Raymond James Financial Inc. Reaffirms “Market Perform” Rating for Nimble Storage Inc. (NMBL)
Nimble Storage Inc. (NYSE:NMBL)‘s stock had its “market perform” rating restated by investment analysts at Raymond James Financial Inc. in a report issued on Friday.
Several other analysts have also recently weighed in on NMBL. Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of Nimble Storage in a research report on Saturday, October 1st. Barclays PLC reaffirmed an “equal weight” rating and set a $10.00 price objective on shares of Nimble Storage in a research report on Saturday. William Blair reaffirmed a “market perform” rating on shares of Nimble Storage in a research report on Saturday. Piper Jaffray Cos. reaffirmed a “neutral” rating and set a $9.00 price objective on shares of Nimble Storage in a research report on Thursday, August 25th. Finally, Susquehanna set a $12.00 price objective on Nimble Storage and gave the company a “buy” rating in a research report on Friday. Fifteen investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $11.94.
Shares of Nimble Storage (NYSE:NMBL) opened at 7.73 on Friday. The stock’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. The company’s 50 day moving average price is $8.15 and its 200-day moving average price is $8.01.
Nimble Storage (NYSE:NMBL) last announced its quarterly earnings results on Tuesday, November 22nd. The company reported ($0.18) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.18). Nimble Storage had a negative return on equity of 109.02% and a negative net margin of 41.08%. The company had revenue of $102 million for the quarter, compared to the consensus estimate of $101.99 million. During the same quarter in the previous year, the business earned ($0.14) EPS. Nimble Storage’s revenue was up 26.4% compared to the same quarter last year. Equities analysts predict that Nimble Storage will post ($0.73) earnings per share for the current year.
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In related news, Director Jerry M. Kennelly sold 5,000 shares of the company’s stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $8.17, for a total value of $40,850.00. Following the completion of the transaction, the director now owns 38,456 shares of the company’s stock, valued at approximately $314,185.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ping Li sold 23,000 shares of the company’s stock in a transaction on Tuesday, October 4th. The stock was sold at an average price of $8.62, for a total transaction of $198,260.00. Following the completion of the transaction, the director now directly owns 35,676 shares of the company’s stock, valued at approximately $307,527.12. The disclosure for this sale can be found here. 20.90% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of NMBL. TFS Capital LLC purchased a new position in shares of Nimble Storage during the second quarter valued at $105,000. BlackRock Group LTD increased its position in 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. Stevens Capital Management LP bought a new position in Nimble Storage during the second quarter valued at approximately $117,000. Raymond James & Associates increased its position in 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, Aperio Group LLC bought a new position in Nimble Storage during the third quarter valued at approximately $146,000. 59.94% of the stock is owned by institutional investors.
Nimble Storage Company Profile
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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