Northland Securities Upgrades Everpure (NYSE:PSTG) to Outperform

Everpure (NYSE:PSTG) was upgraded by equities researchers at Northland Securities from a “market perform” rating to an “outperform” rating in a research note issued to investors on Monday, Marketbeat.com reports. The firm presently has a $81.00 target price on the technology company’s stock, up from their prior target price of $77.00. Northland Securities’ target price indicates a potential upside of 33.07% from the stock’s previous close.

Several other research firms also recently weighed in on PSTG. JPMorgan Chase & Co. decreased their price objective on Everpure from $110.00 to $105.00 and set an “overweight” rating for the company in a report on Wednesday, December 3rd. Barclays raised their target price on shares of Everpure from $77.00 to $81.00 and gave the company an “equal weight” rating in a report on Thursday, February 26th. Wells Fargo & Company cut their price target on Everpure from $100.00 to $90.00 and set an “overweight” rating for the company in a report on Thursday, February 26th. Wedbush reaffirmed an “outperform” rating and issued a $100.00 target price on shares of Everpure in a research note on Monday, February 23rd. Finally, Piper Sandler reiterated a “buy” rating on shares of Everpure in a report on Thursday, February 26th. Thirteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Everpure currently has an average rating of “Moderate Buy” and a consensus target price of $94.53.

Everpure Trading Down 3.2%

Shares of PSTG opened at $60.87 on Monday. Everpure has a 12-month low of $34.51 and a 12-month high of $100.59. The firm has a market cap of $20.10 billion, a P/E ratio of 110.67, a price-to-earnings-growth ratio of 4.71 and a beta of 1.29. The company’s 50-day moving average price is $69.56 and its 200 day moving average price is $77.97.

Everpure (NYSE:PSTG) last released its earnings results on Wednesday, February 25th. The technology company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.04. Everpure had a return on equity of 14.36% and a net margin of 5.14%.The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the company posted $0.45 EPS. Everpure’s revenue was up 20.4% compared to the same quarter last year. Equities research analysts forecast that Everpure will post 0.44 earnings per share for the current year.

Insider Transactions at Everpure

In related news, insider Ajay Singh sold 7,178 shares of Everpure stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $67.14, for a total value of $481,930.92. Following the sale, the insider directly owned 215,091 shares in the company, valued at $14,441,209.74. This trade represents a 3.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Everpure

Hedge funds have recently modified their holdings of the company. Winnow Wealth LLC acquired a new stake in shares of Everpure during the 3rd quarter valued at $26,000. Provenance Wealth Advisors LLC acquired a new position in Everpure in the 3rd quarter worth about $27,000. Salomon & Ludwin LLC increased its holdings in Everpure by 108.2% in the fourth quarter. Salomon & Ludwin LLC now owns 383 shares of the technology company’s stock worth $27,000 after buying an additional 199 shares during the last quarter. Foster Dykema Cabot & Partners LLC acquired a new stake in shares of Everpure in the 3rd quarter valued at $28,000. Finally, Sunbelt Securities Inc. increased its position in Everpure by 287.1% during the third quarter. Sunbelt Securities Inc. now owns 329 shares of the technology company’s stock worth $28,000 after buying an additional 244 shares during the last quarter. 83.42% of the stock is currently owned by institutional investors and hedge funds.

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.