Needham & Company LLC Upgrades Nimble Storage to Strong-Buy (NMBL)
Nimble Storage (NASDAQ:NMBL) was upgraded by investment analysts at Needham & Company LLC from a “buy” rating to a “strong-buy” rating in a 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. Needham & Company LLC’s price objective points to a potential upside of 32.33% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at DA Davidson reiterated an “underperform” rating on shares of Nimble Storage in a research note on Thursday, May 8th. They now have a $26.50 price target on the stock. Separately, analysts at Piper Jaffray reiterated an “overweight” rating on shares of Nimble Storage in a research note on Friday, May 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $45.55.
Shares of Nimble Storage (NASDAQ:NMBL) opened at 26.45 on Monday. Nimble Storage has a 1-year low of $19.17 and a 1-year high of $58.00. The stock’s 50-day moving average is $29.16 and its 200-day moving average is $39.02. The company’s market cap is $1.891 billion.
Nimble Storage (NASDAQ:NMBL) last posted its quarterly earnings results 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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