Everpure Stock Is September’s Surprise S&P 500 Winner, Surging More Than 40% As Retail Piles In

• Everpure’s forecast FY28 outlook calls for $7 billion-$7.3 billion in revenue, representing growth of up to 45%, at its investor day event last month.
• S&P 500 inclusion and strong second-quarter results added momentum.
• Morgan Stanley, Citi and Bank of America, among others, raised their estimates or price targets on Everpure stock.

Everpure Inc. (P), formerly known as Pure Storage, has emerged as September’s surprise S&P 500 winner, with shares surging more than 40% during the month as investors and retail traders piled into the stock following a sharply higher long-term growth outlook. 

The rally accelerated after the company’s Sept. 23 analyst day, where management laid out a much more ambitious growth target tied to AI, hyperscalers and data management.

Moderna, Inc. (MRNA) and Intel Corp. (INTC) finished second and third, with 37.2% and 34.3% gains, respectively.

Everpure Raises The Growth Bar

The biggest catalyst was Everpure’s preliminary FY28 outlook. The company projected revenue of $7 billion-$7.3 billion, implying 39%-45% growth, alongside non-GAAP operating income of $1.7 billion-$1.9 billion, up as much as 100%. Everpure also reaffirmed FY27 revenue growth of 37%-38%.  

The forecast bump underscores Everpure’s effort to expand beyond its traditional enterprise-storage business into data management, helping companies organize and make data usable across enterprise applications and increasingly AI workloads. 

The company said it is pursuing hyperscalers and neocloud deals, while expanding its software and data-intelligence offerings. Everpure changed its name from Pure Storage in February 2026, beginning trading as Everpure on March 5, to reflect the pivot.

S&P 500 Inclusion, Strong Q2 Add Momentum

The September rally built on Everpure’s strong second-quarter report, issued on Aug. 26. Revenue rose 38% to $1.2 billion, while product revenue jumped 54%, prompting the company to significantly raise FY27 guidance at the time.  

Then came S&P 500 inclusion. Everpure announced Sept. 8 that it would enter the index effective Sept. 21, giving the stock greater visibility and potentially expanding the pool of institutional investors tracking it.  

How Everpure Compares With SNDK, WDC

The rally outpaced fellow storage stocks SanDisk and Western Digital, which gained 17.2% and 1%, respectively, last month.

Everpure overlaps with SanDisk Corp. (SNDK) and Western Digital Corp. (WDC) through the broader storage and AI-infrastructure market, but its business model differs.

Everpure focuses on enterprise all-flash storage, subscriptions and increasingly data-management software. SanDisk is much more exposed to NAND flash memory, SSDs and data-center storage; it generated $20.25 billion of FY26 revenue, up 175%.  

Western Digital, meanwhile, is primarily a hard-disk-drive company following its separation from SanDisk, with FY26 revenue of about $13 billion and Q4 revenue of $3.75 billion.  

Analysts Revise Targets

In an investor note published last week, Morgan Stanley said Everpure made a compelling case that continued market-share gains, a larger total addressable market and faster industry growth could support a new “Rule of 60” baseline. 

The research firm raised its FY28 and FY29 EPS estimates 15% and 30%, respectively, and now expects 35% revenue growth and 43% EPS growth through 2029.

Citi called Everpure an “inflection point,” saying its storage intellectual property has created a data-management platform spanning enterprises, hyperscalers and neoclouds. Citi raised its price target to $160 from $130. Bank of America, too, lifted its target to $180 from $150.

Retail Traders Are Watching, But Sentiment Is Mixed

On Stocktwits, the retail sentiment for Everpure has oscillated between ‘bullish’ and ‘bearish,’ settling at ‘neutral’ on Thursday.

“$P one way to play $MU is to short P. They ran up on the memory hype but they are flash, mainly enterprise, and on top trying to swing saas as a revenue source. They’ve run too much and if MU margins are exposed as troublesome then this moves a lot lower,” a trader said.

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