Nimble Storage Inc (NMBL) Updates Q3 Earnings Guidance
Nimble Storage Inc (NASDAQ:NMBL) updated its third quarter earnings guidance on Tuesday. The company provided earnings per share guidance of ($0.17)-($0.16) for the period, compared to the Thomson Reuters consensus earnings per share estimate of ($0.16), Stock Ratings Network.com reports. The company issued revenue guidance of $56-58 million, compared to the consensus revenue estimate of $55.04 million.
NMBL has been the subject of a number of recent research reports. Analysts at Wells Fargo & Co. initiated coverage on shares of Nimble Storage in a research note on Friday, August 8th. They set an outperform rating and a $33.00 price target on the stock. On a related note, analysts at Pacific Crest raised their price target on shares of Nimble Storage from $42.00 to $44.00 in a research note on Monday, July 21st. Finally, analysts at Roth Capital initiated coverage on shares of Nimble Storage in a research note on Friday, July 18th. They set a buy rating and a $40.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $38.88.
Shares of Nimble Storage Inc (NASDAQ:NMBL) traded up 0.34% during mid-day trading on Tuesday, hitting $29.58. 1,138,465 shares of the company’s stock traded hands. Nimble Storage Inc has a 1-year low of $19.17 and a 1-year high of $58.00. The stock’s 50-day moving average is $27.03 and its 200-day moving average is $32.44. The company’s market cap is $2.114 billion.
Nimble Storage (NASDAQ:NMBL) last released its earnings data on Tuesday, August 26th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.01. The company had revenue of $53.80 million for the quarter, compared to the consensus estimate of $50.54 million. During the same quarter in the previous year, the company posted ($0.51) earnings per share. The company’s revenue for the quarter was up 86.9% on a year-over-year basis. On average, analysts predict that Nimble Storage Inc will post $-0.58 earnings per share for the current fiscal year.
In other Nimble Storage news, CTO Umesh Maheshwari unloaded 32,000 shares of the company’s stock on the open market in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $28.72, for a total transaction of $919,040.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
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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