Nimble Storage PT Raised to $36.00 (NMBL)
Investment analysts at Needham & Company LLC raised their price objective on shares of Nimble Storage (NASDAQ:NMBL) from $35.00 to $36.00 in a note issued to investors on Wednesday. The firm currently has a “strong-buy” rating on the stock. Needham & Company LLC’s price target indicates a potential upside of 21.70% from the company’s current price.
A number of other firms have also recently commented on NMBL. 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. Separately, 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 given a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. Nimble Storage presently has a consensus rating of “Buy” and a consensus target price of $38.94.
In other Nimble Storage news, CTO Umesh Maheshwari unloaded 32,000 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $28.72, for a total value of $919,040.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of Nimble Storage (NASDAQ:NMBL) opened at 29.58 on Wednesday. Nimble Storage has a one year low of $19.17 and a one year high of $58.00. The stock’s 50-day moving average is $27.05 and its 200-day moving average is $32.33. 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) EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted ($0.51) earnings per share. The company’s quarterly revenue was up 86.9% on a year-over-year basis. 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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