Nimble Storage Receives Equal Weight Rating from Barclays (NMBL)
Nimble Storage (NASDAQ:NMBL)‘s stock had its “equal weight” rating reissued by equities research analysts at Barclays in a research note issued to investors on Wednesday. They currently have a $30.00 target price on the stock, up from their previous target price of $28.00. Barclays’ price target indicates a potential upside of 1.42% from the company’s current price.
Shares of Nimble Storage (NASDAQ:NMBL) traded up 1.89% on Wednesday, hitting $30.1399. The stock had a trading volume of 1,090,440 shares. 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 $27.05 and a 200-day moving average of $32.33. The company’s market cap is $2.154 billion.
Nimble Storage (NASDAQ:NMBL) last announced its earnings results on Tuesday, August 26th. The company reported ($0.15) earnings per share for the quarter, beating the analysts’ 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. Analysts expect that Nimble Storage will post $-0.58 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on NMBL. Analysts at Needham & Company LLC raised their price target on shares of Nimble Storage from $35.00 to $36.00 in a research note on Wednesday. They now have a “strong-buy” rating on the stock. Separately, 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. Finally, 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. One analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $39.06.
In other Nimble Storage news, CTO Umesh Maheshwari unloaded 32,000 shares of the stock on the open market in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $28.72, for a total transaction of $919,040.00. The transaction was disclosed in a filing with the SEC, 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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