Tintri, Inc. (TNTR) Downgraded by William Blair
Tintri, Inc. (NASDAQ:TNTR) was downgraded by equities research analysts at William Blair from an “outperform” rating to a “market perform” rating in a research note issued to investors on Friday, Marketbeat Ratings reports.
A number of other research firms have also recently commented on TNTR. Raymond James Financial, Inc. initiated coverage on shares of Tintri in a research note on Tuesday, July 25th. They set an “outperform” rating and a $9.00 target price on the stock. Morgan Stanley cut shares of Tintri from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $10.00 to $6.00 in a research note on Wednesday, August 23rd. KeyCorp initiated coverage on shares of Tintri in a research note on Tuesday, July 25th. They set an “overweight” rating and a $9.00 target price on the stock. Piper Jaffray Companies restated a “hold” rating and set a $8.50 target price on shares of Tintri in a research note on Friday, September 1st. Finally, Needham & Company LLC initiated coverage on shares of Tintri in a research note on Tuesday, July 25th. They set a “buy” rating and a $15.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Tintri presently has a consensus rating of “Hold” and a consensus target price of $9.17.
Shares of Tintri (TNTR) traded down 31.89% during trading on Friday, reaching $4.55. 2,128,562 shares of the company traded hands. The company’s market capitalization is $140.65 million. Tintri has a 52 week low of $4.32 and a 52 week high of $9.80. The company’s 50-day moving average price is $8.22 and its 200-day moving average price is $7.80.
Tintri (NASDAQ:TNTR) last released its earnings results on Thursday, September 7th. The company reported ($2.05) EPS for the quarter, missing analysts’ consensus estimates of ($1.97) by $0.08. The business had revenue of $34.87 million for the quarter, compared to the consensus estimate of $35.68 million. The company’s revenue was up 26.5% on a year-over-year basis. Equities research analysts forecast that Tintri will post ($3.51) EPS for the current fiscal year.
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In related news, major shareholder Enterprise Associates 12 New acquired 926,429 shares of the business’s stock in a transaction on Thursday, July 6th. The stock was acquired at an average cost of $7.00 per share, with a total value of $6,485,003.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Christopher J. Schaepe acquired 597,858 shares of the business’s stock in a transaction on Thursday, July 6th. The shares were bought at an average cost of $7.00 per share, with a total value of $4,185,006.00. The disclosure for this purchase can be found here.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Legal & General Group Plc purchased a new stake in Tintri during the 2nd quarter valued at approximately $146,000. Goldman Sachs Group Inc. purchased a new stake in Tintri during the 2nd quarter valued at approximately $619,000. UBS Oconnor LLC purchased a new stake in Tintri during the 2nd quarter valued at approximately $1,454,000. Federated Investors Inc. PA purchased a new stake in Tintri during the 2nd quarter valued at approximately $2,181,000. Finally, Laurion Capital Management LP purchased a new stake in Tintri during the 2nd quarter valued at approximately $2,181,000. 51.23% of the stock is owned by institutional investors and hedge funds.
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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