1235 ET - Pure Storage continued to make progress on its engagement with Meta and other hyperscaler customers in its latest quarter, setting the stage for a key long-term growth driver, J.P. Morgan analysts say in a note. Pure Storage management noted Meta initiated its first volume deployments, resulting in the first revenue contributions from the collaboration, and the company is looking to enable its other hyperscaler customers to replace raw storage with its DirectFlash Modules. The analysts say revenue contributions from such engagements will be minimal this fiscal year, but will be a key component of expectations for further accelerating growth in the future. They raise their price target on the stock to $80 from $70. (kelly.cloonan@wsj.com)

(END) Dow Jones Newswires

August 28, 2025 12:35 ET (16:35 GMT)

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