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Pure Storage (PSTG) Expands Collaboration With Microsoft
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Pure Storage (PSTG - Free Report) recently announced that it had expanded its collaboration with Microsoft. This expansion will enable the integration of PSTG’s storage capabilities to Microsoft Azure services (through Azure's new Premium SSD v2) and introduced them to Azure VMware Solution (AVS) in Preview.
Businesses are facing challenges to migrate their VMware environments (which require block-based storage) to cloud mostly due to varying storage layer management and scale-on-demand for compute and storage relative to data growth. The integration of Pure Cloud Block Store with AVS addresses these particular issues, noted PSTG.
PSTG further added that Pure Cloud Block Store for AVS is now in preview in 16 Azure regions globally. The integration will aid clients to lower costs. Businesses can achieve a high data reduction ratio on VMware workloads in Azure by leveraging Pure Storage's compression and “deduplication” technology.
Users can easily migrate their applications to the cloud environment without any trade-offs in capabilities. Pure Storage capabilities on Azure will also allow to scale storage and compute based on requirements of the organization, noted PSTG. Businesses will be able to implement better tracking, management, deployment and execute steady multi-cloud governance for their data by utilziing the same data management platform for both cloud and on-premises environment.
Pure Storage, Inc. Price, Consensus and EPS Surprise
Further, clients will gain access to data protection capabilities in Purity such as near-zero RPO ActiveDR, zero-RPO ActiveCluster, and Purity CloudSnap to maintain high levels of protection at all times and at the right place.
Further, Pure Storage boasts high availability and cloud replication capabilities. These functionalities help in enabling disaster recovery targets on AVS which can be configured with nominal compute and storage.
The collaboration with Microsoft will bode well as cloud adoption is gaining tremendous momentum. According to a Gartner report, worldwide public cloud spending is expected to increase 20.7% to $591.8 billion in 2023 compared with $490.3 billion in 2022.
At present, Pure Storage carries a Zacks Rank #2 (Buy). Shares have gained 26% compared with the sub industry’s growth of 26.1%.
The Zacks Consensus Estimate for Badger Meter’s 2023 earnings has risen 6.3% in the past 60 days to $2.86 per share. BMI’s earnings beat estimates in the last four quarters, the average surprise being 6.7%. Shares of BMI have surged 63.2% in the past year.
The Zacks Consensus Estimate for Salesforce’s fiscal 2024 earnings is pegged at $7.44 per share, unchanged in the past 60 days. The long-term earnings growth rate is anticipated to be 19.3%.
CRM’s earnings surpassed estimates in the last four quarters, the average beat being 15.5%. Shares of CRM have grown 14.9% in the past year.
The Zacks Consensus Estimate for Pegasystems’ 2023 earnings has improved 6.6% in the past 60 days to $1.46 per share. PEGA’s earnings has an average surprise of 166.2% in the trailing four quarters. Shares of PEGA have jumped 27.9% in the past year.
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Pure Storage (PSTG) Expands Collaboration With Microsoft
Pure Storage (PSTG - Free Report) recently announced that it had expanded its collaboration with Microsoft. This expansion will enable the integration of PSTG’s storage capabilities to Microsoft Azure services (through Azure's new Premium SSD v2) and introduced them to Azure VMware Solution (AVS) in Preview.
Businesses are facing challenges to migrate their VMware environments (which require block-based storage) to cloud mostly due to varying storage layer management and scale-on-demand for compute and storage relative to data growth. The integration of Pure Cloud Block Store with AVS addresses these particular issues, noted PSTG.
PSTG further added that Pure Cloud Block Store for AVS is now in preview in 16 Azure regions globally. The integration will aid clients to lower costs. Businesses can achieve a high data reduction ratio on VMware workloads in Azure by leveraging Pure Storage's compression and “deduplication” technology.
Users can easily migrate their applications to the cloud environment without any trade-offs in capabilities. Pure Storage capabilities on Azure will also allow to scale storage and compute based on requirements of the organization, noted PSTG. Businesses will be able to implement better tracking, management, deployment and execute steady multi-cloud governance for their data by utilziing the same data management platform for both cloud and on-premises environment.
Pure Storage, Inc. Price, Consensus and EPS Surprise
Pure Storage, Inc. price-consensus-eps-surprise-chart | Pure Storage, Inc. Quote
Further, clients will gain access to data protection capabilities in Purity such as near-zero RPO ActiveDR, zero-RPO ActiveCluster, and Purity CloudSnap to maintain high levels of protection at all times and at the right place.
Further, Pure Storage boasts high availability and cloud replication capabilities. These functionalities help in enabling disaster recovery targets on AVS which can be configured with nominal compute and storage.
The collaboration with Microsoft will bode well as cloud adoption is gaining tremendous momentum. According to a Gartner report, worldwide public cloud spending is expected to increase 20.7% to $591.8 billion in 2023 compared with $490.3 billion in 2022.
At present, Pure Storage carries a Zacks Rank #2 (Buy). Shares have gained 26% compared with the sub industry’s growth of 26.1%.
Other Stocks to Consider
Some other top-ranked stocks worth consideration in the broader technology space are Badger Meter (BMI - Free Report) , Salesforce (CRM - Free Report) and Pegasystems (PEGA - Free Report) . Each stock currently carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
The Zacks Consensus Estimate for Badger Meter’s 2023 earnings has risen 6.3% in the past 60 days to $2.86 per share. BMI’s earnings beat estimates in the last four quarters, the average surprise being 6.7%. Shares of BMI have surged 63.2% in the past year.
The Zacks Consensus Estimate for Salesforce’s fiscal 2024 earnings is pegged at $7.44 per share, unchanged in the past 60 days. The long-term earnings growth rate is anticipated to be 19.3%.
CRM’s earnings surpassed estimates in the last four quarters, the average beat being 15.5%. Shares of CRM have grown 14.9% in the past year.
The Zacks Consensus Estimate for Pegasystems’ 2023 earnings has improved 6.6% in the past 60 days to $1.46 per share. PEGA’s earnings has an average surprise of 166.2% in the trailing four quarters. Shares of PEGA have jumped 27.9% in the past year.