TD Cowen Increases Everpure (NYSE:P) Price Target to $170.00

Everpure (NYSE:P) had its target price boosted by analysts at TD Cowen from $100.00 to $170.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. TD Cowen’s target price would suggest a potential upside of 45.85% from the company’s current price.

P has been the topic of several other reports. Guggenheim boosted their target price on Everpure from $115.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday. Weiss Ratings reiterated a “hold (c)” rating on shares of Everpure in a research note on Friday, July 17th. Northland Securities set a $90.00 price target on Everpure in a report on Thursday, May 28th. Zacks Research lowered Everpure from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. Finally, Piper Sandler restated an “overweight” rating on shares of Everpure in a research note on Thursday, May 28th. Sixteen equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $104.95.

Everpure Price Performance

NYSE:P traded down $0.43 during midday trading on Tuesday, reaching $116.56. 604,246 shares of the stock traded hands, compared to its average volume of 3,280,794. Everpure has a 12-month low of $54.37 and a 12-month high of $119.10. The firm has a 50-day moving average price of $79.50. The company has a market cap of $38.74 billion, a PE ratio of 177.00, a PEG ratio of 6.63 and a beta of 1.45.

Everpure (NYSE:P) last announced its 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. Everpure had a net margin of 5.75% and a return on equity of 15.97%. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $997.88 million. During the same period last year, the firm earned $0.29 earnings per share. Everpure’s revenue was up 35.2% compared to the same quarter last year. Equities analysts forecast that Everpure will post 0.93 EPS for the current year.

Insider Transactions at Everpure

In other Everpure news, insider Ajay Singh sold 9,787 shares of Everpure stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $78.12, for a total transaction of $764,560.44. Following the completion of the sale, the insider owned 340,939 shares of the company’s stock, valued at approximately $26,634,154.68. The trade was a 2.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Andrew William Fraser Brown sold 4,735 shares of the stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $72.57, for a total value of $343,618.95. Following the completion of the transaction, the director directly owned 27,683 shares in the company, valued at $2,008,955.31. This represents a 14.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 827,800 shares of company stock worth $78,153,882. 5.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Everpure

Large investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio acquired a new position in Everpure in the 2nd quarter worth approximately $12,547,000. Paradigm Capital Management Inc. NY purchased a new position in Everpure during the 2nd quarter worth approximately $2,127,000. Summit Creek Advisors LLC acquired a new stake in Everpure during the 2nd quarter valued at approximately $5,671,000. S&CO Inc. acquired a new stake in Everpure during the 2nd quarter valued at approximately $15,003,000. Finally, Bigelow Investment Advisors LLC purchased a new stake in shares of Everpure in the 1st quarter valued at $231,000. Hedge funds and other institutional investors own 83.42% of the company’s stock.

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.