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Nimble Storage (NASDAQ:NMBL) was upgraded by equities research analysts at William Blair from a “market perform” rating to an “outperform” rating in a research note issued to investors on Monday, TheFlyOnTheWall.com reports. The firm currently has a $35.00 price objective on the stock, down from their previous price objective of $62.00. William Blair’s target price indicates a potential upside of 69.99% from the company’s current price. The analysts noted that the move was a valuation call.

NMBL has been the subject of a number of other recent research reports. Analysts at Needham & Company LLC upgraded shares of Nimble Storage from a “buy” rating to a “strong-buy” rating in a research note on Monday. They now have a $35.00 price target on the stock, down previously from $62.00. Separately, analysts at DA Davidson reiterated an “underperform” rating on shares of Nimble Storage in a research note on Thursday. They now have a $26.50 price target on the stock. Finally, analysts at Piper Jaffray reiterated an “overweight” rating on shares of Nimble Storage in a research note on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Nimble Storage has a consensus rating of “Buy” and a consensus price target of $47.68.

Shares of Nimble Storage (NASDAQ:NMBL) traded up 15.30% during mid-day trading on Monday, hitting $23.7398. The stock had a trading volume of 554,157 shares. Nimble Storage has a one year low of $19.17 and a one year high of $58.00. The stock’s 50-day moving average is $30.87 and its 200-day moving average is $39.76. The company’s market cap is $1.697 billion.

Nimble Storage (NASDAQ:NMBL) last released its earnings data on Friday, February 28th. The company reported ($0.14) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.16) by $0.02. The company had revenue of $41.70 million for the quarter, compared to the consensus estimate of $38.07 million. Nimble Storage’s revenue was up 106.4% compared to the same quarter last year. Analysts expect that Nimble Storage will post $-0.58 EPS for the current fiscal year.

Nimble Storage, Inc provides its customers with data storage platform. The Company focuses on research and development of its technology platform, developing new products and enhancing its cloud-based management services.

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