Brokerages Set Nimble Storage Inc (NMBL) Price Target at $13.05
Shares of Nimble Storage Inc (NYSE:NMBL) have received an average recommendation of “Hold” from the twenty-one analysts that are covering the firm. Seventeen research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $13.05.
A number of research firms have recently weighed in on NMBL. Pacific Crest raised Nimble Storage from a “sector weight” rating to an “overweight” rating and set a $11.00 price target for the company in a research note on Monday, January 9th. Raymond James Financial, Inc. reaffirmed an “outperform” rating and set a $26.00 price target on shares of Nimble Storage in a research note on Friday, March 10th. Maxim Group downgraded Nimble Storage from a “buy” rating to a “hold” rating and cut their price target for the stock from $14.00 to $12.50 in a research note on Thursday, March 23rd. Wells Fargo & Co lowered Nimble Storage from an “outperform” rating to a “market perform” rating in a report on Wednesday, March 8th. Finally, Zacks Investment Research raised Nimble Storage from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a report on Tuesday, March 14th.
In related news, VP Denis Murphy sold 6,883 shares of the firm’s stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $12.52, for a total transaction of $86,175.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Anup V. Singh sold 28,231 shares of the firm’s stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $12.52, for a total value of $353,452.12. Following the transaction, the chief financial officer now owns 301,208 shares of the company’s stock, valued at approximately $3,771,124.16. The disclosure for this sale can be found here. 20.90% of the stock is owned by company insiders.
A number of institutional investors have recently modified their holdings of NMBL. Tudor Investment Corp Et Al acquired a new position in shares of Nimble Storage during the fourth quarter valued at about $127,000. Aperio Group LLC acquired a new position in shares of Nimble Storage during the third quarter valued at about $146,000. RBF Capital LLC acquired a new position in shares of Nimble Storage during the third quarter valued at about $150,000. CIBC World Markets Inc. increased its position in shares of Nimble Storage by 2.0% in the third quarter. CIBC World Markets Inc. now owns 17,600 shares of the technology company’s stock valued at $155,000 after buying an additional 350 shares during the last quarter. Finally, Creative Planning increased its position in shares of Nimble Storage by 20.8% in the third quarter. Creative Planning now owns 18,373 shares of the technology company’s stock valued at $162,000 after buying an additional 3,164 shares during the last quarter. Hedge funds and other institutional investors own 63.41% of the company’s stock.
Nimble Storage (NYSE:NMBL) remained flat at $12.49 during mid-day trading on Friday. The company’s market cap is $1.15 billion. Nimble Storage has a 52 week low of $6.18 and a 52 week high of $12.58. The firm’s 50 day moving average price is $12.18 and its 200 day moving average price is $9.30.
Nimble Storage (NYSE:NMBL) last posted its quarterly earnings results on Tuesday, March 7th. The technology company reported ($0.12) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.14) by $0.02. Nimble Storage had a negative return on equity of 114.08% and a negative net margin of 41.08%. The company earned $117.03 million during the quarter, compared to the consensus estimate of $113.51 million. During the same period last year, the business earned ($0.12) EPS. The business’s quarterly revenue was up 29.9% on a year-over-year basis. On average, analysts anticipate that Nimble Storage will post ($0.42) EPS for the current year.
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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