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Nimble Storage (NASDAQ:NMBL) was upgraded by Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research note issued on Wednesday, reports. The firm currently has a $38.00 price objective on the stock. Morgan Stanley’s target price points to a potential upside of 36.30% from the company’s current price.

Nimble Storage (NASDAQ:NMBL) opened at 27.88 on Wednesday. Nimble Storage has a 52 week low of $19.17 and a 52 week high of $58.00. The stock has a 50-day moving average of $24.9 and a 200-day moving average of $36.88. The company’s market cap is $1.993 billion.

Nimble Storage (NASDAQ:NMBL) last issued its quarterly earnings data 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.

In other Nimble Storage news, CTO Umesh Maheshwari unloaded 26,000 shares of Nimble Storage stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $26.50, for a total value of $689,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Several other analysts have also recently commented on the stock. Analysts at Macquarie upgraded shares of Nimble Storage from a “neutral” rating to an “outperform” rating in a research note on Monday. Separately, analysts at Raymond James upgraded shares of Nimble Storage from a “market perform” rating to a “strong-buy” rating in a research note on Friday, June 13th. They now have a $33.00 price target on the stock. Finally, analysts at Goldman Sachs reiterated a “buy” rating on shares of Nimble Storage in a research note on Thursday, June 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $39.07.

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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