Everpure (NYSE:PSTG) Upgraded at Northland Securities

Northland Securities upgraded shares of Everpure (NYSE:PSTG) from a market perform rating to an outperform rating in a report published on Monday morning, Marketbeat.com reports. The firm currently has $81.00 price target on the technology company’s stock, up from their previous price target of $77.00.

A number of other analysts also recently issued reports on PSTG. Morgan Stanley set a $83.00 target price on Everpure in a research report on Wednesday, December 3rd. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price target on shares of Everpure in a research report on Wednesday, December 3rd. Susquehanna set a $105.00 price objective on Everpure in a research note on Wednesday, December 3rd. TD Cowen reissued a “buy” rating on shares of Everpure in a research note on Wednesday, December 3rd. Finally, Barclays upped their price target on shares of Everpure from $77.00 to $81.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 26th. Thirteen equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Everpure currently has an average rating of “Moderate Buy” and an average target price of $94.53.

Everpure Trading Up 1.8%

PSTG stock opened at $62.12 on Monday. The stock has a market cap of $20.51 billion, a PE ratio of 112.95, a price-to-earnings-growth ratio of 4.57 and a beta of 1.29. The stock has a 50-day moving average price of $69.46 and a two-hundred day moving average price of $77.86. Everpure has a 1 year low of $34.51 and a 1 year high of $100.59.

Everpure (NYSE:PSTG) last announced its earnings results on Wednesday, February 25th. The technology company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.04. Everpure had a return on equity of 14.36% and a net margin of 5.14%.The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter last year, the firm earned $0.45 EPS. Everpure’s revenue for the quarter was up 20.4% compared to the same quarter last year. On average, analysts forecast that Everpure will post 0.44 earnings per share for the current fiscal year.

Insider Transactions at Everpure

In other news, insider Ajay Singh sold 7,178 shares of the stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of $67.14, for a total transaction of $481,930.92. Following the completion of the sale, the insider owned 215,091 shares of the company’s stock, valued at $14,441,209.74. This represents a 3.23% 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. Insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Everpure

Institutional investors have recently bought and sold shares of the business. Winnow Wealth LLC bought a new position in Everpure during the 3rd quarter worth $26,000. Provenance Wealth Advisors LLC acquired a new position in shares of Everpure during the 3rd quarter worth approximately $27,000. Salomon & Ludwin LLC increased its holdings in shares of Everpure by 108.2% during the fourth quarter. Salomon & Ludwin LLC now owns 383 shares of the technology company’s stock worth $27,000 after purchasing an additional 199 shares during the period. Foster Dykema Cabot & Partners LLC acquired a new stake in shares of Everpure in the third quarter valued at approximately $28,000. Finally, Sunbelt Securities Inc. boosted its stake in shares of Everpure by 287.1% in the third quarter. Sunbelt Securities Inc. now owns 329 shares of the technology company’s stock valued at $28,000 after buying an additional 244 shares during the period. Institutional investors and hedge funds own 83.42% of the company’s stock.

Everpure Company Profile

Everpure, Inc (NYSE: PSTG), formerly known as Pure Storage, Inc, is a technology company that designs and sells data storage hardware and software for enterprise and cloud environments. The company is best known for its all-flash storage arrays engineered to deliver high performance, low latency, and simplified management compared with traditional disk-based systems. Its product portfolio includes purpose-built arrays and software aimed at transactional databases, virtualized infrastructures, analytics, and large-scale file and object workloads.

Key product and software offerings include the FlashArray family for block storage and FlashBlade for file and object workloads, together with Purity, the company’s storage operating environment.