Pure Storage Positioned For AI-Driven Growth: Analyst Sees 12% Revenue Surge Ahead [Yahoo! Finance]
Pure Storage, Inc. Class A (PSTG)
Last pure storage, inc. class a earnings: 2/27 04:02 pm
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Source: Yahoo! Finance
The analyst's bullish stance is due to the company's position as a key beneficiary of the growing demand for unstructured data used in AI applications. Singh says that the data storage market is shifting towards all-flash arrays (AFA), expected to grow at an 8.5% CAGR from 2023 to 2028, reaching $17 billion. Pure Storage is well-positioned to benefit from this trend, leveraging its software advantage in writing data directly to flash memory, adds the analyst. Singh further says that the leadership in storage-as-a-service (STaaS) offerings aligns with the industry's shift toward as-a-service platforms. These factors should drive strong customer growth, increased expansion activity, and continued improvement in operating margins, writes the analyst. Overall, the analyst projects the company's revenue to grow at a 12.2% CAGR from FY24 (ending in January) through FY27, significantly outpacing the total addressable market (TAM) growth. Today, Pure Storage disclosed that it has
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PSTG
News
- Why Pure Storage (PSTG) Outpaced the Stock Market Today [Yahoo! Finance]Yahoo! Finance
- Pure Storage, Inc. (NYSE: PSTG) had its price target lowered by analysts at Citigroup Inc. from $67.00 to $63.00. They now have a "buy" rating on the stock.MarketBeat
- Pure Storage Introduces New GenAI Pod to Accelerate AI Innovation [Yahoo! Finance]Yahoo! Finance
- Pure Storage Introduces New GenAI Pod to Accelerate AI InnovationPR Newswire
- Why Pure Storage (PSTG) Could Beat Earnings Estimates Again [Yahoo! Finance]Yahoo! Finance
PSTG
Earnings
- 8/28/24 - Beat
PSTG
Sec Filings
- 11/21/24 - Form 4
- 11/8/24 - Form SC
- 11/6/24 - Form 4
- PSTG's page on the SEC website