Everpure (NYSE:P) Upgraded by Wall Street Zen to "Strong-Buy" Rating

Key Points

• Wall Street Zen upgraded Everpure from “buy” to “strong-buy,” adding to a generally positive analyst backdrop that includes an average rating of “Moderate Buy” and an average target price of $96.32.
• Everpure reported strong Q1 results, with EPS of $0.47 topping estimates of $0.40 and revenue of $1.05 billion beating expectations while rising 35.2% year over year.
• Despite the earnings beat, the stock faced some caution because of weaker free cash flow and cautious near-term guidance, even as analysts and institutional investors remain broadly supportive.

Everpure (NYSE:P - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research note issued on Saturday.

P has been the topic of a number of other research reports. Weiss Ratings began coverage on Everpure in a research report on Monday, April 20th. They issued a "hold (c)" rating on the stock. Piper Sandler reissued an "overweight" rating on shares of Everpure in a research report on Thursday. Guggenheim boosted their target price on Everpure from $105.00 to $115.00 and gave the company a "buy" rating in a research report on Thursday. Northland Securities set a $90.00 target price on Everpure in a research report on Thursday. Finally, JPMorgan Chase & Co. boosted their target price on Everpure from $80.00 to $92.00 and gave the company an "overweight" rating in a research report on Thursday. Thirteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Everpure presently has an average rating of "Moderate Buy" and an average target price of $96.32.

Everpure Price Performance

Shares of NYSE P opened at $79.31 on Friday. Everpure has a 1 year low of $50.20 and a 1 year high of $100.59. The company has a market cap of $26.21 billion, a PE ratio of 120.17, a PEG ratio of 5.38 and a beta of 1.44.

Everpure (NYSE:P - Get Free Report) last announced its earnings results on Wednesday, May 27th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.40 by $0.07. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $997.88 million. Everpure had a return on equity of 15.97% and a net margin of 5.75%.The firm's quarterly revenue was up 35.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.29 earnings per share. On average, sell-side analysts expect that Everpure will post 0.72 EPS for the current fiscal year.

Insider Activity at Everpure

In other Everpure news, insider John Colgrove sold 200,000 shares of the business's stock in a transaction on Monday, May 11th. The shares were sold at an average price of $85.93, for a total value of $17,186,000.00. Following the completion of the transaction, the insider owned 6,625,221 shares in the company, valued at $569,305,240.53. The trade was a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 534,265 shares of company stock valued at $41,321,234 in the last three months. Insiders own 5.10% of the company's stock.

Hedge Funds Weigh In On Everpure

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Everpure by 1.9% in the third quarter. Vanguard Group Inc. now owns 33,891,025 shares of the company's stock worth $2,840,407,000 after acquiring an additional 623,019 shares in the last quarter. State Street Corp grew its stake in shares of Everpure by 0.8% in the fourth quarter. State Street Corp now owns 10,953,501 shares of the company's stock worth $733,994,000 after acquiring an additional 88,583 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Everpure by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 7,716,158 shares of the company's stock worth $515,972,000 after acquiring an additional 207,317 shares in the last quarter. Atreides Management LP grew its stake in shares of Everpure by 15.4% in the third quarter. Atreides Management LP now owns 4,098,376 shares of the company's stock worth $343,485,000 after acquiring an additional 545,890 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Everpure by 786.9% in the third quarter. Arrowstreet Capital Limited Partnership now owns 4,027,610 shares of the company's stock worth $337,554,000 after acquiring an additional 3,573,493 shares in the last quarter. Institutional investors and hedge funds own 83.42% of the company's stock.

Key Headlines Impacting Everpure

Here are the key news stories impacting Everpure this week:

• Positive Sentiment: Everpure reported Q1 earnings of $0.47 per share, ahead of the $0.40 consensus, with revenue of $1.05 billion also topping estimates and rising 35.2% year over year. Everpure (P) Tops Q1 Earnings and Revenue Estimates
• Positive Sentiment: Management said AI-led storage demand, enterprise wins, and subscription growth helped drive the quarter, reinforcing the growth story for Everpure’s data storage business. Everpure Q1 Earnings Beat on Strong AI-Led Storage Demand, Sales Jump Y/Y
• Positive Sentiment: Several analysts responded favorably after the report, including JPMorgan raising its price target to $92 and Needham reiterating a buy rating with a $100 target, suggesting Wall Street sees continued upside. Analyst rating updates
• Neutral Sentiment: The company’s full-year revenue guidance came in above expectations, but next-quarter revenue guidance disappointed, which helped explain the stock’s volatility after earnings. P Q1 Deep Dive: Supply Chain Dynamics and Pricing Power Shape Results and Guidance
• Negative Sentiment: Investors were also disappointed by weaker free cash flow and cautious near-term guidance, which triggered a sharp post-earnings pullback despite the beat. Everpure beats on revenue and earnings but free cash flow drop sends shares lower

About Everpure

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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