Advertisement
Canada markets open in 3 hours 32 minutes
  • S&P/TSX

    22,107.08
    +194.56 (+0.89%)
     
  • S&P 500

    5,248.49
    +44.91 (+0.86%)
     
  • DOW

    39,760.08
    +477.75 (+1.22%)
     
  • CAD/USD

    0.7349
    -0.0024 (-0.32%)
     
  • CRUDE OIL

    81.86
    +0.51 (+0.63%)
     
  • Bitcoin CAD

    96,063.59
    +691.63 (+0.73%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • GOLD FUTURES

    2,218.00
    +5.30 (+0.24%)
     
  • RUSSELL 2000

    2,114.35
    +44.19 (+2.13%)
     
  • 10-Yr Bond

    4.1960
    0.0000 (0.00%)
     
  • NASDAQ futures

    18,469.75
    -34.00 (-0.18%)
     
  • VOLATILITY

    13.01
    +0.23 (+1.80%)
     
  • FTSE

    7,971.13
    +39.15 (+0.49%)
     
  • NIKKEI 225

    40,168.07
    -594.66 (-1.46%)
     
  • CAD/EUR

    0.6815
    +0.0010 (+0.15%)
     

Pure Storage's (PSTG) FlashBlade Augments ARGF Efficiency

Pure Storage PSTG has announced that the Australian Genome Research Facility ("AGRF") is leveraging its unified fast file and object storage solution, FlashBlade, to improve data performance and minimize genomic pipeline turnaround times for customers.

AGRF partners with other genomics developers to provide integrated capabilities across biomedical, clinical, agricultural and environmental sectors, catering to approximately 15,000 customers.

It generates more than 10 terabytes of raw data each week, per a company report. However, managing these large datasets and delivering cost-effective sequencing services require scalable, reliable and high-performance storage infrastructure. This is where Pure Strorage comes into play with its innovative storage solutions.

Pure Storage, Inc. Price and Consensus

Pure Storage, Inc. Price and Consensus
Pure Storage, Inc. Price and Consensus

Pure Storage, Inc. price-consensus-chart | Pure Storage, Inc. Quote

ADVERTISEMENT

AGRF has replaced its existing scale-out file system technology with Pure Storage's FlashBlade to improve metadata performance and storage capacity and optimize its end-to-end sequencing pipeline.

The migration has helped it to obtain increased I/O and bandwidth at lower latency, enabling it to quickly complete compute jobs and enhance compute capability without compromising capacity.

FlashBlade’s support has enabled AGRF to reduce its clinical genome sequencing times by up to 86%, from 28 days to four days in urgent cases, per a company report. Also, AGRF has improved the performance of its key initial analysis workflow phase by six times, reducing the time taken from 18 hours to three hours. Another subsequent phase of the workflow has been improved by 26 times, reducing the time taken from 10 hours to 23 minutes, per the company sources.

Pure Storage provides software-defined all-flash solutions that are uniquely fast and cloud-capable for customers. The company is likely to benefit from the growing demand of its FlashArray and FlashBlade businesses and is well poised for strong growth prospects in the data-driven market of machine learning.

The company continues to invest heavily in research and development initiatives to launch new products and enhance its existing product line. In March, the company rolled out FlashBlade//E, an unstructured data repository solution for large-capacity data stores. Pure Storage noted that FlashBlade//E will consume up to five times less power compared with disk-based systems, thereby helping organizations to achieve their sustainability goals.

Pure Storage currently has a Zacks Rank #3 (Hold). Shares of the company have lost 27.3% in the past year compared with the sub-industry’s decline of 22.6%.

Zacks Investment Research
Zacks Investment Research


Image Source: Zacks Investment Research

Stocks to Consider

Some better-ranked stocks in the broader technology space are Arista Networks ANET, Perion Network PERI and Pegasystems PEGA, each presently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Arista Networks 2023 earnings is pegged at $5.79 per share, rising 11.5% in the past 60 days. The long-term earnings growth rate is anticipated to be 14.2%.

Arista Networks’ earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 14.2%. Shares of ANET have increased 24.4% in the past year.

The Zacks Consensus Estimate for Perion’s 2023 earnings is pegged at $2.69 per share, rising 16% in the past 60 days. The long-term earnings growth rate is anticipated to be 25%.

Perion’s earnings beat the Zacks Consensus Estimate in all the last four quarters, the average being 31.7%. Shares of PERI have increased 62.2% in the past year.

The Zacks Consensus Estimate for Pegasystems 2023 earnings is pegged at $1.35 per share, rising 101.5% in the past 60 days.

Pegasystems earnings beat the Zacks Consensus Estimate in two of the trailing four quarters, the average surprise being 11.2%. Shares of the company have declined 41.4% in the past year.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Perion Network Ltd (PERI) : Free Stock Analysis Report

Pegasystems Inc. (PEGA) : Free Stock Analysis Report

Arista Networks, Inc. (ANET) : Free Stock Analysis Report

Pure Storage, Inc. (PSTG) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research