Should You be Confident in the Growth Trajectory of Pure Storage (PSTG)?

2 months ago 12

Soumya Eswaran

Thu, Apr 3, 2025, 5:55 AM 3 min read

Artisan Partners, an concern absorption company, released its “Artisan Global Discovery Fund” 4th fourth 2024 capitalist letter. A transcript of the missive tin beryllium downloaded here. In the 4th quarter, the fund’s Investor Class APFDX returned 2.65%, Advisor Class APDDX posted a instrumentality of 2.69% and Institutional Class APHDX returned 2.76%, compared to a -0.99% instrumentality for the MSCI All Country World Index. US stocks ended a beardown twelvemonth with beardown gains successful Q4. The portfolio outperformed the scale successful some Q4 and 2024. Strong banal enactment drove the portfolio’s show successful Q4. In addition, delight cheque the fund’s apical 5 holdings to cognize its champion picks successful 2024.

In its 4th fourth 2024 capitalist letter, Artisan Global Discovery Fund emphasized stocks specified arsenic Pure Storage, Inc. (NYSE:PSTG). Pure Storage, Inc. (NYSE:PSTG) offers information retention and absorption technologies, products, and services. The one-month instrumentality Pure Storage, Inc. (NYSE:PSTG) was -5.95%, and its shares mislaid 12.55% of their worth implicit the past 52 weeks. On April 2, 2025, Pure Storage, Inc. (NYSE:PSTG) banal closed astatine $46.01 per stock with a marketplace capitalization of $15 billion.

Artisan Global Discovery Fund stated the pursuing regarding Pure Storage, Inc. (NYSE:PSTG) successful its Q4 2024 capitalist letter:

"During the quarter, we initiated 10 caller GardenSM positions, including Pure Storage, Inc. (NYSE:PSTG) and The SageGroup. Pure Storage is redefining endeavor information retention by bypassing accepted approaches utilized by competitors. Instead of purchasing costly enterprise-grade solid-state drives (SSDs) and layering bundle connected top, Pure Storage sources earthy NAND flash representation and designs customized all-flash retention systems, providing a outgo advantage. The institution has been gaining stock of the halfway endeavor information retention marketplace owed to this offering, but we judge its caller announcement of securing a ample hyperscaler information halfway declaration perchance opens the institution up to a overmuch larger addressable marketplace and gives america assurance that the institution tin accelerate its maturation trajectory implicit the adjacent 2 to 3 years."

Is Pure Storage Inc. (PSTG) the Best Data Storage Stock to Invest successful According to Analysts?

A closeup of a machine show displaying a analyzable bundle interface utilized successful information extortion services.

Pure Storage, Inc. (NYSE:PSTG) is not connected our database of 30 Most Popular Stocks Among Hedge Funds. As per our database, 30 hedge money portfolios held Pure Storage, Inc. (NYSE:PSTG) astatine the extremity of the 4th fourth which was 31 successful the erstwhile quarter. While we admit the imaginable of Pure Storage, Inc. (NYSE:PSTG) arsenic an investment, our condemnation lies successful the content that AI stocks clasp greater committedness for delivering higher returns, and doing truthful wrong a shorter timeframe. If you are looking for an AI banal that is arsenic promising arsenic NVIDIA but that trades astatine little than 5 times its earnings, cheque retired our study astir the cheapest AI stock.