Everpure (NYSE:P) Upgraded by Wall Street Zen to “Strong-Buy” Rating

Everpure (NYSE:P) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report released on Saturday.

P has been the subject of several other reports. JPMorgan Chase & Co. lifted their price objective on shares of Everpure from $80.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price objective on shares of Everpure in a research report on Thursday. Barclays lifted their price objective on shares of Everpure from $81.00 to $84.00 and gave the stock an “equal weight” rating in a research report on Thursday. Wells Fargo & Company lifted their price objective on shares of Everpure from $90.00 to $97.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, UBS Group boosted their price target on shares of Everpure from $63.00 to $70.00 and gave the company a “sell” rating in a research report on Thursday. Thirteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $96.32.

Everpure Price Performance

Everpure stock opened at $79.31 on Friday. The firm has a market cap of $26.21 billion, a PE ratio of 120.17, a PEG ratio of 5.38 and a beta of 1.44. Everpure has a 12-month low of $50.20 and a 12-month high of $100.59.

Everpure (NYSE:P) last released its quarterly earnings data on Wednesday, May 27th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.07. The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $997.88 million. Everpure had a net margin of 5.75% and a return on equity of 15.97%. The company’s revenue for the quarter was up 35.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.29 EPS. As a group, sell-side analysts forecast that Everpure will post 0.72 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider John Colgrove sold 200,000 shares of the business’s stock in a transaction 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 completion of the sale, the insider directly owned 6,625,221 shares of the company’s stock, valued at $569,305,240.53. The trade was a 2.93% 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. 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 three months. 5.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Everpure

A number of institutional investors and hedge funds have recently bought and sold shares of P. Integrated Wealth Concepts LLC purchased a new stake in shares of Everpure in the first quarter valued at about $541,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings 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 valued at $387,000 after buying an additional 4,926 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings 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 valued at $50,377,000 after buying an additional 595,307 shares during the last quarter. Empowered Funds LLC raised its holdings in shares of Everpure by 4.2% in the first quarter. Empowered Funds LLC now owns 4,790 shares of the company’s stock valued at $212,000 after buying an additional 194 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings 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 valued at $184,000 after buying an additional 2,316 shares during the last quarter. 83.42% of the stock is owned by hedge funds and other institutional investors.

More Everpure News

Here are the key news stories impacting Everpure this week:

• Positive Sentiment: Everpure reported Q1 earnings of $0.47 per share, ahead of the $0.40 consensus, with revenue of $1.05 billion also topping estimates and rising 35.2% year over year. Everpure (P) Tops Q1 Earnings and Revenue Estimates
• Positive Sentiment: Management said AI-led storage demand, enterprise wins, and subscription growth helped drive the quarter, reinforcing the growth story for Everpure’s data storage business. Everpure Q1 Earnings Beat on Strong AI-Led Storage Demand, Sales Jump Y/Y
• Positive Sentiment: Several analysts responded favorably after the report, including JPMorgan raising its price target to $92 and Needham reiterating a buy rating with a $100 target, suggesting Wall Street sees continued upside. Analyst rating updates
• Neutral Sentiment: The company’s full-year revenue guidance came in above expectations, but next-quarter revenue guidance disappointed, which helped explain the stock’s volatility after earnings. P Q1 Deep Dive: Supply Chain Dynamics and Pricing Power Shape Results and Guidance
• Negative Sentiment: Investors were also disappointed by weaker free cash flow and cautious near-term guidance, which triggered a sharp post-earnings pullback despite the beat. Everpure beats on revenue and earnings but free cash flow drop sends shares lower

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.