Pure Storage: The Case For Owning The Shares

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About: Pure Storage, Inc. (PSTG)
by: Bert Hochfeld
This article is exclusive for subscribers.
Bert Hochfeld
Long/short equity, Growth, event-driven, research analyst
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 growth.

The company accelerated its market share gains from Q1 and has broken into the top 5 external storage vendors, tying IBM according to IDC.

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