Zacks Investment Research Upgrades Nimble Storage Inc. (NMBL) to “Hold”
Nimble Storage Inc. (NYSE:NMBL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “Nimble Storage, Inc. offers flash-optimized hybrid storage platform. The company’s software and storage systems handle various mainstream applications which include virtual desktops, databases, email, collaboration and analytics. It serves industries comprising cloud-based service providers, education, financial services, healthcare, manufacturing, state and local government and technology. Nimble Storage, Inc. is based in San Jose, California. “
Several other equities analysts have also recently issued reports on NMBL. Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of Nimble Storage in a research report on Saturday, October 1st. Barclays PLC restated an “equal weight” rating and issued a $10.00 price objective on shares of Nimble Storage in a report on Saturday. William Blair restated a “market perform” rating on shares of Nimble Storage in a report on Saturday. Piper Jaffray Cos. restated a “neutral” rating and issued a $9.00 price objective on shares of Nimble Storage in a report on Thursday, August 25th. Finally, Pacific Crest restated a “hold” rating on shares of Nimble Storage in a report on Wednesday, August 24th. Fifteen investment 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 company’s stock. Nimble Storage currently has an average rating of “Buy” and a consensus price target of $11.94.
Shares of Nimble Storage (NYSE:NMBL) opened at 7.55 on Wednesday. The firm’s market capitalization is $651.88 million. The stock has a 50 day moving average price of $8.11 and a 200 day moving average price of $8.04. Nimble Storage has a 52 week low of $5.64 and a 52 week high of $11.33.
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 the 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 had revenue of $102 million for the quarter, compared to analysts’ expectations of $101.99 million. During the same quarter in the previous year, the company earned ($0.14) earnings per share. Nimble Storage’s quarterly revenue was up 26.4% on a year-over-year basis. Analysts forecast that Nimble Storage will post ($0.73) EPS for the current year.
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In other Nimble Storage news, CEO Suresh Vasudevan sold 22,773 shares of Nimble Storage stock in a transaction on Monday, September 12th. The shares were sold at an average price of $7.76, for a total value of $176,718.48. Following the completion of the transaction, the chief executive officer now directly owns 1,048,972 shares of the company’s stock, valued at approximately $8,140,022.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ping Li sold 23,000 shares of Nimble Storage 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 $307,527.12. The disclosure for this sale can be found here. Corporate insiders own 20.90% of the company’s stock.
Several institutional investors have recently modified their holdings of NMBL. TFS Capital LLC acquired a new position in shares of Nimble Storage during the second quarter worth approximately $105,000. 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 worth $125,000 after buying an additional 567 shares during the last quarter. Stevens Capital Management LP acquired a new position in shares of Nimble Storage during the second quarter worth approximately $117,000. 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 worth $126,000 after buying an additional 4,306 shares during the last quarter. Finally, Aperio Group LLC acquired a new position in shares of Nimble Storage during the third quarter worth approximately $146,000. 62.17% of the stock is owned by institutional investors and hedge funds.
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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