Nimble Storage Given New $44.00 Price Target at Sterne Agee (NMBL)
Investment analysts at Sterne Agee increased their price target on shares of Nimble Storage (NASDAQ:NMBL) from $43.00 to $44.00 in a note issued to investors on Friday. The firm currently has a “buy” rating on the stock. Sterne Agee’s price objective points to a potential upside of 63.69% from the company’s current price.
NMBL has been the subject of a number of other recent research reports. Analysts at Piper Jaffray reiterated an “overweight” rating on shares of Nimble Storage in a research note on Friday. They now have a $47.00 price target on the stock, down previously from $50.00. Separately, analysts at Pacific Crest reiterated an “outperform” rating on shares of Nimble Storage in a research note on Friday. They now have a $42.00 price target on the stock, down previously from $62.00. Finally, analysts at ING Group reiterated a “strong-buy” rating on shares of Nimble Storage in a research note on Friday. They now have a $35.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $39.07.
Shares of Nimble Storage (NASDAQ:NMBL) traded down 6.12% during mid-day trading on Friday, hitting $25.235. 2,907,984 shares of the company’s stock traded hands. Nimble Storage has a 52-week low of $19.17 and a 52-week high of $58.00. The stock has a 50-day moving average of $27.17 and a 200-day moving average of $38.1. The company’s market cap is $1.804 billion.
Nimble Storage (NASDAQ:NMBL) last announced its earnings results on Thursday, May 29th. 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 $46.50 million for the quarter, compared to the consensus estimate of $43.70 million. Nimble Storage’s revenue was up 110.4% compared to the same quarter last year. On average, analysts predict that Nimble Storage will post $-0.59 earnings per share 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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