Everpure (NYSE:P) Raised to "Buy" at Bank of America

Key Points

• Bank of America upgraded Everpure to “buy” from “neutral” and raised its price target to $150 from $90, implying 52.76% potential upside from the prior close.
• Everpure reported quarterly earnings of $0.70 per share, well above the $0.19 consensus estimate, while revenue rose 37.7% year over year to $1.19 billion. Management also raised full-year revenue guidance to approximately $5.03 billion-$5.07 billion.
• The stock trades at a demanding valuation, with a P/E ratio above 149, while insiders have sold approximately $78.2 million of shares over the past three months.

Everpure (NYSE:P - Get Free Report) was upgraded by investment analysts at Bank of America from a "neutral" rating to a "buy" rating in a report issued on Thursday,Benzinga reports. The firm currently has a $150.00 price objective on the stock, up from their previous price objective of $90.00. Bank of America's target price would indicate a potential upside of 52.76% from the company's previous close.

Several other research firms have also commented on P. Oppenheimer restated an "outperform" rating and issued a $140.00 price target on shares of Everpure in a report on Thursday, August 20th. Barclays raised their target price on shares of Everpure from $81.00 to $84.00 and gave the company an "equal weight" rating in a research note on Thursday, May 28th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Everpure in a research report on Friday, July 17th. Citigroup reiterated a "buy" rating on shares of Everpure in a report on Thursday. Finally, UBS Group boosted their price objective on Everpure from $70.00 to $80.00 and gave the stock a "sell" rating in a research note on Thursday. Seventeen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $125.30.

Everpure Price Performance

Everpure stock traded down $10.71 during midday trading on Thursday, reaching $98.19. The stock had a trading volume of 5,234,904 shares, compared to its average volume of 3,312,412. The firm has a 50-day moving average price of $84.72. Everpure has a twelve month low of $56.78 and a twelve month high of $119.10. The stock has a market capitalization of $32.64 billion, a PE ratio of 149.49, a PEG ratio of 5.72 and a beta of 1.45.

Everpure (NYSE:P - Get Free Report) last announced its quarterly earnings results on Wednesday, August 26th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.19 by $0.51. The company had revenue of $1.19 billion during the quarter. Everpure had a return on equity of 15.97% and a net margin of 5.75%.The business's revenue was up 37.7% compared to the same quarter last year. Analysts predict that Everpure will post 0.93 EPS for the current year.

Insider Transactions at Everpure

In other news, insider Ajay Singh sold 9,787 shares of the firm's stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $78.12, for a total transaction of $764,560.44. Following the completion of the sale, the insider directly owned 340,939 shares in the company, valued at $26,634,154.68. This trade represents a 2.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Colgrove sold 200,000 shares of Everpure stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $96.98, for a total value of $19,396,000.00. Following the sale, the insider directly owned 6,474,080 shares in the company, valued at approximately $627,856,278.40. The trade was a 3.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 827,800 shares of company stock valued at $78,153,882. 5.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Everpure

Several institutional investors and hedge funds have recently made changes to their positions in the business. Sunbelt Securities Inc. raised its holdings in Everpure by 287.1% in the third quarter. Sunbelt Securities Inc. now owns 329 shares of the company's stock valued at $28,000 after acquiring an additional 244 shares in the last quarter. Banque Transatlantique SA bought a new stake in shares of Everpure in the 3rd quarter worth about $29,000. Continuum Advisory LLC bought a new stake in shares of Everpure in the 2nd quarter worth about $29,000. Cornerstone Planning Group LLC raised its stake in shares of Everpure by 2,884.6% in the 4th quarter. Cornerstone Planning Group LLC now owns 388 shares of the company's stock valued at $29,000 after purchasing an additional 375 shares in the last quarter. Finally, Greenline Wealth Management LLC acquired a new stake in shares of Everpure in the 4th quarter valued at about $32,000. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

Everpure News Roundup

Here are the key news stories impacting Everpure this week:

• Positive Sentiment: Everpure reported fiscal Q2 revenue of $1.19 billion, up 37.7% year over year, while earnings of $0.70 per share exceeded estimates. Product revenue increased 54%, highlighting strong demand for the company’s data-storage solutions. Everpure Announces Second Quarter Fiscal 2027 Financial Results
• Positive Sentiment: Management raised fiscal 2027 revenue guidance to approximately $5.03 billion-$5.07 billion, representing roughly 37%-38% growth, and expects operating income of $940 million-$960 million. Third-quarter revenue guidance of about $1.33 billion was also well above analysts’ expectations. Everpure's Q2 Earnings Call Centers on Sustainable Growth
• Positive Sentiment: The earnings call emphasized enterprise demand, market-share gains, a second top-five hyperscaler design win and accelerating adoption of the Evergreen//One platform. These developments reinforce the company’s exposure to AI-related data-storage growth and recurring software revenue. Everpure Q2 2027 Earnings Call Highlights
• Positive Sentiment: Analysts became more bullish: Morgan Stanley raised its target to $119 with an overweight rating, Wedbush lifted its target to $130, Needham to $140 and Guggenheim reaffirmed a buy rating with a $150 target.
• Neutral Sentiment: Despite the favorable outlook, Everpure trades at a demanding valuation, with a P/E ratio above 150. Investors may require continued large earnings beats to support further gains.
• Negative Sentiment: Management cited higher component costs, which could pressure margins even as revenue accelerates. The combination of elevated expectations and potential cost pressure may be encouraging short-term profit-taking after the stock reached a 52-week high of $119.10.

Everpure Company Profile

Pure Storage, Inc provides data storage technologies, products, and services in the United States and internationally. The company's Purity software is shared across its products and provides enterprise-class data services, such as data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object. Its products portfolio includes FlashArray for block-oriented storage, addressing databases, applications, virtual machines, and other traditional workloads; FlashArray//XL; and FlashArray//C, an all-QLC flash array.

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