Nimble Storage (NMBL) Posts Quarterly Results
Nimble Storage (NASDAQ:NMBL) posted its quarterly earnings results on Tuesday. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.01, AR Network reports. 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. Nimble Storage updated its Q3 guidance to ($0.17)-($0.16) EPS.
Several analysts have recently commented on the stock. 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 investment analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. Nimble Storage currently has an average rating of “Buy” and a consensus price target of $38.88.
In other Nimble Storage news, CTO Umesh Maheshwari sold 32,000 shares of Nimble Storage stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $28.72, for a total transaction of $919,040.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Nimble Storage (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 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 $27.03 and a 200-day moving average of $32.44. The company’s market cap is $2.114 billion.
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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