Nimble Storage Now Covered by Barclays (NMBL)
Research analysts at Barclays initiated coverage on shares of Nimble Storage (NASDAQ:NMBL) in a report released on Tuesday. The firm set an “equal weight” rating and a $28.00 price target on the stock. Barclays’ price objective suggests a potential upside of 10.94% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Sterne Agee raised their price target on shares of Nimble Storage from $43.00 to $44.00 in a research note on Friday, May 30th. They now have a “buy” rating on the stock. Separately, analysts at Piper Jaffray reiterated an “overweight” rating on shares of Nimble Storage in a research note on Friday, May 30th. They now have a $47.00 price target on the stock, down previously from $50.00. Finally, analysts at Pacific Crest reiterated an “outperform” rating on shares of Nimble Storage in a research note on Friday, May 30th. They now have a $42.00 price target on the stock, down previously from $62.00. One analyst has rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Nimble Storage currently has an average rating of “Buy” and an average price target of $38.57.
Nimble Storage (NASDAQ:NMBL) traded down 2.34% on Tuesday, hitting $24.65. The stock had a trading volume of 403,769 shares. 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 $25.74 and its 200-day moving average is $37.40. The company’s market cap is $1.762 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 $-0.58 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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