Nimble Storage’s Lock-Up Period Set To End Tomorrow (NASDAQ:NMBL)
Nimble Storage’s (NASDAQ:NMBL) lock-up period will expire on Wednesday, June 11th. Nimble Storage had issued 8,000,000 shares in its IPO on December 13th, American Banking and Market News reports. The total size of the offering was $168,000,000 based on an initial share price of $21.00. After the end of Nimble Storage’s lock-up period, major shareholders and company insiders will be able to sell their shares of the company.
A number of research firms have recently commented on NMBL. Analysts at Barclays initiated coverage on shares of Nimble Storage in a research note on Tuesday. They set an “equal weight” rating and a $28.00 price target on the stock. Separately, 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. Finally, 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. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Nimble Storage currently has an average rating of “Buy” and an average price target of $38.57.
Shares of Nimble Storage (NASDAQ:NMBL) traded down 3.33% on Tuesday, hitting $24.40. 75,674 shares of the company’s stock traded hands. Nimble Storage has a one year low of $19.17 and a one year high of $58.00. The stock has a 50-day moving average of $25.74 and a 200-day moving average of $37.40. The company’s market cap is $1.744 billion.
Nimble Storage (NASDAQ:NMBL) last announced its 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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