Needham & Company LLC reaffirmed their buy rating on shares of Nimble Storage Inc. (NYSE:NMBL) in a report published on Friday. They currently have a $12.00 price target on the stock.

Other equities research analysts also recently issued research reports about the company. Wells Fargo & Co. raised Nimble Storage from a market perform rating to an outperform rating in a research report on Wednesday, October 12th. Zacks Investment Research downgraded Nimble Storage from a hold rating to a sell rating in a research report on Wednesday, October 26th. Morgan Stanley upped their target price on Nimble Storage from $6.00 to $18.00 and gave the stock an overweight rating in a research report on Wednesday, August 24th. Oppenheimer Holdings Inc. reaffirmed a hold rating on shares of Nimble Storage in a research report on Tuesday, November 22nd. Finally, Summit Redstone reaffirmed a buy rating and issued a $14.00 target price (up previously from $12.00) on shares of Nimble Storage in a research report on Thursday, August 25th. Fifteen research 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 price target of $11.94.

Nimble Storage (NYSE:NMBL) opened at 7.73 on Friday. The firm’s 50-day moving average price is $8.15 and its 200 day moving average price is $8.01. Nimble Storage has a 52-week low of $5.64 and a 52-week high of $11.33. The firm’s market cap is $657.82 million.

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

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In related news, Director Ping Li sold 23,000 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $307,527.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director William John Schroeder bought 5,000 shares of the stock in a transaction that occurred on Wednesday, September 21st. The stock was acquired at an average price of $7.30 per share, for a total transaction of $36,500.00. Following the completion of the transaction, the director now owns 46,870 shares in the company, valued at $342,151. The disclosure for this purchase can be found here. 20.90% of the stock is owned by corporate insiders.

Hedge funds have recently bought and sold shares of the stock. Friess Associates LLC acquired a new stake in Nimble Storage during the second quarter valued at approximately $4,856,000. Vanguard Group Inc. boosted its stake in 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 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. Quentec Asset Management LLC boosted its stake in 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. 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 valued at $2,547,000 after buying an additional 287,850 shares in the last quarter. Hedge funds and other institutional investors own 62.17% 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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