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Seagate Technology Holdings plc (STX - Free Report) has unveiled the Lyve Cloud Analytics platform to tap the growing demand for data analytics and AI solutions for business growth.
Multicloud has become a popular cloud strategy for businesses in the modern data sphere, where corporations use an enormous amount of collected data to train their data analytics, AI, and machine learning systems.
Per a report from Future Market Insights, the multi-cloud storage market is estimated to grow $23.7 billion in 2022 and is forecasted to reach $111.3 billion by 2032, registering a CAGR of 16.7% from 2022 to 2032. However, complex data access problems and high costs limit effective data use.
Seagate Technology Holdings PLC Price and Consensus
Seagate’s new platform provides a cloud-based analytics solution that combines storage, computing, and analytics to assist Lyve Cloud customers in minimizing their total cost of ownership (TCO) and significantly reducing the time taken for DataOps and MLOps (machine learning operations) projects.
Seagate provides pre-configured full-stack analytics code solutions in collaboration with other leading data analytics providers for time series, tabular data management and image analytics, along with complimentary professional services that can significantly shorten the time it takes to implement analytics in a production environment from 12 to 18 months to less than four months, per company report.
Seagate plans to leverage the new platform to assist organizations in manufacturing, semiconductor, healthcare and retail industry to activate their stored data in an open data lake architecture for petabyte-scale analytics leading to improved time to implementation and innovation. This, resulting in approximately 40% cost savings compared to other products in the market, added the company.
Lyve Cloud is Seagate’s storage-as-a-service platform (only S3-compatible). The platform is intended to help business organizations manage exponential unstructured data growth across multi-cloud environments and eliminates costs such as egress and API fees and vendor lock-ins.
In September 2022, the company announced that its Lyve cloud services will now be offered by Climb Channel Solutions to its channel community.
Climb Channel stated that the addition of Lyve Cloud would benefit its channel partners. Lyve cloud will offer them seamless cloud storage multi-cloud environment while providing a highly competitive total cost of ownership.
Prior to that, Seagate announced its expansion strategy for its Lyve Cloud, including three new Lyve Cloud regions in the United States (Dallas, Oklahoma City and Washington DC) as well as the new regions in Germany, India, Japan and the United Kingdom.
These new regions will be complementary to the company’s Singapore Lyve region and the existing regions in the United States, taking the total to 10 regions with 16 availability zones.
Seagate currently carries a Zacks Rank #5 (Strong Sell). Shares have lost 34.7% compared with the industry’s decline of 64.9% in the past year.
The Zacks Consensus Estimate for Synopsys 2022 earnings is pegged at $8.85 per share, up 4.5% in the past 60 days. The long-term earnings growth rate is anticipated to be 16.2%.
Synopsys earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 3%. Shares of SNPS have decreased 6.4% in the past year.
The Zacks Consensus Estimate for PSTG 2022 earnings is pegged at $1.18 per share, rising 24.2% in the past 60 days. The long-term earnings growth rate is anticipated to be 35.5%.
Pure Storage’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 171.8%. Shares of PSTG have increased 6% in the past year.
The Zacks Consensus Estimate for Aspen Technology’s fiscal 2023 earnings is pegged at $6.77 per share, increasing 0.5% in the past 60 days. The long-term earnings growth rate is anticipated to be 18.2%.
Aspen Technology’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 6.2%. Shares of AZPN have increased 48.9% in the past year.
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Seagate Technology (STX) Launches Lyve Cloud Analytics Platform
Seagate Technology Holdings plc (STX - Free Report) has unveiled the Lyve Cloud Analytics platform to tap the growing demand for data analytics and AI solutions for business growth.
Multicloud has become a popular cloud strategy for businesses in the modern data sphere, where corporations use an enormous amount of collected data to train their data analytics, AI, and machine learning systems.
Per a report from Future Market Insights, the multi-cloud storage market is estimated to grow $23.7 billion in 2022 and is forecasted to reach $111.3 billion by 2032, registering a CAGR of 16.7% from 2022 to 2032. However, complex data access problems and high costs limit effective data use.
Seagate Technology Holdings PLC Price and Consensus
Seagate Technology Holdings PLC price-consensus-chart | Seagate Technology Holdings PLC Quote
Seagate’s new platform provides a cloud-based analytics solution that combines storage, computing, and analytics to assist Lyve Cloud customers in minimizing their total cost of ownership (TCO) and significantly reducing the time taken for DataOps and MLOps (machine learning operations) projects.
Seagate provides pre-configured full-stack analytics code solutions in collaboration with other leading data analytics providers for time series, tabular data management and image analytics, along with complimentary professional services that can significantly shorten the time it takes to implement analytics in a production environment from 12 to 18 months to less than four months, per company report.
Seagate plans to leverage the new platform to assist organizations in manufacturing, semiconductor, healthcare and retail industry to activate their stored data in an open data lake architecture for petabyte-scale analytics leading to improved time to implementation and innovation. This, resulting in approximately 40% cost savings compared to other products in the market, added the company.
Lyve Cloud is Seagate’s storage-as-a-service platform (only S3-compatible). The platform is intended to help business organizations manage exponential unstructured data growth across multi-cloud environments and eliminates costs such as egress and API fees and vendor lock-ins.
In September 2022, the company announced that its Lyve cloud services will now be offered by Climb Channel Solutions to its channel community.
Climb Channel stated that the addition of Lyve Cloud would benefit its channel partners. Lyve cloud will offer them seamless cloud storage multi-cloud environment while providing a highly competitive total cost of ownership.
Prior to that, Seagate announced its expansion strategy for its Lyve Cloud, including three new Lyve Cloud regions in the United States (Dallas, Oklahoma City and Washington DC) as well as the new regions in Germany, India, Japan and the United Kingdom.
These new regions will be complementary to the company’s Singapore Lyve region and the existing regions in the United States, taking the total to 10 regions with 16 availability zones.
Seagate currently carries a Zacks Rank #5 (Strong Sell). Shares have lost 34.7% compared with the industry’s decline of 64.9% in the past year.
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks from the broader technology space are Synopsys (SNPS - Free Report) , Pure Storage (PSTG - Free Report) and Aspen Technology (AZPN - Free Report) . Pure Storage currently sports a Zacks Rank #1 (Strong Buy), whereas Synopsys and Aspen Technology presently carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks.
The Zacks Consensus Estimate for Synopsys 2022 earnings is pegged at $8.85 per share, up 4.5% in the past 60 days. The long-term earnings growth rate is anticipated to be 16.2%.
Synopsys earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 3%. Shares of SNPS have decreased 6.4% in the past year.
The Zacks Consensus Estimate for PSTG 2022 earnings is pegged at $1.18 per share, rising 24.2% in the past 60 days. The long-term earnings growth rate is anticipated to be 35.5%.
Pure Storage’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 171.8%. Shares of PSTG have increased 6% in the past year.
The Zacks Consensus Estimate for Aspen Technology’s fiscal 2023 earnings is pegged at $6.77 per share, increasing 0.5% in the past 60 days. The long-term earnings growth rate is anticipated to be 18.2%.
Aspen Technology’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 6.2%. Shares of AZPN have increased 48.9% in the past year.