Tintri, Inc. (TNTR) Stock Rating Lowered by Bank of America Corporation
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.
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.
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