Nimble Storage Inc. (NMBL) Earns Market Perform Rating from William Blair
Other equities research analysts have also recently issued research reports about the company. Oppenheimer Holdings Inc. reaffirmed a hold rating on shares of Nimble Storage in a report on Saturday, October 1st. Susquehanna reaffirmed a positive rating and issued a $12.00 price target on shares of Nimble Storage in a report on Friday. Needham & Company LLC reaffirmed a buy rating and issued a $12.00 price target on shares of Nimble Storage in a report on Friday. BMO Capital Markets reaffirmed an outperform rating and issued a $12.00 price target (down previously from $13.00) on shares of Nimble Storage in a report on Wednesday. Finally, Wells Fargo & Co. reaffirmed an outperform rating and issued a $10.50 price target on shares of Nimble Storage in a report on Saturday. Fourteen analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of Buy and an average target price of $11.94.
Nimble Storage (NYSE:NMBL) opened at 7.73 on Friday. The company’s market capitalization is $657.82 million. The stock has a 50 day moving average price of $8.15 and a 200 day moving average price of $8.01. Nimble Storage has a 52-week low of $5.64 and a 52-week high of $11.33.
Nimble Storage (NYSE:NMBL) last posted its quarterly earnings results on Tuesday, November 22nd. The company reported ($0.18) EPS for the quarter, meeting 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 firm earned $102 million during the quarter, compared to analysts’ expectations of $101.99 million. During the same quarter last year, the firm earned ($0.14) earnings per share. The business’s revenue for the quarter was up 26.4% on a year-over-year basis. On average, equities analysts expect that Nimble Storage will post ($0.73) earnings per share for the current year.
In related news, Director William John Schroeder bought 5,000 shares of the firm’s 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 acquisition, the director now owns 46,870 shares in the company, valued at approximately $342,151. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ping Li sold 23,000 shares of Nimble Storage stock in a transaction on Tuesday, October 4th. The shares were sold at an average price of $8.62, for a total value of $198,260.00. Following the completion of the transaction, the director now owns 35,676 shares of the company’s stock, valued at $307,527.12. The disclosure for this sale can be found here. 20.90% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. UBS Asset Management Americas Inc. raised its position in Nimble Storage by 11.9% in the second quarter. UBS Asset Management Americas Inc. now owns 28,300 shares of the company’s stock worth $225,000 after buying an additional 3,000 shares during the period. Nationwide Fund Advisors boosted its stake in Nimble Storage by 24.4% in the second quarter. Nationwide Fund Advisors now owns 40,812 shares of the company’s stock worth $325,000 after buying an additional 7,999 shares in the last quarter. Royce & Associates LP acquired a new stake in Nimble Storage during the second quarter worth $342,000. State Board of Administration of Florida Retirement System boosted its stake in Nimble Storage by 5.3% in the second quarter. State Board of Administration of Florida Retirement System now owns 22,990 shares of the company’s stock worth $183,000 after buying an additional 1,155 shares in the last quarter. Finally, California Public Employees Retirement System boosted its stake in Nimble Storage by 895.3% in the second quarter. California Public Employees Retirement System now owns 320,000 shares of the company’s stock worth $2,547,000 after buying an additional 287,850 shares in the last quarter. Hedge funds and other institutional investors own 59.94% of the company’s stock.
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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