Everpure (NYSE:P) Rating Increased to Buy at Bank of America

Everpure (NYSE:P) was upgraded by stock analysts at Bank of America from a “neutral” rating to a “buy” rating in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a $150.00 price target on the stock, up from their previous price target of $90.00. Bank of America‘s target price would suggest a potential upside of 52.76% from the company’s previous close.

A number of other equities analysts have also recently issued reports on P. Oppenheimer reissued an “outperform” rating and issued a $140.00 target price on shares of Everpure in a report on Thursday, August 20th. Wells Fargo & Company increased their price target on Everpure from $97.00 to $135.00 and gave the stock an “overweight” rating in a research report on Thursday. Evercore restated an “outperform” rating and set a $130.00 price objective on shares of Everpure in a research report on Monday. Guggenheim restated a “buy” rating and set a $150.00 price objective on shares of Everpure in a research note on Thursday. Finally, Barclays increased their target price on Everpure from $81.00 to $84.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 28th. Seventeen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $125.30.

Everpure Stock Performance

P traded down $10.71 during trading hours on Thursday, hitting $98.19. 5,234,904 shares of the stock were exchanged, compared to its average volume of 3,312,412. The stock has a 50-day simple moving average of $84.72. Everpure has a 12 month low of $56.78 and a 12 month high of $119.10. The firm has a market capitalization of $32.64 billion, a PE ratio of 149.49, a price-to-earnings-growth ratio of 5.72 and a beta of 1.45.

Everpure (NYSE:P) last issued its earnings results on Wednesday, August 26th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.51. Everpure had a net margin of 5.75% and a return on equity of 15.97%. The company had revenue of $1.19 billion for the quarter. Everpure’s revenue for the quarter was up 37.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Everpure will post 0.93 earnings per share for the current fiscal year.

Insider Buying and Selling at Everpure

In related news, insider Ajay Singh sold 9,787 shares of the company’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $78.12, for a total value of $764,560.44. Following the completion of the sale, the insider owned 340,939 shares of the company’s stock, valued at $26,634,154.68. This represents a 2.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John Colgrove sold 200,000 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $96.98, for a total transaction of $19,396,000.00. Following the completion of the transaction, the insider owned 6,474,080 shares of the company’s stock, valued at $627,856,278.40. This represents a 3.00% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 827,800 shares of company stock valued at $78,153,882. Company insiders own 5.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Sunbelt Securities Inc. raised its holdings in Everpure by 287.1% during the third quarter. Sunbelt Securities Inc. now owns 329 shares of the company’s stock worth $28,000 after purchasing an additional 244 shares in the last quarter. Banque Transatlantique SA bought a new position in Everpure during the 3rd quarter valued at $29,000. Continuum Advisory LLC bought a new position in Everpure during the 2nd quarter valued at $29,000. Cornerstone Planning Group LLC increased its position in shares of Everpure by 2,884.6% during 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 during the period. Finally, Greenline Wealth Management LLC acquired a new position in shares of Everpure during the 4th quarter valued at $32,000. Institutional investors and hedge funds own 83.42% of the company’s stock.

Everpure News Summary

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.