Nimble Storage Inc. (NYSE:NMBL)‘s stock had its “sector perform” rating reiterated by stock analysts at RBC Capital Markets in a note issued to investors on Saturday. They presently have a $10.00 price target on the stock. RBC Capital Markets’ price objective would indicate a potential upside of 29.37% from the company’s current price.

Several other research firms also recently commented on NMBL. Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of Nimble Storage in a research note on Tuesday. Zacks Investment Research upgraded shares of Nimble Storage from a “sell” rating to a “hold” rating in a research note on Tuesday. Pacific Crest reiterated a “hold” rating on shares of Nimble Storage in a research note on Wednesday, August 24th. Jefferies Group lifted their price objective on shares of Nimble Storage from $13.50 to $14.00 and gave the stock a “buy” 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. Fifteen investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Nimble Storage presently has an average rating of “Buy” and a consensus target price of $11.94.

Analyst Recommendations for Nimble Storage (NYSE:NMBL)

Shares of Nimble Storage (NYSE:NMBL) traded down 0.51% during midday trading on Friday, reaching $7.73. The company’s stock had a trading volume of 1,257,918 shares. The company’s 50-day moving average price is $8.15 and its 200-day moving average price is $8.01. The company’s market cap is $657.82 million. Nimble Storage has a 12 month low of $5.64 and a 12 month high of $11.33.

Nimble Storage (NYSE:NMBL) last posted its quarterly earnings data on Tuesday, November 22nd. The company reported ($0.18) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.18). Nimble Storage had a negative net margin of 41.08% and a negative return on equity of 109.02%. The business earned $102 million during the quarter, compared to the consensus estimate of $101.99 million. During the same period in the previous year, the firm posted ($0.14) earnings per share. The business’s revenue for the quarter was up 26.4% compared to the same quarter last year. On average, equities analysts anticipate that Nimble Storage will post ($0.73) EPS for the current fiscal year.

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In related news, Director Jerry M. Kennelly sold 5,000 shares of the company’s stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $8.17, for a total transaction of $40,850.00. Following the completion of 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 SEC, which can be accessed through this hyperlink. Also, CFO Anup V. Singh sold 16,479 shares of the company’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $7.72, for a total transaction of $127,217.88. Following the sale, the chief financial officer now directly owns 286,131 shares of the company’s stock, valued at approximately $2,208,931.32. The disclosure for this sale can be found here. Corporate insiders own 20.90% of the company’s stock.

A number of hedge funds have recently made changes to their positions in NMBL. Vanguard Group Inc. boosted its stake in shares of Nimble Storage by 13.2% in the second quarter. Vanguard Group Inc. now owns 4,147,386 shares of the company’s stock valued at $33,013,000 after buying an additional 482,263 shares in the last quarter. Polar Capital LLP boosted its stake in shares of Nimble Storage by 22.9% in the second quarter. Polar Capital LLP now owns 2,394,557 shares of the company’s stock valued at $19,050,000 after buying an additional 446,236 shares in the last quarter. BlackRock Fund Advisors boosted its stake in shares of Nimble Storage by 6.2% in the third quarter. BlackRock Fund Advisors now owns 1,602,928 shares of the company’s stock valued at $14,154,000 after buying an additional 93,563 shares in the last quarter. Retirement Systems of Alabama boosted its stake in shares of Nimble Storage by 5.0% in the second quarter. Retirement Systems of Alabama now owns 1,590,000 shares of the company’s stock valued at $12,656,000 after buying an additional 75,000 shares in the last quarter. Finally, Quentec Asset Management LLC boosted its stake in shares of Nimble Storage by 35.7% in the third quarter. Quentec Asset Management LLC now owns 1,506,499 shares of the company’s stock valued at $13,302,000 after buying an additional 396,439 shares in the last quarter. 59.94% of the stock is 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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