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

Everpure (NYSE:P)‘s stock had its “buy” rating reissued by stock analysts at Needham & Company LLC in a report released on Thursday,Benzinga reports. They presently have a $100.00 price target on the stock. Needham & Company LLC’s price target indicates a potential upside of 16.47% from the company’s current price.

Several other research firms have also commented on P. Wall Street Zen upgraded shares of Everpure from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. Barclays set a $84.00 price objective on shares of Everpure in a research note on Thursday. Wedbush reiterated an “outperform” rating and set a $100.00 price objective on shares of Everpure in a research note on Monday, February 23rd. Northland Securities upgraded shares of Everpure from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $77.00 to $81.00 in a research note on Monday, March 9th. Finally, UBS Group lifted their price objective on shares of Everpure from $60.00 to $63.00 and gave the company a “sell” rating in a research note on Thursday, February 26th. Thirteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.58.

Everpure Stock Performance

NYSE P opened at $85.86 on Thursday. Everpure has a one year low of $50.20 and a one year high of $100.59. The company 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 (NYSE:P) last posted its quarterly earnings results on Wednesday, May 27th. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.40 by $0.07. Everpure had a net margin of 5.14% and a return on equity of 14.36%. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $997.88 million. During the same quarter last year, the firm posted $0.29 earnings per share. Everpure’s revenue for the quarter was up 35.2% compared to the same quarter last year. Equities research analysts predict that Everpure will post 0.72 EPS for the current year.

Insider Activity

In other news, insider John Colgrove sold 200,000 shares of Everpure stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $85.93, for a total transaction of $17,186,000.00. Following the sale, the insider owned 6,625,221 shares in the company, valued at $569,305,240.53. This trade represents a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 worth $41,321,234 in the last 90 days. Company insiders own 5.10% of the company’s stock.

Institutional Trading of Everpure

A number of hedge funds and other institutional investors have recently made changes to their positions in P. Integrated Wealth Concepts LLC bought a new stake in shares of Everpure in the first quarter worth $541,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Everpure by 129.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,742 shares of the company’s stock worth $387,000 after buying an additional 4,926 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Everpure by 109.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,137,939 shares of the company’s stock worth $50,377,000 after buying an additional 595,307 shares during the last quarter. Empowered Funds LLC increased its stake in shares of Everpure by 4.2% in the first quarter. Empowered Funds LLC now owns 4,790 shares of the company’s stock worth $212,000 after buying an additional 194 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Everpure by 261.1% in the second quarter. EverSource Wealth Advisors LLC now owns 3,203 shares of the company’s stock worth $184,000 after buying an additional 2,316 shares during the last quarter. Institutional investors own 83.42% of the company’s stock.

More Everpure News

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.