AI play Pure Storage soars 23% after touting it won a contract with an unnamed big tech company [CNBC]
Pure Storage, Inc. Class A (PSTG)
Last pure storage, inc. class a earnings: 2/27 04:02 pm
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investor.purestorage.com
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Source: CNBC
The shares were last up 23% in premarket trading. The data storage management company topped Wall Street's estimates and offered up strong fourth-quarter guidance. Pure Storage also upped its previously forecasted full-year outlook. “We're very pleased,” CEO Charles Giancarlo told CNBC's “ Closing Bell: Overtime ” on Tuesday. “This is the first time ever where a hyperscaler, for their standard customer-facing storage, is going to be using a system vendor ... and what we're providing them is a very cost effective, high performance solution that can replace 90% of their storage.” Pure Storage refrained from sharing the name of the contracted hyperscaler company, but Wall Street analysts regarded news as a big win contributing to the post-earnings pop. A hyperscaler refers to the major cloud computing companies with massive data center that can rapidly size up to meet shifting storage and demands. Some of the key players with major cloud units include Amazon Microsoft Alphabet and
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PSTG
News
- RBRK Surges 101% in 3 Months: Is it Too Late to Invest in the Stock? [Yahoo! Finance]Yahoo! Finance
- Pure Storage Inc. (PSTG): Are Hedge Funds Bullish On This Data Storage Stock Now? [Yahoo! Finance]Yahoo! Finance
- Pure Storage, Inc. (NYSE: PSTG) had its price target raised by analysts at Morgan Stanley from $62.00 to $72.00. They now have an "equal weight" rating on the stock.MarketBeat
- Flash Forward: Investing In Pure Storage After Its Strategic Hyperscaler Breakthrough [Seeking Alpha]Seeking Alpha
- Pure Storage Jumps 70% YTD: Should the Stock Be in Your Portfolio? [Yahoo! Finance]Yahoo! Finance
PSTG
Earnings
- 12/3/24 - Beat
PSTG
Sec Filings
- 12/16/24 - Form 4
- 12/12/24 - Form 144
- 12/12/24 - Form 10-Q
- PSTG's page on the SEC website