Pure Storage PSTG recently partnered with Rubrik, Inc. RBRK to empower enterprises seeking robust and scalable cloud solutions to fortify their cybersecurity posture. By combining Rubrik’s Security Cloud with Pure Storage’s advanced data storage platform, the partnership aims to deliver a reference architecture that ensures uptime, long-term retention and cyber resilience. 

The partnership is applying a “three-layered defense strategy” to provide a comprehensive solution for modern data challenges. The joint solution from Rubrik and Pure Storage provides enterprises with critical cyber resilience capabilities, enabling them to defend against evolving cyber threats, minimize downtime and guarantee quick recovery in case of an attack.

3-Layered Defense for Cyber Resilience by PSTG & RBRK

The first layer in the three-layered architecture is designed to ensure rapid recovery in the event of a cyberattack. Pure Storage’s platform leverages immutable snapshots that serve as a critical defense mechanism. With Auto-on SafeMode governance, these snapshots are kept in a secure, tamper-proof environment and are only accessible to authorized contacts who undergo stringent authentication through Pure Storage Support. The initiative guarantees that recovered data remains safe, while the platform’s unmatched performance and scalability ensure near-zero Recovery Time Objectives, minimizing downtime and ensuring business continuity.

The second layer focuses on protecting data stored on Pure Storage FlashArray through Rubrik’s Security Cloud. Rubrik provides organizations with a secure, immutable backup through its Rubrik Secure Vault, ensuring that backup data remains protected even during a cyberattack. 

Additionally, Rubrik’s advanced data security capabilities — Anomaly Detection, Threat Monitoring and Threat Hunting, Sensitive Data Monitoring, User Intelligence and Orchestrated Recovery — help organizations identify and respond to potential threats before they can cause significant damage.

The final layer focuses on archival storage, ensuring that data remains accessible and recoverable even over extended periods. Pure Storage’s FlashBlade solutions, including FlashBlade//S and FlashBlade//E, provide enterprises with flexible, scalable and cost-effective storage options based on their unique needs.

Need for Cyber Safety to Boost Uptake of PSTG’s Solution

RBRK highlighted a report from Accenture that states that the world is expected to produce 463 exabytes of data daily by 2025. The staggering number reflects both the growing importance of data and the immense complexity organizations face when managing and securing this data. A recent Rubrik Zero Labs report found that 66% of IT and security leaders believe that data growth is outpacing their ability to secure it, underscoring the critical need for a more resilient and scalable approach to data protection.

The need for cyber resiliency amid exponential data growth is likely to drive demand for PSTG-RBRK’s cyber-resilient hyper-cloud offering. 

Mountain View, CA-based Pure Storage provides innovative software-defined all-flash solutions. Its primary offerings are FlashArray and FlashBlade products. The company also offers its products and services on a subscription basis through Evergreen//One and Cloud Data Services. It boasts of a robust customer base - enterprise and commercial organizations, cloud, Global Systems Integrators, consumer web, education, energy, financial services, governments, healthcare, manufacturing, media, retail and telecommunications.

Pure Storage, Inc. Price and Consensus

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

Pure Storage is gaining from continued momentum across its FlashBlade solutions, including FlashArray//E, Flashblade//E, FlashArray//C and subscription-based offerings. In the last reported quarter, the company’s subscription services revenues jumped 25% year over year to $361.2 million. 

However, it has lowered guidance for total contract value or TCV sales for Evergreen//One & Evergreen//Flex subscription service offerings. It now expects TCV sales to be $500 million, implying 25% growth from a year ago. Earlier, the company forecasted TCV sales to be $600 million, implying 50% growth from a year ago. The downward revision is attributed to extended deal closure timing. In the first half of 2024, the company was able to finalize only three Evergreen//One deals compared to multiple deals of large scale being settled in the prior-year period.

PSTG’s Zacks Rank & Stock Price Performance

At present, Pure Storage carries a Zacks Rank #3 (Hold). Shares of the company have gained 43.7% compared with the sub-industry’s growth of 47.2% in the past year.

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Stocks to Consider

Some better-ranked stocks from the broader technology space are Harmonic Inc. HLIT, and Arista Networks, Inc. ANET. HLIT presently sports a Zacks Rank #1, whereas ANET carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Harmonic enables media companies and service providers to deliver ultra-high-quality broadcast and OTT video services to consumers globally. HLIT delivered a trailing four-quarter average earnings surprise of 32.5%.

Arista Networks supplies products to a prestigious set of customers, including Fortune 500 global companies in markets like cloud titans, enterprises, financials and specialty cloud service providers. It delivered a trailing four-quarter average earnings surprise of 15.02%. In the last reported quarter, ANET delivered an earnings surprise of 8.25%.

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