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MarketScreener Homepage  >  Equities  >  Nyse  >  Pure Storage, Inc.    PSTG

PURE STORAGE, INC.

(PSTG)
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Pure Storage : Crater Labs Shoots for the Moon with Pure Storage

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07/15/2020 | 09:01am EDT

Pure provides modern storage to help Crater Labs identify risks in a post-pandemic world

MOUNTAIN VIEW, Calif., July 15, 2020 /PRNewswire/ -- Pure Storage (NYSE: PSTG), the IT pioneer that delivers storage as-a-service in a multi-cloud world, announced today that Crater Labs is using Pure Storage FlashBlade as the backbone for its advanced AI/machine learning systems –  including projects that are helping identify risks in a post-pandemic world. With an ever-expanding list of projects and customers, Crater Labs transitioned to a modern environment using flash storage to support its ongoing innovations.

By replacing its legacy storage infrastructure with Pure, Crater Labs can focus on what it calls "moonshots" – using its world-class research and high-performance computing infrastructure to create lasting competitive advantage for customers through ambitious, ground-breaking projects.

"Pure FlashBlade gives us credibility as we take on transformative AI initiatives for clients," said Khalid Eidoo, Co-Founder and CTO, Crater Labs. "Pure Storage provides the foundational infrastructure to scale alongside our growth. If a customer expects their service to go from 100,000 to 10 million users within a couple of days, we're ready for that, because of Pure."

Using Pure as its backbone, Crater Labs has implemented risk identification models for clients including: detecting an emerging pandemic risk in December 2019; helping organizations identify risk triggers and supply chain effects; and helping healthcare providers and insurers recommend interventions by understanding the technical communication patterns of doctors and clinicians compared to how patients speak about their symptoms and conditions.

"The ability to take moonshots can yield big rewards," said Matt Burr, General Manager, FlashBlade, Pure Storage. "With FlashBlade, Crater Labs and its clients can collaborate strategically on high-performance, large-scale AI projects in a hybrid cloud environment."

Across all projects, FlashBlade helps Crater Labs' researchers achieve their ambitious goals. It allows Crater Labs to easily move data back and forth, accessing its clients' files with very low latency. Faster performance allows the company to run multiple experiments simultaneously, allowing researchers to work unhindered by resource constraints without worrying about losing data -- meaning snapshots can be restored in minutes.

This allows Crater Labs to focus on the creative and strategic side of its business – helping companies think big and make an impact. Clients are now achieving ambitious goals, such as finding a faster way to analyze SEC data (in 3 days instead of 10), calculating delivery routes for thousands of trucks in one-third the time and detecting billing anomalies with up to 93 per cent accuracy for telco and utility companies.

"Crater Labs and Pure are both devoted to providing great customer experiences that drive meaningful results," said Burr. "By adopting Pure, Crater Labs has a modern data experience that can support its customers' digital transformation through its moonshots."

Read the case study to learn more about how Crater Labs is powering its customers' moonshots.

About Pure Storage
Pure Storage (NYSE: PSTG) gives technologists their time back. Pure delivers a modern data experience that empowers organizations to run their operations as a true, automated, storage as-a-service model seamlessly across multiple clouds. One of the fastest-growing enterprise IT companies in history, Pure helps customers put data to use while reducing the complexity and expense of managing the infrastructure behind it. And with a certified customer satisfaction score in the top one percent of B2B companies, Pure's ever-expanding list of customers are among the happiest in the world.

Analyst Recognition:
Pure Storage has been named a Leader in the 2019 Gartner Magic Quadrant for Primary Storage.

Pure Storage, the "P" Logo and FlashBlade are trademarks or registered trademarks of Pure Storage, Inc. All other trademarks or names referenced in this document are the property of their respective owners.

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/crater-labs-shoots-for-the-moon-with-pure-storage-301093877.html

SOURCE Pure Storage


© PRNewswire 2020
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Financials (USD)
Sales 2021 1 722 M - -
Net income 2021 -221 M - -
Net cash 2021 843 M - -
P/E ratio 2021 -21,1x
Yield 2021 -
Capitalization 4 733 M 4 733 M -
EV / Sales 2021 2,26x
EV / Sales 2022 1,89x
Nbr of Employees 3 500
Free-Float 91,8%
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Mean consensus BUY
Number of Analysts 22
Average target price 20,29 $
Last Close Price 17,86 $
Spread / Highest target 45,6%
Spread / Average Target 13,6%
Spread / Lowest Target -16,0%
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Managers
NameTitle
Charles H. Giancarlo Chairman & Chief Executive Officer
Paul Stanley Mountford Chief Operating Officer
Kevan Krysler Chief Financial Officer
John Colgrove Director & Chief Technology Officer
Cathleen Southwick Chief Information Officer
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