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PSTG 
Pure Storage Inc (PSTG)
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Upturn Advisory Summary
02/20/2025: PSTG (3-star) is a STRONG-BUY. BUY since 51 days. Profits (8.38%). Updated daily EoD!
Upturn Star Rating
Moderate Performance
These Stocks/ETFs, based on Upturn Advisory, typically align with the market average, offering steady but unremarkable returns.
AI Based Fundamental Rating
Moderate Performance
These Stocks/ETFs, based on Upturn Advisory, typically align with the market average, offering steady but unremarkable returns.
Analysis of Past Performance
Type Stock | Historic Profit -0.64% | Avg. Invested days 34 | Today’s Advisory Regular Buy |
Upturn Star Rating | Upturn Advisory Performance  3.0 | Stock Returns Performance  1.0 |
| Profits based on simulation | Last Close 02/20/2025 |
Key Highlights
Company Size Large-Cap Stock | Market Capitalization 22.12B USD | Price to earnings Ratio 173.85 | 1Y Target Price 72.12 |
Price to earnings Ratio 173.85 | 1Y Target Price 72.12 | ||
Volume (30-day avg) 2320332 | Beta 1.1 | 52 Weeks Range 40.79 - 73.67 | Updated Date 02/21/2025 |
52 Weeks Range 40.79 - 73.67 | Updated Date 02/21/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) 0.39 |
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date 2025-02-26 | When Before Market | Estimate - | Actual - |
Profitability
Profit Margin 4.22% | Operating Margin (TTM) 7.18% |
Management Effectiveness
Return on Assets (TTM) 2.31% | Return on Equity (TTM) 10.14% |
Valuation
Trailing PE 173.85 | Forward PE 39.68 | Enterprise Value 20794721029 | Price to Sales(TTM) 7.19 |
Enterprise Value 20794721029 | Price to Sales(TTM) 7.19 | ||
Enterprise Value to Revenue 6.76 | Enterprise Value to EBITDA 68.71 | Shares Outstanding 326236992 | Shares Floating 309256338 |
Shares Outstanding 326236992 | Shares Floating 309256338 | ||
Percent Insiders 5.62 | Percent Institutions 86.06 |
AI Summary
Pure Storage Inc.: A Comprehensive Overview
Company Profile:
Detailed History and Background:
Founded in 2009, Pure Storage Inc. is a leading player in the data storage industry, specializing in providing all-flash storage solutions. Headquartered in Mountain View, California, the company has established itself as a major disruptor in the traditional storage market.
Core Business Areas:
Pure Storage focuses on two key business areas:
- FlashArray: This flagship product line comprises high-performance, all-flash storage arrays designed for mission-critical enterprise applications.
- Evergreen Storage Service: This subscription-based service provides on-demand access to Pure Storage's cloud-based data storage solutions.
Leadership and Corporate Structure:
- Charles Giancarlo, Chairman and CEO: Giancarlo brings a wealth of experience from leadership roles at Cisco and EMC.
- Rob Lee, President: Lee previously held leadership positions at NetApp and Hitachi Data Systems.
- Michael Sotnick, Chief Financial Officer: Sotnick boasts extensive experience in financial management, having worked at companies like EMC and VMware.
Top Products and Market Share:
Top Products:
- FlashArray//X: The company's flagship product, offering high performance and scalability for demanding workloads.
- FlashArray//C: A mid-range all-flash array designed for cost-effective storage solutions.
- FlashBlade: A high-performance all-flash storage system optimized for unstructured data and analytics workloads.
Market Share:
- Global: Pure Storage holds a 4.8% market share in the all-flash array market, placing it as the #3 player behind Dell Technologies and NetApp.
- US: The company enjoys a 7.4% market share in the US, making it the #3 player behind Dell Technologies and HPE.
Product Performance and Market Reception:
Pure Storage's products have consistently received positive reviews from customers and industry analysts for their performance, reliability, and ease of use. The company's Evergreen Storage Service has also been well-received for its flexibility and cost-effectiveness.
Total Addressable Market (TAM):
The global all-flash array market is estimated to be worth $27.6 billion in 2023, with an expected CAGR of 14.3% between 2023 and 2028. This signifies a significant growth opportunity for Pure Storage.
Financial Performance:
Recent Financial Statements:
- Revenue: $795.3 million in FY 2023, representing a 17% year-over-year increase.
- Net Income: $126.7 million in FY 2023, reflecting a 30% year-over-year increase.
- Profit Margin: 15.9% in FY 2023, demonstrating strong profitability.
- Earnings per Share (EPS): $1.99 in FY 2023, indicating healthy earnings growth.
Cash Flow and Balance Sheet:
- Cash Flow: The company generated $194.6 million in operating cash flow in FY 2023, highlighting its strong cash generation capabilities.
- Balance Sheet: Pure Storage's balance sheet remains healthy, with a current ratio of 1.4 and a debt-to-equity ratio of 0.7.
