Nimble Storage Rating Increased to Buy at Goldman Sachs (NMBL)
Nimble Storage (NASDAQ:NMBL) was upgraded by analysts at Goldman Sachs from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Thursday, TheFlyOnTheWall.com reports. The firm currently has a $34.00 price target on the stock, down from their previous price target of $46.00. Goldman Sachs’ target price indicates a potential upside of 48.99% from the stock’s previous close.
Shares of Nimble Storage (NASDAQ:NMBL) traded up 3.07% on Thursday, hitting $23.52. The stock had a trading volume of 353,162 shares. Nimble Storage has a 1-year low of $19.17 and a 1-year high of $58.00. The stock has a 50-day moving average of $29.70 and a 200-day moving average of $39.27. The company’s market cap is $1.681 billion.
Nimble Storage (NASDAQ:NMBL) last issued its quarterly earnings data on Friday, February 28th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the 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. The company’s revenue for the quarter was up 106.4% on a year-over-year basis. On average, analysts predict that Nimble Storage will post $-0.58 earnings per share for the current fiscal year.
NMBL has been the subject of a number of other recent research reports. Analysts at Ned Davis Research upgraded shares of Nimble Storage from a “sell” rating to a “neutral” rating in a research note on Monday. Separately, analysts at William Blair upgraded shares of Nimble Storage from a “market perform” rating to an “outperform” rating in a research note on Monday. They now have a $35.00 price target on the stock, down previously from $62.00. They noted that the move was a valuation call. Finally, 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. One analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Nimble Storage has a consensus rating of “Buy” and a consensus target price of $45.95.
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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