Nimble Storage Inc. (NMBL) Upgraded to Outperform at Wells Fargo & Co.
Nimble Storage Inc. (NYSE:NMBL) was upgraded by analysts at Wells Fargo & Co. from a “market perform” rating to an “outperform” rating in a research report issued on Wednesday.
Several other equities analysts have also commented on the stock. BMO Capital Markets upgraded shares of Nimble Storage from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $9.00 to $10.00 in a research report on Wednesday, August 3rd. Morgan Stanley increased their target price on shares of Nimble Storage from $6.00 to $18.00 and gave the company an “overweight” rating in a research report on Wednesday, August 24th. Jefferies Group increased their target price on shares of Nimble Storage from $13.50 to $14.00 and gave the company a “buy” rating in a research report on Wednesday, August 24th. RBC Capital Markets reiterated a “sector perform” rating and issued a $10.00 target price (up previously from $8.00) on shares of Nimble Storage in a research report on Wednesday, August 24th. Finally, Zacks Investment Research lowered shares of Nimble Storage from a “hold” rating to a “sell” rating in a research report on Saturday, August 27th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $14.17.
Nimble Storage (NYSE:NMBL) opened at 8.64 on Wednesday. The stock’s market capitalization is $735.26 million. Nimble Storage has a 12 month low of $5.64 and a 12 month high of $24.14. The firm’s 50-day moving average is $8.25 and its 200 day moving average is $7.88.
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Nimble Storage (NYSE:NMBL) last released its quarterly earnings results on Tuesday, August 23rd. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.01. The business earned $97.10 million during the quarter, compared to analyst estimates of $94.71 million. Nimble Storage had a negative net margin of 40.53% and a negative return on equity of 97.66%. The company’s quarterly revenue was up 21.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.10) earnings per share. On average, equities analysts anticipate that Nimble Storage will post ($0.72) earnings per share for the current year.
In other news, CFO Anup V. Singh sold 16,479 shares of the firm’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $7.72, for a total value of $127,217.88. Following the sale, the chief financial officer now owns 286,131 shares in the company, valued at $2,208,931.32. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Jerry M. Kennelly sold 5,000 shares of the firm’s stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $8.17, for a total transaction of $40,850.00. Following the completion of the sale, the director now owns 38,456 shares in the company, valued at approximately $314,185.52. The disclosure for this sale can be found here. Company insiders own 20.90% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Quantum Capital Management bought a new stake in shares of Nimble Storage during the first quarter valued at about $105,000. TFS Capital LLC bought a new stake in shares of Nimble Storage during the second quarter valued at about $105,000. Stevens Capital Management LP bought a new stake in shares of Nimble Storage during the second quarter valued at about $117,000. CIBC World Markets Inc. bought a new stake in shares of Nimble Storage during the first quarter valued at about $119,000. Finally, Raymond James & Associates increased its stake in shares of Nimble Storage by 37.3% in the second quarter. Raymond James & Associates now owns 15,853 shares of the company’s stock valued at $126,000 after buying an additional 4,306 shares during the last quarter. Institutional investors and hedge funds own 61.23% of the company’s stock.
Nimble Storage Company Profile
Nimble Storage, Inc (Nimble Storage) engineers and delivers its customers with flash storage platform. The Company’s Predictive Flash platform consists of a Unified Flash Fabric that provides a single consolidation architecture with common data services across a portfolio of All Flash and Adaptive Flash arrays, and InfoSight predictive analytics with integrated support and service offerings.
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