Everpure (P) Stock Surges 7% Following Ambitious AI Revenue Forecast

TLDR

• Shares of Everpure surged 7% in premarket hours Thursday following an impressive analyst day event.
• Management outlined fiscal 2028 revenue expectations of $7 billion to $7.3 billion, representing 39% to 45% growth.
• The company maintained its fiscal 2027 outlook, targeting 37% to 38% revenue expansion with operating income gains of 48% to 51%.
• Multiple Wall Street firms, including Northland, BofA Securities, and Needham, lifted their price targets or rating.
• Shares have climbed 64% year-to-date and were recently added to the S&P 500 index.

Everpure shares advanced 7% to $117.29 during Thursday’s premarket session. The surge followed the data storage specialist’s optimistic long-range financial outlook presented at its analyst meeting in Santa Clara.

Everpure, Inc., P

The equity had finished Wednesday’s regular session down 1.1% before rallying strongly. For September, the stock has now gained 18%, extending its year-to-date advance to 64%.

The storage technology firm, previously operating as Pure Storage, hosted its 2026 Financial Analyst Meeting Wednesday evening. During the presentation, management introduced ambitious fiscal 2028 targets that exceeded market expectations.

Key Financial Targets Unveiled

Management projected fiscal 2028 revenue ranging from $7 billion to $7.3 billion. This represents annual growth of 39% to 45% compared to the previous fiscal year.

The company anticipates non-GAAP operating income for fiscal 2028 will reach $1.7 billion to $1.9 billion. This projection implies approximately 80% to 100% year-over-year expansion in profitability.

Everpure maintained its previously announced fiscal 2027 outlook. Revenue is still anticipated to fall between $5.03 billion and $5.07 billion, reflecting 37% to 38% annual growth.

For fiscal 2027, adjusted operating income is expected to climb 48% to 51%, reaching $940 million to $960 million. Analysts polled by FactSet had been modeling fiscal 2028 revenue around $6.5 billion, making the company’s guidance notably above consensus estimates.

Chief Executive Charlie Giancarlo characterized the current period as a pivotal strategic juncture. He highlighted the company’s decade-long commitment to building what he termed an integrated and extensible platform architecture.

Giancarlo identified four key expansion opportunities: Core and Core AI, Modern Data Software, Scale AI, and Hyperscale Solutions.

Wall Street Raises Targets

Analyst responses came quickly. Northland elevated its price objective to $128 from $90 while maintaining an Outperform rating.

BofA Securities took a more aggressive stance, upgrading shares to Buy from a prior rating and establishing a $150 price target. Needham reaffirmed its Buy recommendation and assigned a $140 target.

The stock’s advance occurred against a weak broader market backdrop. The S&P 500 declined 0.75%, the Dow Jones fell 0.68%, and the Nasdaq Composite dropped 1.13% during the same period Everpure was rallying.

This divergence indicates the movement was propelled by company-specific developments rather than general market sentiment. Everpure became an S&P 500 constituent on September 21, taking the place of The Trade Desk during the index’s quarterly reconstitution.

This S&P 500 membership has created additional support for the shares. Index-tracking funds must hold the stock, making it more responsive to positive corporate announcements.

The premarket price of $117.40 on Thursday positioned shares near their 52-week peak of $119.10. This marks a significant recovery from the 52-week low of $56.78 recorded earlier in the year.

The post Everpure (P) Stock Surges 7% Following Ambitious AI Revenue Forecast appeared first on Blockonomi.