Pure Storage Inc. (PSTG): Are Hedge Funds Bullish On This Data Storage Stock Now?

Insider Monkey12-19

We recently compiled a list of the 10 Best Data Storage Stocks To Buy According to Hedge Funds. In this article, we are going to take a look at where Pure Storage Inc. (NYSE:PSTG) stands against the ...

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(PSTG): Are Hedge Funds Bullish On This Data Storage Stock Now?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-12-19 20:42 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/pure-storage-inc-pstg-hedge-124236340.html><strong>Insider Monkey</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>We recently compiled a list of the 10 Best Data Storage Stocks To Buy According to Hedge Funds. In this article, we are going to take a look at where Pure Storage Inc. (NYSE:PSTG) stands against the ...</p>\n\n<a href=\"https://finance.yahoo.com/news/pure-storage-inc-pstg-hedge-124236340.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"PSTG","symbol_name":"Pure Storage Inc","start_time":0,"source_url":"https://finance.yahoo.com/news/pure-storage-inc-pstg-hedge-124236340.html","article_id":"2492122485","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/uUF1AGbbYuZl.LVq5OFWyg--~B/aD04MTY7dz0xNDU2O2FwcGlkPXl0YWNoeW9u/https://media.zenfs.com/en/insidermonkey.com/fe3711238825e09dbd0b36215a10fc88"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2492122485","pubTimestamp":1734612156,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"We recently compiled a list of the 10 Best Data Storage Stocks To Buy According to Hedge Funds.In this article, we are going to take a look at where Pure Storage Inc.  stands against the other data storage stocks.Data storage involves systematically archiving digital information to ensure its availability and security for future use. This encompasses various methods, including direct attached storage, network attached storage, and cloud-based solutions.The rise of GenAI has significantly impacted the data storage landscape, necessitating new architectures to handle the growing volume and complexity of data generated. Innovations such as cloud storage, SSD technology, and emerging solutions like DNA data storage are shaping the future of data management.We sifted through ETFs, online rankings, and internet lists to compile a list of the top data storage stocks. We then selected the 10 stocks that were the most popular among elite hedge funds and that analysts were bullish on. The stocks","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"PSTG":"Pure Storage Inc","BK4588":"碎股","LU2360107168.USD":"BGF NEXT GENERATION TECHNOLOGY \"A4\" (USD) INC","LU0963586101.USD":"ALLIANZ GLOBAL SMALL CAP EQUITY \"AT\" ACC","LU1861215975.USD":"贝莱德新一代科技基金 A2","LU2290526834.HKD":"BGF NEXT GENERATION TECHNOLOGY \"A2\" (HKDHDG) ACC","LU1861220033.SGD":"Blackrock Next Generation Technology A2 SGD-H","BK4170":"电脑硬件、储存设备及电脑周边","BK4585":"ETF&股票定投概念"},"translate_title":"Pure Storage Inc.(PSTG)：对冲基金现在看好这只数据存储股票吗？","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"PSTG":1},"content_text":"We recently compiled a list of the 10 Best Data Storage Stocks To Buy According to Hedge Funds. In this article, we are going to take a look at where Pure Storage Inc. (NYSE:PSTG) stands against the other data storage stocks.\nData storage involves systematically archiving digital information to ensure its availability and security for future use. This encompasses various methods, including direct attached storage, network attached storage, and cloud-based solutions. The rise of GenAI has significantly impacted the data storage landscape, necessitating new architectures to handle the growing volume and complexity of data generated. Innovations such as cloud storage, SSD technology, and emerging solutions like DNA data storage are shaping the future of data management.\nThe next-generation data storage market is projected to grow from $65.1 billion in 2024 to $90 billion by 2029, exhibiting a compound annual growth rate of 6.7%, according to MarketsandMarkets. This is attributed to the increasing demand for energy-efficient and compact storage solutions, the rising adoption of NVMe technology in enterprise systems, and the expanding use of 5G technology. North America held the largest share of the market in 2023, accounting for 43.4%, largely due to heightened demand from sectors such as banking, financial services, insurance (BFSI), and healthcare.\nHigh-speed storage solutions enable organizations to process large datasets quickly, which accelerates model training and enhances analytical effectiveness. Real-time data processing is another critical application of next-generation storage. By integrating AI with advanced storage systems, organizations can perform immediate analysis essential for sectors like finance, where fraud detection and predictive maintenance are paramount. Storage Area Networks (SANs) optimize throughput and minimize latency, making them ideal for mission-critical applications.\nAI-driven technologies can detect anomalies and potential threats in real-time, providing essential protection against cyber threats as data breaches become more common. Next-generation storage systems also support the growing Internet of Things (IoT) by efficiently managing the vast amounts of data generated by connected devices. Many of these systems also integrate seamlessly with cloud services, allowing businesses to leverage scalable storage options while utilizing AI for improved performance.\nAs the market adapts to these opportunities, we are here to help you find the 10 best data storage stocks to buy according to hedge funds.\nMethodology\nWe sifted through ETFs, online rankings, and internet lists to compile a list of the top data storage stocks. We then selected the 10 stocks that were the most popular among elite hedge funds and that analysts were bullish on. The stocks are ranked in ascending order of the number of hedge funds that have stakes in them, as of Q3 2024. The hedge fund data was sourced from Insider Monkey’s database which tracks the moves of over 900 elite money managers.\nWhy are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).\n A closeup of a computer monitor displaying a complex software interface used in data protection services. \nPure Storage Inc. (NYSE:PSTG)\nNumber of Hedge Fund Holders: 31\nPure Storage Inc. (NYSE:PSTG) provides high-performance data storage solutions and specializes in flash-based storage systems, software, and services. It's recognized for its innovative approach to data storage, using flash memory to deliver faster data retrieval speeds compared to traditional hard disk drives (HDDs). This performance advantage is critical for demanding applications such as big data analytics, AI, and high-performance computing.\nThe company recently secured a design win with a top-four hyperscaler, marking the first instance of a hyperscaler adopting flash storage for its standard infrastructure. The hyperscaler market accounts for 60-70% of all hard disk drives purchased globally. By replacing traditional hard drives with Pure Storage Inc.'s (NYSE:PSTG) DirectFlash technology, the hyperscaler can expect reduced power consumption, increased space utilization, and lower maintenance costs. It's also expected to double the expected lifetime of the hyperscaler's storage infrastructure. This breakthrough has left the company anticipating double-digit Exabyte deployments by FY 2027.\nThe company is strategically investing in its hyperscale business, and while this will impact operating margin in FY 2026, it positions Pure Storage Inc. (NYSE:PSTG) for long-term growth and leadership in the evolving hyperscale data storage market.\nOverall PSTG ranks 7th on our list of the best data storage stocks to buy according to hedge funds. While we acknowledge the potential of PSTG as an investment, our conviction lies in the belief that AI stocks hold great promise for delivering high returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than PSTG but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.   \nREAD NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock.   \nDisclosure: None. This article is originally published at Insider Monkey.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2492122485"}