Everpure Projects Accelerated Growth on AI Infrastructure Demand
Everpure, formerly Pure Storage, saw its stock hit record highs after outlining a fiscal 2028 revenue target of $7.0–7.3 billion with improved operating margins. The company cited eight consecutive quarters of accelerating growth, driven by AI infrastructure and hyperscale customers. Analysts responded by raising price targets, including Northland Securities to $167 from $128.
The company’s preliminary fiscal 2028 revenue projection of $7.0–7.3 billion represents a notable step up from its current trajectory, with management explicitly forecasting an acceleration in growth for that period. This outlook follows eight consecutive quarters of improving growth rates, a streak the company attributes to both its established enterprise storage operations and emerging AI-related opportunities. Everpure is now organizing its strategy around four distinct areas: enterprise and AI storage, data-management software, large-scale AI infrastructure, and hyperscale systems.
The hyperscale push has already secured design wins with two of the top five global hyperscalers, though management expects these contracts to generate significant revenue only starting in fiscal 2028. The company’s FlashBlade//EXA platform is designed to address storage bottlenecks in large AI deployments, while its DirectFlash technology targets massive data center operators. Wall Street’s response was swift, with Northland Securities raising its target to $167 from $128, while BofA moved to $180 from $150.
This earnings outlook may signal a broader shift in how AI infrastructure spending flows through the technology sector. If Everpure’s projections hold, it could indicate that storage and data management are becoming as critical as computing power in AI buildouts, potentially affecting investment decisions across the industry. Investors and technology firms may watch this as a bellwether for whether AI-related capital expenditures are sustainable or approaching a saturation point. Employees and shareholders of storage companies could see valuation changes, while enterprise customers might face evolving pricing dynamics as the market consolidates around AI-capable infrastructure providers.