RBC Capital Lowers Nimble Storage Price Target to $45.00 (NMBL)
Investment analysts at RBC Capital lowered their target price on shares of Nimble Storage (NASDAQ:NMBL) from $56.00 to $45.00 in a note issued to investors on Friday. The firm currently has an “outperform” rating on the stock. RBC Capital’s target price suggests a potential upside of 67.41% from the company’s current price.
A number of other analysts have also recently weighed in on NMBL. Analysts at Oppenheimer cut their price target on shares of Nimble Storage from $63.00 to $40.00 in a research note on Friday. They now have an “outperform” rating on the stock. Separately, 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. Finally, 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. One research analyst has rated the stock with a sell rating, five have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $41.42.
Nimble Storage (NASDAQ:NMBL) opened at 26.88 on Friday. 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 $1.921 billion.
Nimble Storage (NASDAQ:NMBL) last released its earnings data 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. 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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