We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Pure Storage (PSTG) Invests in LandingAI to Boost Vision AI
Read MoreHide Full Article
Pure Storage, Inc. (PSTG - Free Report) is making a strategic investment in visual AI tech company, LandingAI. The investment is aimed at boosting the advancement of AI vision models.
Headquartered in Palo Alto, CA, LandingAI was founded by Andrew Ng. It is guided by a data-centric AI approach to aid business organizations with limited data sets to comprehend the business value of AI and transfer AI projects from proof-of-concept to full-scale production.
LandingAI’s key product is LandingLens, a computer vision cloud platform. This product aids users to easily create, repeat and deploy computer vision solutions swiftly.
LandingAI highlighted that business enterprises would need advanced solutions to apply generative AI to their data, which increasingly comprises image and video data alongside text data. Through collaboration with Pure Storage, it expects to address this particular requirement of customers.
Founded in 2009 and headquartered in Mountain View, CA, Pure Storage provides software-defined all-flash solutions that are uniquely fast and cloud-capable for customers. The company’s data storage platform for AI offers its users multi-modal performance for all the AI processes.
Pure Storage’s primary offerings are FlashArray and FlashBlade products, which include FlashArray//C, FlashArray//XL, FlashArray File Services, FlashBlade//S and FlashBlade//E.
The company offers its products and services on a subscription basis through Evergreen//One and Cloud Data Services. Its software offering includes Pure1, Pure Fusion and Portworx.
PSTG recently reported solid first-quarter fiscal 2025 results. Non-GAAP earnings per share (EPS) of 32 cents in the first quarter of fiscal 2025 beat the Zacks Consensus Estimate by 45.5%. The company reported non-GAAP EPS of 8 cents in the prior-year quarter. Total revenues surged 18% from the year-ago quarter to $693.5 million and beat the Zacks Consensus Estimate by 1.8%.
The top-line performance was driven by higher sales to new and existing enterprise customers across the data storage platform. Robust demand for FlashBlade solutions, including FlashBlade//E and subscription-based offerings, acted as a catalyst amid macroeconomic weakness.
Management reiterated guidance for fiscal 2025. PSTG continues to expect fiscal 2025 revenues at $3.1 billion, indicating a rise of 10.5% from the year-earlier levels. The company expects strengthening demand trends to drive performance but remains wary of the volatile macroeconomic conditions.
The non-GAAP operating margin is projected at 17%. Total contract value sales for Evergreen//One & Evergreen//Flex subscription service offerings are expected to be $600 million, implying 50% growth from the year-ago actuals.
Pure Storage currently has a Zacks Rank #3 (Hold).
The Zacks Consensus Estimate for BMI’s 2024 EPS is pegged at $3.89, which moved north 9.9% in the past 60 days. BMI’s earnings beat the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 12.7%. The long-term earnings growth rate is 15.6%. Shares of BMI have risen 25.4% in the past year.
The Zacks Consensus Estimate for Arista Network’s 2024 EPS is pegged at $7.92, which inched up 6.2% in the past 60 days. The company's long-term earnings growth rate is 15.7%. ANET’s earnings beat the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 15.4%. Shares of ANET have risen 91.2% in the past year.
The Zacks Consensus Estimate for NVIDIA’s fiscal 2025 EPS has increased 12% in the past 60 days to $26.84. NVDA earnings beat the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 18.4%. Shares of NVDA have risen 226.8% in the past year
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
Pure Storage (PSTG) Invests in LandingAI to Boost Vision AI
Pure Storage, Inc. (PSTG - Free Report) is making a strategic investment in visual AI tech company, LandingAI. The investment is aimed at boosting the advancement of AI vision models.
Headquartered in Palo Alto, CA, LandingAI was founded by Andrew Ng. It is guided by a data-centric AI approach to aid business organizations with limited data sets to comprehend the business value of AI and transfer AI projects from proof-of-concept to full-scale production.
LandingAI’s key product is LandingLens, a computer vision cloud platform. This product aids users to easily create, repeat and deploy computer vision solutions swiftly.
LandingAI highlighted that business enterprises would need advanced solutions to apply generative AI to their data, which increasingly comprises image and video data alongside text data. Through collaboration with Pure Storage, it expects to address this particular requirement of customers.
Pure Storage, Inc. Price and Consensus
Pure Storage, Inc. price-consensus-chart | Pure Storage, Inc. Quote
Founded in 2009 and headquartered in Mountain View, CA, Pure Storage provides software-defined all-flash solutions that are uniquely fast and cloud-capable for customers. The company’s data storage platform for AI offers its users multi-modal performance for all the AI processes.
Pure Storage’s primary offerings are FlashArray and FlashBlade products, which include FlashArray//C, FlashArray//XL, FlashArray File Services, FlashBlade//S and FlashBlade//E.
The company offers its products and services on a subscription basis through Evergreen//One and Cloud Data Services. Its software offering includes Pure1, Pure Fusion and Portworx.
PSTG recently reported solid first-quarter fiscal 2025 results. Non-GAAP earnings per share (EPS) of 32 cents in the first quarter of fiscal 2025 beat the Zacks Consensus Estimate by 45.5%. The company reported non-GAAP EPS of 8 cents in the prior-year quarter. Total revenues surged 18% from the year-ago quarter to $693.5 million and beat the Zacks Consensus Estimate by 1.8%.
The top-line performance was driven by higher sales to new and existing enterprise customers across the data storage platform. Robust demand for FlashBlade solutions, including FlashBlade//E and subscription-based offerings, acted as a catalyst amid macroeconomic weakness.
Management reiterated guidance for fiscal 2025. PSTG continues to expect fiscal 2025 revenues at $3.1 billion, indicating a rise of 10.5% from the year-earlier levels. The company expects strengthening demand trends to drive performance but remains wary of the volatile macroeconomic conditions.
The non-GAAP operating margin is projected at 17%. Total contract value sales for Evergreen//One & Evergreen//Flex subscription service offerings are expected to be $600 million, implying 50% growth from the year-ago actuals.
Pure Storage currently has a Zacks Rank #3 (Hold).
Stocks to Consider
Some better-ranked stocks worth consideration in the broader technology space are Badger Meter (BMI - Free Report) , Arista Networks (ANET - Free Report) and NVIDIA Corporation (NVDA - Free Report) , sporting a Zacks Rank #1 (Strong Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for BMI’s 2024 EPS is pegged at $3.89, which moved north 9.9% in the past 60 days. BMI’s earnings beat the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 12.7%. The long-term earnings growth rate is 15.6%. Shares of BMI have risen 25.4% in the past year.
The Zacks Consensus Estimate for Arista Network’s 2024 EPS is pegged at $7.92, which inched up 6.2% in the past 60 days. The company's long-term earnings growth rate is 15.7%. ANET’s earnings beat the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 15.4%. Shares of ANET have risen 91.2% in the past year.
The Zacks Consensus Estimate for NVIDIA’s fiscal 2025 EPS has increased 12% in the past 60 days to $26.84. NVDA earnings beat the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 18.4%. Shares of NVDA have risen 226.8% in the past year