Everpure (NYSE:P – Get Free Report) had its price target upped by analysts at JPMorgan Chase & Co. from $80.00 to $92.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 25.19% from the stock’s previous close.
Several other equities analysts have also recently issued reports on the company. UBS Group reissued a “sell” rating and set a $70.00 target price on shares of Everpure in a research note on Thursday. Lake Street Capital reissued a “buy” rating and set a $94.00 target price on shares of Everpure in a research note on Thursday. Weiss Ratings initiated coverage on Everpure in a research note on Monday, April 20th. They set a “hold (c)” rating on the stock. Guggenheim raised their target price on shares of Everpure from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Everpure in a research report on Thursday. Thirteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Everpure currently has a consensus rating of “Moderate Buy” and an average price target of $96.32.
Everpure Stock Down 14.3%
Everpure (NYSE:P – Get Free Report) last announced its quarterly earnings results on Wednesday, May 27th. The company reported $0.47 earnings per share for the quarter, beating 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 5.14% and a return on equity of 14.36%. The firm’s revenue for the quarter was up 35.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.29 EPS. Sell-side analysts expect that Everpure will post 0.72 EPS for the current fiscal year.
Insider Activity at Everpure
In other news, insider John Colgrove sold 200,000 shares of the firm’s stock in a transaction dated 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 approximately $569,305,240.53. This trade represents a 2.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 534,265 shares of company stock valued at $41,321,234. Company insiders own 5.10% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of P. Integrated Wealth Concepts LLC bought a new position in shares of Everpure in the 1st quarter worth about $541,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Everpure by 129.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,742 shares of the company’s stock worth $387,000 after acquiring an additional 4,926 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Everpure by 109.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,137,939 shares of the company’s stock worth $50,377,000 after acquiring an additional 595,307 shares in the last quarter. Empowered Funds LLC increased its stake in shares of Everpure by 4.2% in the 1st quarter. Empowered Funds LLC now owns 4,790 shares of the company’s stock worth $212,000 after acquiring an additional 194 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Everpure by 261.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,203 shares of the company’s stock worth $184,000 after acquiring an additional 2,316 shares in the last quarter. 83.42% of the stock is currently owned by institutional investors.
Everpure News Roundup
Here are the key news stories impacting Everpure this week:
- Positive Sentiment: Everpure reported Q1 EPS of $0.47, beating expectations, while revenue rose 35.2% year over year to $1.05 billion on strong AI infrastructure demand, enterprise wins, and subscription growth. The company also raised full-year revenue and operating profit guidance. Everpure Announces First Quarter Fiscal 2027 Financial Results
- Positive Sentiment: Several analysts responded favorably after the print, including Needham reaffirming a Buy rating with a $100 price target and Morgan Stanley lifting its target to $87, signaling continued confidence in the story. Analyst rating updates
- Neutral Sentiment: The company’s stronger-than-expected annual guidance suggests demand remains healthy, but next quarter’s revenue outlook was viewed as less impressive and appears to have tempered enthusiasm. P Q1 Deep Dive: Supply Chain Dynamics and Pricing Power Shape Results and Guidance
- Negative Sentiment: Investors also appeared to react to a drop in free cash flow and softer near-term guidance, which outweighed the earnings beat and helped drive the stock lower after the release. 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.
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