Nimble Storage Inc. (NMBL) Rating Reiterated by Wells Fargo & Co.
Nimble Storage Inc. (NYSE:NMBL)‘s stock had its “outperform” rating restated by equities researchers at Wells Fargo & Co. in a research note issued to investors on Saturday. They currently have a $10.50 price objective on the stock. Wells Fargo & Co.’s price objective would indicate a potential upside of 35.83% from the company’s previous close.
A number of other equities research analysts have also commented on NMBL. Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of Nimble Storage in a report on Saturday, October 1st. Susquehanna reiterated a “positive” rating and set a $12.00 price target on shares of Nimble Storage in a report on Friday. Piper Jaffray Cos. reiterated a “neutral” rating and set a $9.00 price target on shares of Nimble Storage in a report on Thursday, August 25th. Pacific Crest reiterated a “hold” rating on shares of Nimble Storage in a report on Wednesday, August 24th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $12.00 price target on shares of Nimble Storage in a report on Friday. Fourteen analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $11.94.
Nimble Storage (NYSE:NMBL) opened at 7.73 on Friday. The stock’s 50 day moving average is $8.15 and its 200-day moving average is $8.01. The company’s market capitalization 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 results on Tuesday, November 22nd. The company reported ($0.18) EPS for the quarter, meeting the Zacks’ 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 company earned $102 million during the quarter, compared to analyst estimates of $101.99 million. During the same period in the prior year, the business posted ($0.14) EPS. The firm’s revenue was up 26.4% compared to the same quarter last year. On average, analysts expect that Nimble Storage will post ($0.73) EPS for the current year.
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In other news, Director Ping Li sold 23,000 shares of the stock in a transaction that occurred 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 transaction, the director now owns 35,676 shares in the company, valued at approximately $307,527.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jerry M. Kennelly sold 5,000 shares of the stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $8.17, for a total transaction of $40,850.00. Following the completion of the transaction, the director now owns 38,456 shares in the company, valued at approximately $314,185.52. The disclosure for this sale can be found here. Company insiders own 20.90% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. TFS Capital LLC acquired a new position in shares of Nimble Storage during the second quarter valued at $105,000. Stevens Capital Management LP acquired a new position in shares of Nimble Storage during the second quarter valued at $117,000. BlackRock Group LTD boosted its position in shares of Nimble Storage by 4.2% in the third quarter. BlackRock Group LTD now owns 14,188 shares of the company’s stock valued at $125,000 after buying an additional 567 shares during the period. Raymond James & Associates boosted its position in shares of Nimble Storage by 37.3% in the second quarter. Raymond James & Associates now owns 15,853 shares of the company’s stock valued at $126,000 after buying an additional 4,306 shares during the period. Finally, CIBC World Markets Inc. boosted its position 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. 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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