Nimble Storage Inc. (NMBL) Upgraded to “Outperform” by Wells Fargo & Co.
Several other equities analysts also recently commented on NMBL. Summit Redstone restated a buy rating on shares of Nimble Storage in a research note on Sunday, June 26th. BMO Capital Markets upgraded shares of Nimble Storage from a market perform rating to an outperform rating and increased their price objective for the stock from $9.00 to $10.00 in a research note on Wednesday, August 3rd. BTIG Research reiterated a neutral rating on shares of Nimble Storage in a research note on Wednesday, August 24th. Morgan Stanley increased their price objective on shares of Nimble Storage from $6.00 to $18.00 and gave the stock an overweight rating in a research note on Wednesday, August 24th. Finally, Barclays PLC reiterated an equal weight rating and set a $10.00 price objective (up from $9.00) on shares of Nimble Storage in a research note on Wednesday, August 24th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Nimble Storage has an average rating of Hold and an average price target of $14.17.
Shares of Nimble Storage (NYSE:NMBL) traded down 2.26% during midday trading on Wednesday, hitting $8.23. 176,288 shares of the stock traded hands. The company’s market capitalization is $700.36 million. Nimble Storage has a 52 week low of $5.64 and a 52 week high of $24.17. The firm’s 50-day moving average is $8.24 and its 200 day moving average is $7.89.
Nimble Storage (NYSE:NMBL) last released its quarterly earnings results on Tuesday, August 23rd. The company reported ($0.19) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.20) by $0.01. Nimble Storage had a negative net margin of 40.53% and a negative return on equity of 97.66%. The business had revenue of $97.10 million for the quarter, compared to the consensus estimate of $94.71 million. During the same period in the prior year, the company posted ($0.10) earnings per share. Nimble Storage’s revenue was up 21.2% compared to the same quarter last year. Equities analysts forecast that Nimble Storage will post ($0.72) earnings per share for the current year.
In related news, Director Ping Li sold 23,000 shares of the company’s stock in a transaction on Tuesday, October 4th. The stock was sold at an average price of $8.62, for a total value of $198,260.00. Following the sale, the director now directly owns 35,676 shares of the company’s stock, valued at $307,527.12. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director William John Schroeder purchased 5,000 shares of Nimble Storage stock in a transaction that occurred on Wednesday, September 21st. The stock was purchased at an average cost of $7.30 per share, for a total transaction of $36,500.00. Following the completion of the purchase, the director now owns 46,870 shares of the company’s stock, valued at $342,151. The disclosure for this purchase can be found here. Corporate insiders own 20.90% of the company’s stock.
A number of large investors have recently modified their holdings of NMBL. Creative Planning boosted its stake in Nimble Storage by 20.8% in the third quarter. Creative Planning now owns 18,373 shares of the company’s stock worth $162,000 after buying an additional 3,164 shares in the last quarter. Gradient Investments LLC bought a new stake in Nimble Storage during the third quarter worth approximately $394,000. Schwab Charles Investment Management Inc. boosted its stake in Nimble Storage by 10.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 178,691 shares of the company’s stock worth $1,423,000 after buying an additional 17,562 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its stake in Nimble Storage by 31.0% in the second quarter. Metropolitan Life Insurance Co. NY now owns 46,425 shares of the company’s stock worth $370,000 after buying an additional 10,992 shares in the last quarter. Finally, Quentec Asset Management LLC boosted its stake in Nimble Storage by 5.9% in the second quarter. Quentec Asset Management LLC now owns 1,110,060 shares of the company’s stock worth $8,836,000 after buying an additional 61,938 shares in the last quarter. 61.23% of the stock is currently owned by institutional investors.
Nimble Storage Company Profile
Nimble Storage, Inc (Nimble Storage) engineers and delivers its customers with flash storage platform. The Company’s Predictive Flash platform consists of a Unified Flash Fabric that provides a single consolidation architecture with common data services across a portfolio of All Flash and Adaptive Flash arrays, and InfoSight predictive analytics with integrated support and service offerings.
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