Needham & Company LLC Cuts Tintri, Inc. (TNTR) Price Target to $10.00
Tintri, Inc. (NASDAQ:TNTR) had its target price cut by investment analysts at Needham & Company LLC from $15.00 to $10.00 in a report issued on Friday. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s target price would indicate a potential upside of 49.70% from the company’s current price.
Several other analysts have also issued reports on the company. William Blair lowered Tintri from an “outperform” rating to a “market perform” rating in a research note on Friday. Bank of America Corporation lowered Tintri from a “buy” rating to a “neutral” rating and set a $16.00 price objective on the stock. in a research note on Friday. Piper Jaffray Companies restated a “hold” rating and issued a $6.50 price objective on shares of Tintri in a research note on Friday. Morgan Stanley lowered Tintri from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $10.00 to $6.00 in a research note on Wednesday, August 23rd. Finally, Raymond James Financial, Inc. began coverage on Tintri in a research note on Tuesday, July 25th. They issued an “outperform” rating and a $9.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Tintri currently has an average rating of “Hold” and a consensus target price of $9.42.
Shares of Tintri (TNTR) opened at 6.68 on Friday. The firm has a 50-day moving average price of $8.22 and a 200-day moving average price of $7.80. Tintri has a 12-month low of $6.25 and a 12-month high of $9.80. The firm’s market cap is $206.49 million.
Tintri (NASDAQ:TNTR) last released its quarterly earnings data on Thursday, September 7th. The company reported ($2.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.97) by $0.08. The business had revenue of $34.87 million during the quarter, compared to analysts’ expectations of $35.68 million. The business’s revenue for the quarter was up 26.5% on a year-over-year basis. Equities research analysts anticipate that Tintri will post ($3.51) EPS for the current year.
In other news, Director Christopher J. Schaepe bought 597,858 shares of the firm’s stock in a transaction dated Thursday, July 6th. The shares were bought at an average price of $7.00 per share, with a total value of $4,185,006.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Enterprise Associates 12 New bought 926,429 shares of the firm’s stock in a transaction dated Thursday, July 6th. The stock was purchased at an average cost of $7.00 per share, for a total transaction of $6,485,003.00. The disclosure for this purchase can be found here.
Institutional investors have recently bought and sold shares of the company. Legal & General Group Plc acquired a new position in shares of Tintri in the second quarter valued at approximately $146,000. Goldman Sachs Group Inc. acquired a new position in shares of Tintri in the second quarter valued at approximately $619,000. UBS Oconnor LLC acquired a new position in shares of Tintri in the second quarter valued at approximately $1,454,000. Federated Investors Inc. PA acquired a new position in shares of Tintri in the second quarter valued at approximately $2,181,000. Finally, Laurion Capital Management LP acquired a new position in shares of Tintri in the second quarter valued at approximately $2,181,000. 51.23% of the stock is currently owned by institutional investors.
Tintri Company Profile
Tintri, Inc is a United States-based company. The Company is engaged in the business of storage management solutions. The Company offers a range of products, including Tintri all-flash array, Tintri hybrid-flash array, Tintri Global Center (TGC), Tintri Analytics, Tintri Storage Software. The Company’s solutions include cloud, desktops, database system and servers, Data protection and disaster recovery and DevOps.
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