Nimble Storage Given “Overweight” Rating at Piper Jaffray (NMBL)
Nimble Storage (NASDAQ:NMBL)‘s stock had its “overweight” rating restated by equities research analysts at Piper Jaffray in a research note issued to investors on Friday. They currently have a $47.00 price target on the stock, down from their previous price target of $50.00. Piper Jaffray’s price objective points to a potential upside of 74.85% from the stock’s previous close.
NMBL has been the subject of a number of other recent research reports. 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. Separately, 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. Finally, analysts at Stifel Nicolaus cut their price target on shares of Nimble Storage from $60.00 to $40.00 in a research note on Friday. They now have a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $39.07.
Shares of Nimble Storage (NASDAQ:NMBL) traded down 6.12% on Friday, hitting $25.235. 2,908,184 shares of the company’s stock traded hands. 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 $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) EPS for the quarter, beating the Thomson Reuters 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. The company’s quarterly revenue was up 110.4% on a year-over-year basis. 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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