Tintri, Inc. (NASDAQ:TNTR) was downgraded by equities researchers at Bank of America Corporation from a “buy” rating to a “neutral” rating in a research note issued to investors on Friday, MarketBeat Ratings reports. They currently have a $8.00 target price on the stock. Bank of America Corporation’s price target would suggest a potential upside of 75.82% from the company’s current price.

Several other research analysts have also recently weighed in on TNTR. Piper Jaffray Companies restated a “neutral” rating and issued a $6.50 price objective (down from $8.50) on shares of Tintri in a research report on Friday. Morgan Stanley cut shares of Tintri from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $10.00 to $6.00 in a research report on Wednesday, August 23rd. William Blair assumed coverage on shares of Tintri in a research report on Tuesday, July 25th. They issued an “outperform” rating on the stock. KeyCorp assumed coverage on shares of Tintri in a research report on Tuesday, July 25th. They issued an “overweight” rating and a $9.00 price objective on the stock. Finally, Needham & Company LLC assumed coverage on shares of Tintri in a research report on Tuesday, July 25th. They issued a “buy” rating and a $15.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $9.17.

Tintri (TNTR) traded down 31.89% during midday trading on Friday, hitting $4.55. 2,128,562 shares of the stock were exchanged. The company’s market capitalization is $140.65 million. The company’s 50 day moving average is $7.70 and its 200 day moving average is $7.50. Tintri has a 1-year low of $4.32 and a 1-year high of $9.80.

Tintri (NASDAQ:TNTR) last posted its quarterly earnings data on Thursday, September 7th. The company reported ($2.05) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.97) by $0.08. The company 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% compared to the same quarter last year. Analysts predict that Tintri will post ($3.51) earnings per share for the current fiscal year.

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In other Tintri news, major shareholder Enterprise Associates 12 New purchased 926,429 shares of Tintri stock in a transaction on Thursday, July 6th. The shares were acquired at an average cost of $7.00 per share, for a total transaction of $6,485,003.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Christopher J. Schaepe purchased 597,858 shares of Tintri stock in a transaction on Thursday, July 6th. The shares were acquired at an average price of $7.00 per share, for a total transaction of $4,185,006.00. The disclosure for this purchase can be found here.

A number of hedge funds and other institutional investors have recently modified their holdings of TNTR. NEA Management Company LLC bought a new position in Tintri during the second quarter valued at approximately $38,192,000. Insight Holdings Group LLC bought a new position in Tintri during the second quarter valued at approximately $38,786,000. Legal & General Group Plc bought a new position in Tintri during the second quarter valued at approximately $146,000. Federated Investors Inc. PA bought a new position in Tintri during the second quarter valued at approximately $2,181,000. Finally, OZ Management LP bought a new position in Tintri during the second quarter valued at approximately $3,612,000. Institutional investors and hedge funds own 51.23% of the company’s stock.

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.

Analyst Recommendations for Tintri (NASDAQ:TNTR)

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