Everpure (NYSE:P) Shares Gap Down – Here’s What Happened

Everpure, Inc. (NYSE:P) shares gapped down prior to trading on Thursday . The stock had previously closed at $85.74, but opened at $74.50. Everpure shares last traded at $70.18, with a volume of 2,123,130 shares.

More Everpure News

Here are the key news stories impacting Everpure this week:

• Positive Sentiment: Everpure reported first-quarter fiscal 2027 earnings that beat expectations, with EPS of $0.47 versus the $0.40 consensus and revenue of $1.05 billion versus $997.9 million expected. Revenue rose 35.2% year over year, and management increased full-year revenue and operating profit guidance. Article Title
• Positive Sentiment: Needham reaffirmed its Buy rating and raised its price target to $100, implying meaningful upside from recent trading levels. Article Title
• Positive Sentiment: Morgan Stanley also lifted its price target on Everpure to $87, signaling continued analyst confidence even while keeping an Equal Weight rating. Article Title
• Neutral Sentiment: Market commentary highlighted that Everpure’s revenue and earnings beat was partly offset by a disappointing next-quarter revenue guide, which came in well below expectations and appears to be a key reason the stock has been weaker. Article Title
• Negative Sentiment: Some reports said the stock slid after the earnings release as investors focused on the softer near-term guidance and concerns around free cash flow, despite the strong headline beats. Article Title

Analyst Ratings Changes

P has been the subject of several research analyst reports. Wall Street Zen raised Everpure from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. Wells Fargo & Company lifted their price objective on Everpure from $90.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday. UBS Group reaffirmed a “sell” rating and issued a $70.00 price objective on shares of Everpure in a report on Thursday. JPMorgan Chase & Co. cut their price objective on Everpure from $105.00 to $80.00 and set an “overweight” rating for the company in a report on Thursday, April 16th. Finally, Piper Sandler reissued an “overweight” rating on shares of Everpure in a report on Thursday. Thirteen research 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. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $95.68.

Everpure Stock Down 15.6%

The stock has a market cap of $23.91 billion, a P/E ratio of 131.12, a PEG ratio of 6.50 and a beta of 1.44.

Everpure (NYSE:P) last announced its quarterly earnings data 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 return on equity of 14.36% and a net margin of 5.14%.The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $997.88 million. During the same period in the previous year, the business earned $0.29 earnings per share. The business’s revenue was up 35.2% on a year-over-year basis. Analysts forecast that Everpure, Inc. 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 business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $85.93, for a total value of $17,186,000.00. Following the transaction, the insider directly owned 6,625,221 shares in the company, 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 sold 534,265 shares of company stock valued at $41,321,234 in the last quarter. 5.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Everpure

A number of hedge funds have recently made changes to their positions in P. Winnow Wealth LLC bought a new position in Everpure during the third quarter valued at approximately $26,000. Provenance Wealth Advisors LLC bought a new stake in Everpure in the 3rd quarter worth approximately $27,000. Sunbelt Securities Inc. raised its holdings in shares of Everpure by 287.1% during the 3rd quarter. Sunbelt Securities Inc. now owns 329 shares of the company’s stock worth $28,000 after acquiring an additional 244 shares in the last quarter. Foster Dykema Cabot & Partners LLC purchased a new stake in shares of Everpure during the 3rd quarter worth approximately $28,000. Finally, Assetmark Inc. raised its holdings in shares of Everpure by 186.6% during the 3rd quarter. Assetmark Inc. now owns 341 shares of the company’s stock worth $29,000 after acquiring an additional 222 shares in the last quarter. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

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.