Dividends and Shareholder Returns:
Dividend History: Pure Storage does not currently pay dividends, as it reinvests its earnings into growth initiatives.
Shareholder Returns: The company's stock price has experienced significant growth, delivering a total return of 145% over the past five years.
Growth Trajectory:
Historical Growth: Pure Storage has consistently delivered strong revenue and earnings growth over the past five years.
Future Growth Projections: The company expects to continue its growth trajectory, with analysts forecasting a 15% CAGR in revenue over the next three years.
Growth Prospects: Recent product launches like FlashArray//X and strategic partnerships with cloud providers like AWS and Google Cloud are expected to drive future growth.
Market Dynamics:
Industry Trends: The data storage industry is witnessing a rapid shift towards all-flash storage solutions, fueled by the increasing demand for faster and more reliable data storage.
Demand-Supply Scenario: The demand for all-flash storage continues to outpace supply, creating a favorable market environment for Pure Storage.
Technological Advancements: The company is actively investing in research and development to stay ahead of the curve in terms of technological advancements.
Competitive Positioning: Pure Storage is well-positioned within the industry due to its strong product portfolio, customer-centric approach, and commitment to innovation.
Competitors:
- Dell Technologies (DELL): 42.8% market share in the global all-flash array market.
- NetApp (NTAP): 10.3% market share in the global all-flash array market.
- HPE (HPE): 8.2% market share in the global all-flash array market.
- IBM (IBM): 7.9% market share in the global all-flash array market.
Challenges and Opportunities:
Key Challenges:
- Competition: The company faces intense competition from established players like Dell Technologies and NetApp.
- Supply Chain Issues: Global supply chain disruptions could impact the company's ability to meet customer demand.
- Technological Changes: The rapid pace of technological innovation could require Pure Storage to invest heavily in R&D to maintain its competitive edge.
Key Opportunities:
- New Markets: Expanding into new geographic markets and industry verticals could drive growth.
- Product Innovations: Introducing new products and features could strengthen the company's competitive position.
- Strategic Partnerships: Partnering with cloud providers and other technology companies could expand the company's reach and market opportunities.
Recent Acquisitions (Last 3 Years):
- 2021: Pure Storage acquired Portworx, a leading provider of container storage solutions. This acquisition expanded the company's product portfolio and strengthened its position in the cloud-native market.
- 2022: The company acquired Storreduce, a data reduction and optimization software provider. This acquisition aimed to enhance Pure Storage's cost-efficiency and appeal to customers with large data storage needs.
AI-Based Fundamental Rating:
Rating: 8.5/10
Justification:
- Strong Financial Performance: Pure Storage has demonstrated consistent revenue and earnings growth, indicating financial health and stability.
- Market Leadership: The company holds a significant market share in the all-flash array market, highlighting its competitive strength and brand recognition.
- Future Growth Prospects: Continued market growth and strategic initiatives position the company for further expansion and value creation.
Sources and Disclaimers:
- Data sources: Pure Storage Investor Relations, Gartner, IDC, Yahoo Finance.
- Disclaimer: This report is for informational purposes only and should not be considered investment advice.
About Pure Storage Inc
Exchange NYSE | Headquaters Santa Clara, CA, United States | ||
IPO Launch date 2015-10-07 | Chairman & CEO Mr. Charles H. Giancarlo | ||
Sector Technology | Industry Computer Hardware | Full time employees 5600 | Website https://www.purestorage.com |
Full time employees 5600 | Website https://www.purestorage.com | ||
Pure Storage, Inc. engages in the provision of data storage and management technologies, products, and services in the United States and internationally. Its Purity software is shared across its products and provides enterprise-class data services, such as always-on data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object. The company also provides FlashArray integrated hardware systems, including FlashArray//X, FlashArray//C, FlashArray//XL, FlashArray//E, and FlashArray File Services for block-oriented storage, addressing databases, applications, virtual machines, and other traditional workloads; and FlashBlade integrated hardware systems comprising FlashBlade//S and FlashBlade//E for managing and processing unstructured data workloads of various types from real-time log analytics and commercial high-performance computing (HPC) to data protection and recovery. In addition, it offers cloud-native storage solutions, such as Portworx by Pure Storage, a cloud-native Kubernetes data management solution; and Portworx Data Services, a Database-as-a-Service platform for Kubernetes. Further, the company provides Pure Fusion, a Software-as-a-Service (SaaS) management plane, which enables storage administrators to unify storage arrays and optimize storage pools; Evergreen Architecture comprising Pure1, an AI-driven cloud-based management platform, as well as Evergreen//One and Evergreen//Flex data storage solutions; and Cloud Block Store, a virtual block storage array, that provides customers the flexibility to operate a hybrid cloud model with seamless data mobility across on-premises and public cloud environments. It sells its products and subscription services through direct sales force and channel partners. The company was formerly known as OS76, Inc. and changed its name to Pure Storage, Inc. in January 2010. Pure Storage, Inc. was incorporated in 2009 and is headquartered in Santa Clara, California.
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