Everpure (NYSE:PSTG) Upgraded at Northland Securities

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 on Monday, MarketBeat Ratings reports. The firm presently has a $81.00 target price on the technology company’s stock. Northland Securities’ target price would suggest a potential upside of 32.72% from the stock’s previous close.

PSTG has been the subject of several other research reports. Oppenheimer started coverage on Everpure in a research note on Monday, November 17th. They issued an “outperform” rating and a $120.00 price target for the company. Citigroup dropped their price target on shares of Everpure from $105.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, February 17th. Morgan Stanley set a $83.00 price objective on shares of Everpure in a research note on Wednesday, December 3rd. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price objective on shares of Everpure in a report on Wednesday, December 3rd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Everpure in a report on Thursday, January 22nd. Thirteen investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $94.53.

Everpure Trading Down 0.2%

Shares of NYSE:PSTG opened at $61.03 on Monday. The firm has a market cap of $20.15 billion, a price-to-earnings ratio of 110.97, a P/E/G ratio of 4.56 and a beta of 1.29. Everpure has a 1 year low of $34.51 and a 1 year high of $100.59. The business has a fifty day simple moving average of $69.81 and a 200 day simple moving average of $77.90.

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

Insiders Place Their Bets

In other Everpure news, insider Ajay Singh sold 7,178 shares of the business’s stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of $67.14, for a total transaction of $481,930.92. Following the completion of the transaction, the insider owned 215,091 shares of the company’s stock, valued at $14,441,209.74. The trade was a 3.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Everpure

A number of institutional investors have recently made changes to their positions in PSTG. Integrated Wealth Concepts LLC acquired a new stake in Everpure during the first quarter worth about $541,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised 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 technology company’s stock valued at $387,000 after buying an additional 4,926 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Everpure by 109.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,137,939 shares of the technology company’s stock worth $50,377,000 after acquiring an additional 595,307 shares during the period. Empowered Funds LLC boosted its position in shares of Everpure by 4.2% during the 1st quarter. Empowered Funds LLC now owns 4,790 shares of the technology company’s stock valued at $212,000 after acquiring an additional 194 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. increased its stake in Everpure by 7.6% in the second quarter. Resona Asset Management Co. Ltd. now owns 99,669 shares of the technology company’s stock valued at $5,712,000 after acquiring an additional 7,077 shares during the period. 83.42% of the stock is currently owned by institutional investors.

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.