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Pure Storage (PSTG) Expands FlashBlade Array With FlashBlade//S

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Pure Storage (PSTG - Free Report) has unveiled FlashBlade//S solution powered by the company’s all-QLC modular architecture. As a result, the new platform can deliver high levels of performance and capacity optimization without the need for caching solutions.

FlashBlade was originally announced in 2017. It was the first high-performance storage solution for modern data. The new FlashBlade//S takes advantage of nearly unlimited metadata architecture to offer great performance and power efficiency than previous versions.

Adoption of flash storage is increasing rapidly, particularly in enterprises, due to inherent advantages of speed, portability, efficiency and reliability over legacy storage systems. Pure Storage plans to tap this growing need for flash storage and accelerate the pace of innovation by introducing FlashBlade//S.

FlashBlade//S leverages the Evergreen Portfolio of subscription services to provide non-disruptive upgrades so that customers do not have to worry about their storage platform becoming outdated. Pure Storage recently introduced Evergreen//Flex to further expand the Pure’s Evergreen technology.

Evergreen//Flex is a new fleet of Evergreen architecture that provides customers with storage efficiency through asset utilization mode.

FlashBlade//S and Purity//FB 4.0 software will provide customers with a simple and multi-dimensional performance that is required for the consolidation of unstructured data workloads. In April 2022, Pure Storage announced that more than top 10 autonomous vehicle software development companies were using FlashBlade to handle unstructured data challenges.

The general availability of FlashBlade//S products will start by the second quarter of 2023.

Pure Storage also announced the launch of AIRI//S, an AI-Ready Infrastructure powered by NVIDIA. The collaboration between Pure and NVIDIA boosts FlashBlade's expansive set of use cases across AI, machine learning and modern analytics.

The new FlashBlade//S prioritizes sustainability by reducing capacity per watt, bandwidth per watt and capacity per rack-unit. This ultimately helps to reduce the data center footprint.

Given the FlashBlade portfolio’s efficacy in boosting sustainability efforts,  Pure Storage was selected by Meta Platforms to power the latter’s AI Research SuperCluster (RSC). Meta will leverage Pure Storage’s robust and scalable storage capabilities to power RSC as part of this partnership. The trailblazing storage capabilities will be incorporated by capitalizing on Pure Storage’s FlashArray and FlashBlade solutions.

Shares of Pure Storage have gained 44.3% in the past year against the industry’s fall of 9.3%.

Zacks Rank & Stocks to Consider

Pure Storage currently has a Zacks Rank #3 (Hold).

Some better-ranked stocks from the broader technology space are InterDigital (IDCC - Free Report) and Avnet (AVT - Free Report) . InterDigital and Avnet currently sport a Zacks Ranks #1 (Strong Buy).You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for InterDigital’s 2022 earnings is pegged at $3.28 per share, increasing 5.12% in the past 60 days. The long-term earnings growth rate is anticipated to be 15%.

InterDigital’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 141.13%. Shares of IDCC have declined 18.4% in the past year.

The Zacks Consensus Estimate for Avnet’s fiscal 2022 earnings is pegged at $6.83 per share, rising 20.5% in the past 60 days. The long-term earnings growth rate is anticipated to be 37.2%.

Avnet’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 21.22%. Shares of Avnet have grown 11.3% in the past year.