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Analysts at Oppenheimer cut their price target on shares of Nimble Storage (NASDAQ:NMBL) from $63.00 to $40.00 in a research report issued to clients and investors on Friday. The firm currently has an “outperform” rating on the stock. Oppenheimer’s target price indicates a potential upside of 48.81% from the company’s current price.

A number of other firms have also recently commented on NMBL. Analysts at Macquarie initiated coverage on shares of Nimble Storage in a research note on Wednesday. They set a “neutral” rating and a $30.00 price target on the stock. Separately, analysts at DA Davidson reiterated an “underperform” rating on shares of Nimble Storage in a research note on Monday. They now have a $22.00 price target on the stock. Finally, analysts at Wunderlich upgraded shares of Nimble Storage from a “hold” rating to a “buy” rating in a research note on Wednesday, May 21st. They now have a $38.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $42.33.

Nimble Storage (NASDAQ:NMBL) opened at 26.88 on Friday. Nimble Storage has a 52-week low of $19.17 and a 52-week high of $58.00. The stock’s 50-day moving average is $27.17 and its 200-day moving average is $38.1. The company’s market cap is $1.921 billion.

Nimble Storage (NASDAQ:NMBL) last posted its quarterly earnings results on Thursday, May 29th. 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 $46.50 million for the quarter, compared to the consensus estimate of $43.70 million. The company’s revenue for the quarter was up 110.4% on a year-over-year basis. 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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