- Pure Storage jumped nearly 10% after reporting Q4 results, one of the few tech stocks to rise post-earnings.
- The company achieved accelerating revenue growth while also decimating Wall Street's expectations on the bottom line.
- Pro forma operating margins more than doubled y/y, driven by operating leverage on sales and marketing expenses.
- The company is still citing a $60+ billion TAM versus only ~$2.5 billion in its current annual revenue run rate.
- Valuation still looks modest at ~3x forward revenue.
For further details see:
Pure Storage: Excellent Investment For A Choppy Market