PSTG

Summary Pure Storage shares have been eviscerated or worse long before the advent of the upside down economics of the COVID-19 era. They have not seen a material bounce back since the March lows. The company has both outgrown its peers and has a dramatically greater gross margin than its competitors. The company has converted…

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August 26, 2019 Summary Pure achieved strong operating results in its fiscal Q2. The company guided down revenue growth, primarily because of commodity cost declines and in the interest of prudence. The company did not guide down EPS. Bookings growth, not a metric used by the company, showed growth of 33% and accelerated from Q1…

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Apr. 10, 2018 Summary Pure recently sold a substantial issue of convertible debt. The interest rate was 0.125% with a premium of more than 32% at the time the debt was sold. Pure’s valuation continues to languish at levels suggesting a murky future for this high-growth company. All indications continue to suggest that guidance will prove…

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Apr. 10, 2018 Summary Pure recently sold a substantial issue of convertible debt. The interest rate was 0.125% with a premium of more than 32% at the time the debt was sold. Pure’s valuation continues to languish at levels suggesting a murky future for this high-growth company. All indications continue to suggest that guidance will…

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Jan. 4, 2018 Summary Pure shares have compressed noticeably since it reported earnings at the end of November. The results reported were another beat and the company raised guidance for this current quarter. The consensus growth projection for fiscal 2019 that starts on 2/1 is quite modest and very likely substantially less than the company…

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Jul. 11, 2017 Summary The small universe of publicly traded enterprise storage companies has shown poor relative share price performance this year. That trend was highlighted last week in the wake of a misbegotten IPO from a wannabe enterprise storage vendor which allegedly was an analog to the prospects of its competitors. More far-fetched still…

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Mar. 21, 2017 Summary Pure reported the results of its fiscal year earlier this month. Operating results were ahead of expectations. The company’s guidance, particularly for Q1, but perhaps for the year as a whole was quite disappointing to many investors. Some of the issue is one of enhanced seasonality. The other issue is simply…

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Dec. 2, 2016 Summary Pure Storage announced the results of its fiscal Q3 Wednesday afternoon. Results were a significant beat on both revenues and earnings. Expense management was a visible component of the beat. The company forecasted moderate but not hyper revenue seasonality in the coming quarter. The company is beginning its rollout of NVMe,…

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September 20, 2016 Summary Pure Storage and Nimble Storage are essentially the last two independent players who compete in the high-growth flash storage market. Neither company has yet been profitable and neither has generated positive cash flow consistently. Flash is in the process of ending the days of the spinning disc and its market share…

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