Everpure's (P) Buy Rating Reaffirmed at Needham & Company LLC

Key Points

• Needham & Company reaffirmed its buy rating on Everpure and kept a $100 price target, implying about 16.5% upside from the stock’s current level.
• Everpure recently posted a strong quarter, with EPS of $0.47 versus $0.40 expected and revenue of $1.05 billion topping estimates while rising 35.2% year over year.
• Despite the upbeat results, the stock has drawn mixed signals: some analysts remain cautious, and the company also saw insider selling along with reports that the shares fell after the release on weaker cash flow and guidance concerns.

Everpure (NYSE:P - Get Free Report)'s stock had its "buy" rating reaffirmed by stock analysts at Needham & Company LLC in a note issued to investors on Thursday,Benzinga reports. They currently have a $100.00 price objective on the stock. Needham & Company LLC's target price would indicate a potential upside of 16.47% from the company's current price.

Several other research firms have also recently issued reports on P. Weiss Ratings assumed coverage on shares of Everpure in a research note on Monday, April 20th. They set a "hold (c)" rating on the stock. UBS Group raised their price target on shares of Everpure from $60.00 to $63.00 and gave the stock a "sell" rating in a research note on Thursday, February 26th. Citigroup cut shares of Everpure from a "buy" rating to a "neutral" rating and set a $90.00 price target on the stock. in a research note on Thursday, May 14th. Morgan Stanley raised their price target on shares of Everpure from $84.00 to $87.00 and gave the stock an "equal weight" rating in a research note on Thursday. Finally, Wall Street Zen raised shares of Everpure from a "hold" rating to a "buy" rating in a research note on Saturday, February 21st. Thirteen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $93.58.

Everpure Stock Performance

Shares of NYSE P opened at $85.86 on Thursday. The stock has a market capitalization of $28.37 billion, a P/E ratio of 156.11, a price-to-earnings-growth ratio of 6.50 and a beta of 1.44. Everpure has a 52 week low of $50.20 and a 52 week high of $100.59.

Everpure (NYSE:P - Get Free Report) last issued its quarterly earnings data on Wednesday, May 27th. The company reported $0.47 EPS for the quarter, beating analysts' consensus estimates of $0.40 by $0.07. The firm had revenue of $1.05 billion for the quarter, compared to analysts' expectations of $997.88 million. Everpure had a net margin of 5.14% and a return on equity of 14.36%. The firm's revenue was up 35.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.29 EPS. As a group, equities research analysts expect that Everpure will post 0.72 earnings per share for the current year.

Insider Activity

In related news, insider John Colgrove sold 200,000 shares of the firm's stock in a transaction that occurred 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 sale, the insider directly owned 6,625,221 shares of the company's stock, valued at approximately $569,305,240.53. This trade represents a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 534,265 shares of company stock valued at $41,321,234 over the last 90 days. 5.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Everpure

Several hedge funds have recently modified their holdings of P. Norges Bank acquired a new stake in shares of Everpure in the fourth quarter worth approximately $265,327,000. Arrowstreet Capital Limited Partnership boosted its position 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 during the last quarter. Atreides Management LP acquired a new stake in shares of Everpure in the second quarter worth approximately $204,552,000. Polar Capital Holdings Plc raised its holdings in Everpure by 90.5% in the third quarter. Polar Capital Holdings Plc now owns 2,831,141 shares of the company's stock valued at $237,278,000 after buying an additional 1,345,207 shares during the period. Finally, AQR Capital Management LLC raised its holdings in Everpure by 62.7% in the fourth quarter. AQR Capital Management LLC now owns 3,414,715 shares of the company's stock valued at $228,820,000 after buying an additional 1,315,351 shares during the period. 83.42% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Everpure

Here are the key news stories impacting Everpure this week:

• Positive Sentiment: Everpure reported first-quarter earnings of $0.47 per share, beating estimates, while revenue rose 35.2% year over year to $1.05 billion and also topped expectations. Quarterly earnings report and conference call
• Positive Sentiment: The company raised full-year fiscal 2027 revenue and operating profit guidance, signaling management sees continued demand and pricing strength ahead. First quarter fiscal 2027 financial results
• Neutral Sentiment: Analysts and press reports highlighted record revenue growth and strategic expansion efforts, with supply-chain issues still a backdrop but not derailing results. Earnings call highlights
• Negative Sentiment: Despite the beat, the stock slid after the release because free cash flow dropped and next-quarter revenue guidance came in well below Wall Street’s expectations. Stock slides on free cash flow drop

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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