Nimble Storage Inc. (NMBL) Given Consensus Recommendation of “Buy” by Brokerages
Nimble Storage Inc. (NYSE:NMBL) has received a consensus recommendation of “Buy” from the twenty-seven brokerages that are currently covering the firm. Fourteen analysts have rated the stock with a hold recommendation, twelve have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $12.19.
Several research analysts have recently commented on the company. Oppenheimer Holdings Inc. restated a “hold” rating on shares of Nimble Storage in a research report on Saturday, October 1st. BMO Capital Markets lowered their price target on Nimble Storage from $13.00 to $12.00 and set an “outperform” rating for the company in a research report on Wednesday. Jefferies Group increased their price objective on Nimble Storage from $13.50 to $14.00 and gave the company a “buy” rating in a research note on Wednesday, August 24th. Barclays PLC reiterated an “equal weight” rating on shares of Nimble Storage in a research note on Tuesday, November 8th. Finally, Pacific Crest reiterated a “hold” rating on shares of Nimble Storage in a research note on Wednesday, August 24th.
Shares of Nimble Storage (NYSE:NMBL) traded down 0.51% on Friday, reaching $7.73. The company had a trading volume of 1,257,743 shares. Nimble Storage has a 12 month low of $5.64 and a 12 month high of $11.33. The firm’s market capitalization is $657.82 million. The firm’s 50 day moving average is $8.21 and its 200 day moving average is $8.00.
Nimble Storage (NYSE:NMBL) last released its quarterly earnings results on Tuesday, November 22nd. The company reported ($0.18) EPS for the quarter, hitting the consensus estimate of ($0.18). Nimble Storage had a negative return on equity of 109.02% and a negative net margin of 41.08%. The business earned $102 million during the quarter, compared to analyst estimates of $101.99 million. During the same period last year, the business posted ($0.14) earnings per share. The company’s quarterly revenue was up 26.4% on a year-over-year basis. On average, equities research analysts expect that Nimble Storage will post ($0.73) earnings per share for the current fiscal year.
In other Nimble Storage news, Director Jerry M. Kennelly sold 5,000 shares of Nimble Storage stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $8.17, for a total value of $40,850.00. Following the sale, the director now owns 38,456 shares of the company’s stock, valued at approximately $314,185.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Varun Mehta sold 13,282 shares of Nimble Storage stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $7.79, for a total value of $103,466.78. Following the completion of the sale, the vice president now directly owns 377,936 shares in the company, valued at approximately $2,944,121.44. The disclosure for this sale can be found here. 20.90% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the stock. Quantum Capital Management acquired a new stake in shares of Nimble Storage during the first quarter worth $105,000. Boulegeris Investments Inc. raised its stake in shares of Nimble Storage by 21.2% in the second quarter. Boulegeris Investments Inc. now owns 132,361 shares of the company’s stock valued at $1,054,000 after buying an additional 23,186 shares during the period. NN Investment Partners Holdings N.V. purchased a new stake in shares of Nimble Storage during the second quarter valued at approximately $559,000. CIBC World Markets Inc. raised its stake in shares of Nimble Storage by 13.5% in the second quarter. CIBC World Markets Inc. now owns 17,250 shares of the company’s stock valued at $137,000 after buying an additional 2,050 shares during the period. Finally, Bank of Montreal Can purchased a new stake in shares of Nimble Storage during the second quarter valued at approximately $218,000. 59.94% of the stock is currently owned by institutional investors.
About Nimble Storage
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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