Everpure (NYSE:PSTG) Rating Increased to Outperform at Northland Securities

Northland Securities upgraded shares of Everpure (NYSE:PSTG) from a market perform rating to an outperform rating in a report published on Monday, Marketbeat reports. Northland Securities currently has $81.00 price target on the technology company’s stock, up from their previous price target of $77.00.

Other equities analysts also recently issued research reports about the stock. Wedbush reiterated an “outperform” rating and issued a $100.00 target price on shares of Everpure in a research note on Monday, February 23rd. TD Cowen reiterated a “buy” rating on shares of Everpure in a research note on Wednesday, December 3rd. Susquehanna set a $105.00 price target on Everpure in a report on Wednesday, December 3rd. Barclays lifted their price target on Everpure from $77.00 to $81.00 and gave the company an “equal weight” rating in a research report on Thursday, February 26th. Finally, Wall Street Zen upgraded Everpure from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Thirteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.53.

Everpure Trading Up 3.4%

Shares of NYSE PSTG opened at $62.96 on Monday. The stock has a fifty day simple moving average of $69.70 and a two-hundred day simple moving average of $77.95. Everpure has a 1-year low of $34.51 and a 1-year high of $100.59. The firm has a market cap of $20.79 billion, a price-to-earnings ratio of 114.47, a price-to-earnings-growth ratio of 4.56 and a beta of 1.29.

Everpure (NYSE:PSTG) last issued its quarterly 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 analysts’ expectations of $1.03 billion. During the same quarter in the prior year, the firm earned $0.45 EPS. The business’s revenue for the quarter was up 20.4% compared to the same quarter last year. Analysts forecast that Everpure will post 0.44 EPS for the current year.

Insider Activity at Everpure

In related news, insider Ajay Singh sold 7,178 shares of the company’s stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $67.14, for a total value of $481,930.92. Following the transaction, the insider directly owned 215,091 shares in the company, valued at approximately $14,441,209.74. This represents a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On Everpure

Hedge funds have recently bought and sold shares of the stock. Winnow Wealth LLC bought a new position in shares of Everpure in the 3rd quarter worth $26,000. Provenance Wealth Advisors LLC bought a new stake in shares of Everpure during the 3rd quarter worth $27,000. Salomon & Ludwin LLC grew its position in Everpure by 108.2% in the fourth quarter. Salomon & Ludwin LLC now owns 383 shares of the technology company’s stock worth $27,000 after acquiring an additional 199 shares in the last quarter. Foster Dykema Cabot & Partners LLC purchased a new position in Everpure in the third quarter worth $28,000. Finally, Sunbelt Securities Inc. increased its stake in Everpure by 287.1% in the third quarter. Sunbelt Securities Inc. now owns 329 shares of the technology company’s stock valued at $28,000 after acquiring an additional 244 shares during the last quarter. 83.42% of the stock is currently owned by institutional investors.

About Everpure

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.