Everpure Stock Hits Record High – TD Cowen Says Oracle Could Be Its New Hyperscale Customer, Sees Meta Revenue Growth Ahead

• TD Cowen analyst Krish Sankar believes that Oracle could be the unnamed “top five hyperscaler” behind Everpure’s latest design win.
• The latest agreement marks Everpure’s second major hyperscaler design win this year, following its deal with Meta Platforms.
• Sankar said a potential Oracle opportunity could initially be smaller than the Meta business but could “grow materially longer term.”

Shares of Everpure (P) gained in early morning trade on Tuesday, marking a fresh intra-day record high, after a price hike from TD Cowen analyst Krish Sankar, who believes that the firm’s recently announced new customer is Oracle (ORCL).

TD Cowen raised its target on Everpure stock to $170 from $100 and kept a ‘Buy’ rating, per a note to investors cited by TheFly. The action follows Everpure’s announcement that it had signed a new design agreement with a “top five hyperscaler” for its DirectFlash technology.

The customer was not identified, but it is the second major hyperscaler design win that Everpure has announced this year, following the deal with Meta Platforms (META). The company’s DirectFlash technology is designed to improve storage performance and efficiency for hyperscale data centers.

P stock gained 1.6% in morning trade amid weakness in the broader market, breaching the $119 mark for the first time, before retreating to around $116. On Stocktwits, retail sentiment around the company remained in ‘extremely bullish’ territory over the past day. Chatter dropped to ‘high’ from ‘extremely high’ levels.

Meta Opportunity Bigger Than Oracle

TD Cowen stated it also sees between $100 million and $150 million in revenue from Everpure’s first hyperscaler client, Meta. It expects that revenue to grow between 50% and 100% over the next year. 

Sankar said the opportunity with the newly announced hyperscaler could initially be smaller than the Meta business, but still has room to expand over time. “Everpure's opportunity at Oracle is 2-3 times smaller than Meta in 2027, but can grow materially longer term,” the firm wrote.

Everpure Is At An ‘Inflection’ Point

TD Cowen isn’t the only Wall Street firm bullish on Everpure. Last week, Guggenheim analyst Howard Ma raised the price target on Everpure to $150 from $115 and kept a ‘Buy’ rating on the shares. Everpure is "on the verge of the biggest inflection in the company's history, and we'd rather be wrong in hindsight (apologies in advance if we are) than miss calling it," the analyst told investors.

Earlier this month, Citi upgraded Everpure to ‘Buy’ from ‘Neutral’ with a price target of $118, up from $90 after the company announced its second design win with the unnamed “top-five hyperscaler.” Citi said the new design win expands Everpure’s addressable market and could drive "robust operating income momentum" in 2028.

P stock has gained more than 75% this year and more than doubled over the past 12 months.

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