Everpure (NYSE:P) Stock Price Up 7.7% Following Analyst Upgrade

Everpure, Inc. (NYSE:P) shares were up 7.7% during mid-day trading on Friday after JPMorgan Chase & Co. raised their price target on the stock from $80.00 to $92.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Everpure traded as high as $79.00 and last traded at $78.6410. Approximately 961,891 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 3,377,117 shares. The stock had previously closed at $73.04.

Several other research firms have also weighed in on P. Northland Securities set a $90.00 price target on Everpure in a research report on Thursday. Wedbush lifted their target price on Everpure from $100.00 to $105.00 and gave the company an “outperform” rating in a research note on Thursday. Citigroup downgraded Everpure from a “buy” rating to a “neutral” rating and set a $90.00 target price on the stock. in a report on Thursday, May 14th. Barclays increased their price target on shares of Everpure from $81.00 to $84.00 and gave the stock an “equal weight” rating in a research report on Thursday. Finally, Wall Street Zen raised shares of Everpure from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Thirteen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Everpure has an average rating of “Moderate Buy” and a consensus price target of $96.32.

Insider Buying and Selling at Everpure

In other news, insider John Colgrove sold 200,000 shares of Everpure stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $85.93, for a total transaction of $17,186,000.00. Following the completion of the sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 534,265 shares of company stock worth $41,321,234. 5.10% of the stock is owned by company insiders.

Key Everpure News

Here are the key news stories impacting Everpure this week:

• Positive Sentiment: Everpure posted a solid Q1 beat, with EPS of $0.47 versus $0.40 expected and revenue of $1.05 billion versus $997.9 million expected, while revenue rose 35.2% year over year. The company also said product revenue jumped 55% and AI-led storage demand remained strong. Article Title
• Positive Sentiment: Management raised full-year revenue and operating profit guidance, and several analysts responded favorably, including JPMorgan lifting its price target to $92 and Needham reiterating a buy rating with a $100 target. Article Title
• Neutral Sentiment: Analysts and market commentary noted that demand from AI infrastructure, enterprise wins, and subscription growth supported the quarter, but some reports also pointed to supply chain issues and memory shortages as operational headwinds. Article Title
• Negative Sentiment: The stock fell because Q2 guidance looked soft relative to expectations, with next-quarter revenue guidance well below analyst estimates, raising concern that growth may slow after a strong first quarter. Article Title
• Negative Sentiment: Some investors were also disappointed by a drop in free cash flow, which added to the post-earnings selloff despite the beat on earnings and revenue. Article Title

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of P. Winnow Wealth LLC bought a new position in Everpure during the third quarter valued at about $26,000. Provenance Wealth Advisors LLC bought a new stake in shares of Everpure during the 3rd quarter worth about $27,000. Salomon & Ludwin LLC increased its holdings in shares of Everpure by 108.2% during the 4th quarter. Salomon & Ludwin LLC now owns 383 shares of the company’s stock valued at $27,000 after acquiring an additional 199 shares during the last quarter. Foster Dykema Cabot & Partners LLC bought a new position in shares of Everpure in the 3rd quarter valued at approximately $28,000. Finally, Sunbelt Securities Inc. raised its stake in shares of Everpure by 287.1% in the 3rd quarter. Sunbelt Securities Inc. now owns 329 shares of the company’s stock valued at $28,000 after acquiring an additional 244 shares in the last quarter. Institutional investors own 83.42% of the company’s stock.

Everpure Price Performance

The firm has a market capitalization of $25.88 billion, a price-to-earnings ratio of 119.23, a P/E/G ratio of 6.31 and a beta of 1.44.

Everpure (NYSE:P) last announced its quarterly earnings results 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 16.12% and a net margin of 5.75%.The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $997.88 million. During the same quarter last year, the company posted $0.29 earnings per share. The company’s revenue for the quarter was up 35.2% compared to the same quarter last year. As a group, equities research analysts forecast that Everpure, Inc. will post 0.72 EPS for the current year.

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.