Everpure Says It’s at an ‘Inflection Point’

Everpure Inc. (NYSE:P) stock rose in Thursday’s premarket trading after the data storage company outlined a broader growth strategy and issued a preliminary fiscal 2028 outlook at its 2026 Financial Analyst Meeting. The company also reaffirmed its fiscal 2027 outlook as it expands beyond its core storage business into artificial intelligence, data software and hyperscale markets. Targets Faster Growth Everpure said its strategy centers on four growth areas: Core and Core AI, Modern Data Software, Scale AI and Hyperscale Solutions. The company expects its core business to continue gaining market share. Meanwhile, Modern Data Software, Scale AI and Hyperscale Solutions are expected to account for about 20% of total revenue by fiscal 2030. CEO Charlie Giancarlo said Everpure is at an "inflection point" as it expands into enterprise data management and hyperscaler solutions. The company said its integrated technology platform has helped produce eight consecutive quarters of accelerating revenue growth. Everpure has also spent an average of about 19% of annual revenue on research and development over the past five years on a non-GAAP basis. See More: Top Value Stocks Everpure Fiscal 2028 Outlook For fiscal 2027, Everpure reaffirmed revenue guidance of $5.03 billion to $5.07 billion. That represents year-over-year growth of 37% to 38%. The company continues to expect non-GAAP operating income of $940 million to $960 million, up 48% to 51% from the prior year. Everpure also introduced a preliminary fiscal 2028 outlook. It expects revenue of $7 billion to $7.3 billion, representing growth of 39% to 45%. Non-GAAP operating income is projected at $1.7 billion to $1.9 billion, implying year-over-year growth of 80% to 100%. The company said its capital allocation priorities include organic investment, balance-sheet strength, strategic acquisitions and share repurchases. Earnings Snapshot In August, Everpure reported second-quarter sales of $1.186 billion, which beat the $1.097 billion estimate. Adjusted earnings of 70 cents per share also beat the analyst estimate of 58 cents. The company expects third-quarter sales of $1.325 billion to $1.335 billion, above the $1.137 billion analyst estimate. Everpure Analyst Outlook The stock carries a Buy consensus rating, with an average price forecast near $130. Needham maintained a Buy rating and a $140 price forecast on Sept. 17. Barclays maintained an Equal-Weight rating and raised its price forecast to $110 on Aug. 28. Northland Capital Markets maintained an Outperform rating and raised its price forecast to $128 on Aug. 28. Top ETF Exposure The iShares Core S&P Mid-Cap ETF (NYSE:IJH) has a 0.88% weighting in Everpure. The iShares S&P Mid-Cap 400 Growth ETF (NYSE:IJK) has a 1.70% weighting, while the Invesco S&P MidCap Quality ETF (NYSE:XMHQ) has a 4.17% weighting. Large inflows or outflows from those funds can contribute to buying or selling activity in Everpure shares. P Price Action: Everpure shares were up 6.70% at $117.00 during premarket trading on Thursday. The stock is trading near its 52-week high of $119.10, according to Benzinga Pro data. Photo courtesy of Everpure Read Also: Stock Market Today: S&P 500, Nasdaq 100 Futures Drop as Bessent Says Iranian Aviation Restrictions Are Working — ABNB, ORCL, COST in Focus