Pure Storage Beats on Earnings and Revenue
May 24, 2017: Pure Storage reports Q1 EPS of -$0.14 versus the -$0.22 estimate. Revenue also beat coming in at $182.6 million versus the $177.53 million estimate.
Pure Storage CEO Scott Dietzen said, “Pure Storage has built the data platform for the cloud era. We are pursuing one of the biggest available markets in tech in supporting new data-driven applications including AI, the rapid adoption of cloud computing and the revamping of the enterprise data center. With our best year of innovation yet, we could not be more excited about the road ahead.”
April 30, 2017: Pure Storage is a turnaround play on rising money flow after Susquehanna raised Pure Storage to Net Positive from Net Neutral and set a price target of $15. Susquehanna raised Pure Storage on valuation.
Institutional traders have increased their positions in Pure Storage by 3.8% over the last 3 months.
Below is the Twiggs Money Flow on Pure Storage and you can see the positive divergence that often leads to a big move higher:
Pure Storage makes software-driven storage technology. Pure Storage FlashArray//m is simpler, faster and more elegant than any other technology in the data center. FlashArray//m is ideal for the move toward big data and for performance-intensive workloads such as cloud computing, database systems, desktop virtualization, real-time analytics and server virtualization. With Pure’s industry leading Satmetrix-certified NPS score of 79, Pure customers are some of the happiest in the world, and include large and mid-size organizations across a range of industries: cloud-based software and service providers, consumer web, education, energy, financial services, governments, healthcare, manufacturing, media, retail and telecommunications.
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