Tintri, Inc. (TNTR) Downgraded by UBS AG to Underperform
Tintri, Inc. (NASDAQ:TNTR) was downgraded by stock analysts at UBS AG from an “outperform” rating to an “underperform” rating in a research report issued on Wednesday, The Fly reports.
Several other equities research analysts have also issued reports on the stock. Morgan Stanley restated an “equal weight” rating and set a $4.50 price target (down previously from $6.00) on shares of Tintri in a research note on Friday, September 8th. Needham & Company LLC reduced their price objective on shares of Tintri from $15.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, September 8th. William Blair lowered shares of Tintri from an “outperform” rating to a “market perform” rating in a research note on Friday, September 8th. Bank of America Corporation lowered shares of Tintri from a “buy” rating to a “neutral” rating and set a $8.00 price objective for the company. in a research note on Friday, September 8th. Finally, Piper Jaffray Companies reiterated a “neutral” rating and issued a $6.50 price objective (down from $8.50) on shares of Tintri in a research note on Friday, September 8th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $8.67.
Tintri (NASDAQ TNTR) traded up 2.03% during trading on Wednesday, hitting $3.02. The stock had a trading volume of 693,776 shares. The firm has a 50 day moving average price of $6.00 and a 200-day moving average price of $6.26. The firm’s market capitalization is $94.60 million. Tintri has a 1-year low of $2.95 and a 1-year high of $9.80.
Tintri (NASDAQ:TNTR) last issued its quarterly earnings results on Thursday, September 7th. The company reported ($2.05) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.97) by ($0.08). The firm had revenue of $34.87 million for the quarter, compared to the consensus estimate of $35.68 million. The firm’s revenue for the quarter was up 26.5% on a year-over-year basis. On average, equities research analysts expect that Tintri will post ($3.48) EPS for the current year.
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In other news, major shareholder Enterprise Associates 12 New purchased 926,429 shares of the business’s stock in a transaction on Thursday, July 6th. The stock was purchased at an average cost of $7.00 per share, with a total value of $6,485,003.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Christopher J. Schaepe purchased 597,858 shares of the business’s stock in a transaction on Thursday, July 6th. The stock was purchased 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.
Large investors have recently made changes to their positions in the business. Legal & General Group Plc bought a new position in Tintri in the 2nd quarter valued at $146,000. Goldman Sachs Group Inc. bought a new position in Tintri in the 2nd quarter valued at $619,000. UBS Oconnor LLC bought a new position in Tintri in the 2nd quarter valued at $1,454,000. Federated Investors Inc. PA bought a new position in Tintri in the 2nd quarter valued at $2,181,000. Finally, Laurion Capital Management LP bought a new position in Tintri in the 2nd quarter valued at $2,181,000. 51.23% of the stock is owned by hedge funds and other institutional investors.
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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