All articles tagged with #pure storage
Analysts recommend Nvidia, Meta Platforms, and Pure Storage as top AI stocks to buy in January 2026, citing strong growth prospects, technological advantages, and significant upside potential, with Nvidia leading at 32% implied upside.
Pure Storage (PSTG) stock surged 30% following news of a deal with Meta Platforms, highlighting a significant positive market reaction to the partnership.
Pure Storage's stock surged to record highs after beating earnings and revenue expectations in Q2, while NetApp's stock wavered despite solid results, reflecting investor confidence in Pure Storage's growth prospects and strategic partnerships, especially with hyperscalers like Meta.
Today is a significant day for tech earnings, with Salesforce and Snowflake set to report results, both optimistic about the impact of artificial intelligence. Okta posted strong financial results and provided upbeat guidance, showing little lingering impact from a security breach. Pure Storage also reported better-than-expected results and an optimistic outlook, emphasizing its readiness for artificial intelligence. Salesforce's upcoming results are highly anticipated, with analysts expecting them to be in line with Street estimates, driven by the company's push into AI and expense control.
Stocks traded mixed as the Dow Jones Industrial Average was on track for its highest close of the year, following the Federal Reserve's preferred inflation gauge matching expectations. Notable movers include Salesforce, Snowflake, Pure Storage, Immunogen, Tesla, Ford, and Snap.
Pure Storage reported revenue growth in its third fiscal quarter, with revenues reaching $762.8 million, up 13% YoY. The company achieved its third profitable quarter in history, driven by strong demand for its portfolio and the success of its storage-as-a-service offering, Evergreen//One. However, high subscription sales growth and a large telco order deliverable in 2025 led to a lower revenue outlook for the next quarter. Pure Storage aims to aggressively penetrate the lower price performance tiers of the disk market with its FlashBlade//E product, targeting the opportunity in enterprise and cloud storage. Despite falling short-term revenue growth, Pure Storage gained 353 new customers in the quarter, bringing its total to nearly 13,000.
Stocks such as Salesforce, Snowflake, and Pure Storage are experiencing significant movement in premarket trading.
Pure Storage has extended its Azure Cloud Block Store (CBS) to support Premium SSD v2 Disk Storage instances, allowing for storage and compute separation to reduce costs. This feature is currently in preview for the Azure VMware Solution (AVS). By leveraging the new Premium SSD v2 instances, Pure Storage is able to offer a more cost-effective storage solution, with potential savings of up to 40% on customers' cloud storage bills. The collaboration between Pure Storage and Microsoft aims to facilitate the migration of on-premises workloads to Azure in a more economical manner.
Dollar General's shares fell nearly 20% after reporting an earnings and revenue miss for Q1 and slashing its full-year outlook. Meanwhile, Chewy's stock surged about 25% after beating earnings and revenue expectations, and Pure Storage's stock soared 21% on better-than-expected quarterly earnings and revenue. Veeva Systems' shares also surged more than 18% after posting better-than-expected earnings and revenue for Q1. However, C3.ai's stock dove 14% as a weaker-than-expected outlook eclipsed stronger-than-expected earnings for the previous quarter. Salesforce shares lost about 4% due to cost concerns and dwindling demand for consulting deals overshadowing better-than-expected results and an improved full-year earnings outlook.