Nimble Storage Inc. (NMBL) Receives Consensus Recommendation of “Hold” from Brokerages
Shares of Nimble Storage Inc. (NYSE:NMBL) have been given a consensus recommendation of “Hold” by the thirty analysts that are presently covering the stock. One equities research analyst has rated the stock with a sell recommendation, sixteen have given a hold recommendation, twelve have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $13.59.
Several research firms recently issued reports on NMBL. Summit Redstone reaffirmed a “buy” rating on shares of Nimble Storage in a research report on Sunday, June 26th. Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of Nimble Storage in a research report on Saturday, October 1st. Jefferies Group lifted their price target 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. Pacific Crest reaffirmed a “hold” rating on shares of Nimble Storage in a research report on Wednesday, August 24th. Finally, Barclays PLC reaffirmed an “equal weight” rating and set a $10.00 price target (up from $9.00) on shares of Nimble Storage in a research report on Wednesday, August 24th.
Nimble Storage (NYSE:NMBL) traded up 0.75% during mid-day trading on Wednesday, reaching $8.09. 250,601 shares of the company’s stock were exchanged. The company’s market capitalization is $688.45 million. The company’s 50 day moving average price is $8.18 and its 200-day moving average price is $7.91. Nimble Storage has a 52 week low of $5.64 and a 52 week high of $23.64.
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Nimble Storage (NYSE:NMBL) last released its earnings results on Tuesday, August 23rd. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.20) by $0.01. Nimble Storage had a negative net margin of 40.53% and a negative return on equity of 97.66%. The business had revenue of $97.10 million for the quarter, compared to analysts’ expectations of $94.71 million. During the same period last year, the company earned ($0.10) earnings per share. The company’s quarterly revenue was up 21.2% on a year-over-year basis. On average, equities research analysts expect that Nimble Storage will post ($0.72) earnings per share for the current fiscal year.
In related news, CEO Suresh Vasudevan sold 22,773 shares of the company’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $7.76, for a total value of $176,718.48. Following the completion of the sale, the chief executive officer now owns 1,048,972 shares of the company’s stock, valued at $8,140,022.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ping Li sold 23,000 shares of the company’s stock in a transaction dated Tuesday, October 4th. The stock was sold at an average price of $8.62, for a total transaction of $198,260.00. Following the completion of the sale, the director now directly owns 35,676 shares of the company’s stock, valued at approximately $307,527.12. The disclosure for this sale can be found here. 20.90% of the stock is currently owned by corporate insiders.
A number of large investors have recently bought and sold shares of NMBL. FNY Managed Accounts LLC bought a new stake in Nimble Storage during the third quarter valued at $355,000. Creative Planning increased its stake in Nimble Storage by 20.8% in the third quarter. Creative Planning now owns 18,373 shares of the company’s stock valued at $162,000 after buying an additional 3,164 shares during the last quarter. Gradient Investments LLC bought a new stake in Nimble Storage during the third quarter valued at $394,000. Schwab Charles Investment Management Inc. increased its stake in Nimble Storage by 10.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 178,691 shares of the company’s stock valued at $1,423,000 after buying an additional 17,562 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY increased its stake in Nimble Storage by 31.0% in the second quarter. Metropolitan Life Insurance Co. NY now owns 46,425 shares of the company’s stock valued at $370,000 after buying an additional 10,992 shares during the last quarter. 61.34% of the stock is owned by institutional investors and hedge funds.
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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