Key Highlights

  • Shares are indicated up 6.63% to $117.00 in pre-market trading, against a prior close of $109.65.
  • The company reaffirmed fiscal 2027 Revenue guidance of $5.03 billion to $5.07 billion, representing 37% to 38% year-over-year growth.
  • A preliminary fiscal 2028 outlook calls for revenue of $7.0 billion to $7.3 billion, with non-GAAP Operating Income growth of 80% to 100%.
  • The announcement follows the company's recognition as a Leader in a major industry analyst firm's infrastructure platform report for the second year running.
  • Several analyst firms raised price targets on the stock in the days leading up to today's event.

A Long-Term Outlook Aimed at Expanding Beyond Core Storage

Everpure (NYSE:P) shares are surging in pre-market trading after the company used its 2026 Financial Analyst Meeting to lay out a Long-term Growth outlook built around expansion well beyond its original storage business.

The Santa Clara, California-based company, formerly known as Pure Storage, provides an integrated data storage and management platform for enterprises, cloud providers, and AI workloads. At the event, management detailed four strategic growth vectors: its core storage and AI-attached subscription business, a modern data software suite, a scale-AI product line built for AI-native cloud providers, and a hyperscale solutions line designed specifically for the largest Cloud Computing customers. The three newer vectors combined are expected to reach roughly 20% of total revenue by fiscal 2030.

Reaffirmed Near-Term Guidance Anchors a More Ambitious Long-Term View

The company reaffirmed the fiscal 2027 revenue and operating income guidance it had already provided on its most recent earnings call, calling for revenue of $5.03 billion to $5.07 billion and non-GAAP operating income of $940 million to $960 million. Alongside that reaffirmation, management issued a preliminary fiscal 2028 outlook calling for revenue of $7.0 billion to $7.3 billion and non-GAAP operating income of $1.7 billion to $1.9 billion, implying an acceleration in growth rather than a slowdown as the company scales.

Sustained R&D Investment Supports the Growth Case

Management pointed to a decade of consistently high Research and Development spending, averaging 19% of annual revenue on a non-GAAP basis over the past five years, as the foundation supporting both its core Business durability and its expansion into these new markets. Eight consecutive quarters of accelerating core revenue growth were cited as evidence that this concentrated investment approach, building on a single unified platform rather than spreading resources across multiple legacy architectures, has been paying off.

Recent Industry Recognition Adds to the Bullish Backdrop

Today's rally also builds on the company's recognition as a Leader in a major industry analyst firm's report on infrastructure platform consumption services, marking the second consecutive year it has earned that distinction and its strongest positioning yet within the report. That recognition, combined with several analyst firms raising price targets in the days leading up to today's event, appears to be reinforcing the bullish reaction to the long-term targets themselves.