, and public sector customers. These solutions enable secure, real-time data delivery for mission-critical production, DevOps, and modern analytics across multi-cloud environments.
As one of the fastest-growing enterprise IT companies, Pure Storage allows customers to rapidly adopt next-generation technologies, including Artificial Intelligence (AI) and Machine Learning (ML), maximizing the value of their data for competitive gain. The company's offerings include a comprehensive range of subscription services, highlighted by Evergreen Storage subscriptions, Pure as-a-Service, Cloud Block Store, and Portworx. These services are enhanced by professional consulting for seamless installation and implementation.
Pure Storage's innovative data platform strategy is transforming the storage industry by unifying fragmented data environments into cohesive, efficient systems. This strategy ensures enterprises are prepared for AI, hybrid cloud, and modern application deployment, all while maintaining Flash reliability and performance at competitive price points.
Financially robust, Pure Storage reported strong growth in its fiscal year 2024, with significant contributions from its unique storage solutions and expanding subscription services. The company anticipates continued double-digit revenue growth in FY25, driven by their differentiated data storage platform and the success of their Evergreen and Portworx offerings.
Pure Storage's commitment to customer satisfaction is evident in their Satmetrix-certified NPS customer satisfaction score, ranking in the top one percent of B2B companies. This high satisfaction rate is a testament to their customer-first philosophy, further reflected in their strategic share repurchase programs and dedicated investor relations initiatives.
Environmental sustainability is a core value for Pure Storage. The company actively designs products and solutions that help customers reduce their carbon and energy footprints, striving to make a significant impact on reducing data center emissions globally.
With accolades such as being named a leader in the 2023 Gartner Magic Quadrant for both Primary Storage and Distributed File Systems & Object Storage, Pure Storage is a recognized leader in the industry. The company's forward-looking strategies and continuous innovation positions them as a key player in the evolving IT landscape, helping businesses navigate and leverage technological advancements effectively.
Pure Storage (NYSE: PSTG) announced that New Mexico State University (NMSU) has revamped its IT infrastructure using Pure Storage's advanced data storage solutions. This transformation allows NMSU to significantly enhance learning experiences for its 25,000+ community members. Key benefits include a 66% reduction in annual storage costs, a 14 to 12-fold reduction in data center footprint, and a dramatic 98% latency reduction, ensuring efficient, reliable performance. These improvements also include enhanced ransomware protection, non-disruptive upgrades, and overall operational efficiency, particularly benefiting remote learning and mission-critical systems.
Pure Storage (NYSE: PSTG) has enabled Ampersand, a leading source of TV inventory and viewership insights, to enhance its hybrid cloud strategy. By using Pure Cloud Block Store (CBS), Ampersand improves data resilience, flexibility, and performance, delivering better insights to advertisers and optimizing TV campaigns. The migration to AWS is simplified, ensuring seamless scalability and significant reductions in maintenance costs, saving Ampersand an estimated USD $1-$2 million. The platform also offers comprehensive disaster recovery and superior data management, enhancing overall operational efficiency.
Pure Storage announced a conference call to discuss its first-quarter financial results for fiscal year 2025. The call will take place on May 29, 2024, following the release of financial results on May 5, 2024. The company will also participate in various investor conferences, including the Bank of America Global Technology Conference and William Blair Growth Stock Conference. Additionally, a product and technology-focused meeting for financial analysts will be held at Pure//Accelerate 2024 on June 20, 2024.
Pure Storage and Red Hat have announced an optimization for Portworx on Red Hat OpenShift to streamline integration and provide enterprises with a more seamless path to modern virtualization. This collaboration allows for the deployment, scaling, and management of modern applications on a single platform, catering to both virtual machines (VMs) and containers. The partnership aims to accelerate time to market, reduce costs, and bring consistency to the entire application development process.
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