PORTFOLIO

1 Stock to Store in Your Portfolio Right Now

IT pioneer Pure Storage (PSTG) delivered solid financial results in the second quarter of fiscal 2023, driven by an expanding portfolio of its industry-leading products and services. Moreover, analysts are...

By

September 8, 2022

This story originally appeared on Stock News

IT pioneer Pure Storage (PSTG) delivered solid financial results in the second quarter of fiscal 2023, driven by an expanding portfolio of its industry-leading products and services. Moreover, analysts are bullish about the company’s near-term prospects. Given its diversified business, robust financials, high profitability, and solid growth prospects, it could be wise to add PSTG to your portfolio. Read on….

With an $8.65 billion market cap, Pure Storage, Inc. (PST) provides the most-advanced data storage technologies, products, and related services in the United States and internationally. The company’s Purity software offers enterprise-class data services and is shared across its products.

Psst products portfolio includes Flash Array for block-oriented storage, addressing databases, virtual machines, and other traditional workloads; Flash Blade for unstructured data workloads of various types; Flash Recover, an all-flash modern data-protection solution; and AIR, a full-stack AI-ready infrastructure.

The IT pioneer delivered continued growth and increasingly gained market share, driven by an expanding portfolio of industry-leading offerings recognized and embraced by various enterprises and consumers around the globe. In addition to substantial progress on its new products and services, the company delivered strong revenue growth and profitability in the second quarter.

In June, PST introduced the Flash Blade®//S family of products with a new modular architecture built on uniquely co-designed hardware and software to address unstructured data demands and modern application growth. The new platform leverages a nearly limited scalable metadata architecture and offers more than double density, performance, and power efficiency.

Also, in the same month, PST advanced a portfolio of Evergreen offerings, including the new fleet-level Evergreen//Flex, extending leadership in Storage-as-a-Service (Sta As). Evergreen//Flex enables unrivaled storage efficiency and grows the company’s portfolio of Evergreen-based subscription services.