Everpure raises FY27 revenue guidance to $5.03 bln-$5.07 bln from $4.41 bln-$4.51 bln
Company expects Q3FY27 revenue of $1.325 bln-$1.335 bln, up 37%-38% year-over-year
Everpure sees FY27 non-GAAP operating income at $940 mln-$960 mln, up 48%-51% year-over-year
Overview
US storage platform's fiscal Q2 revenue rose 38% yr/yr, beating analyst expectations
Adjusted EPS for fiscal Q2 beat analyst expectations
Company raised FY27 revenue and operating profit guidance on strong demand
Result drivers
Product revenue surge - Product revenue grew 54% yr/yr, driven by demand for new AI, data intelligence, and hyperscale offerings, per CEO Charles Giancarlo
Hyperscale customer wins - Landmark design win with a second top-five hyperscaler boosted results, leveraging Everpure's DirectFlash architecture
Strong demand across portfolio - Company said demand remained strong for its solutions despite industry price increases, per CFO Tarek Robbiati
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 17 "strong buy" or "buy", 2 "hold" and 2 "sell" or "strong sell"
The average consensus recommendation for the computer hardware peer group is "buy"
Wall Street's median 12-month price target for Everpure Inc is $98.50, about 4.2% below its August 25 closing price of $102.81
The stock recently traded at 37 times the next 12-month earnings vs. a P/E of 29 three months ago
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