Nimble Storage Inc. (NYSE:NMBL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued 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 research analysts also recently weighed in on the stock. RBC Capital Markets reissued a “sector perform” rating and issued a $10.00 target price on shares of Nimble Storage in a research note on Saturday. Raymond James Financial Inc. reissued a “market perform” rating on shares of Nimble Storage in a research note on Friday, November 25th. William Blair reissued a “market perform” rating on shares of Nimble Storage in a research note on Saturday. Barclays PLC reissued an “equal weight” rating and issued a $10.00 target price on shares of Nimble Storage in a research note on Saturday. Finally, Wells Fargo & Co. reissued an “outperform” rating and issued a $10.50 target price on shares of Nimble Storage in a research note on Saturday. Fifteen equities research 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 company. Nimble Storage has a consensus rating of “Buy” and an average target price of $11.94.

Analyst Recommendations for Nimble Storage (NYSE:NMBL)

Nimble Storage (NYSE:NMBL) opened at 7.55 on Wednesday. Nimble Storage has a 12 month low of $5.64 and a 12 month high of $11.33. The stock has a 50 day moving average of $8.11 and a 200-day moving average of $8.04. The stock’s market cap is $651.88 million.

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

WARNING: This piece of content was published by Daily Political and is the sole property of of Daily Political. If you are viewing this piece of content on another site, it was copied illegally and reposted in violation of U.S. and international copyright law. The original version of this piece of content can be read at http://www.dailypolitical.com/2016/11/29/zacks-investment-research-upgrades-nimble-storage-inc-nmbl-to-hold.html.

In related news, Director William John Schroeder acquired 5,000 shares of the stock in a transaction that occurred on Wednesday, September 21st. The stock was purchased at an average cost of $7.30 per share, for a total transaction of $36,500.00. Following the purchase, the director now directly owns 46,870 shares in the company, valued at $342,151. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Anup V. Singh sold 16,479 shares of the company’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $7.72, for a total value of $127,217.88. Following the transaction, the chief financial officer now owns 286,131 shares of the company’s stock, valued at $2,208,931.32. The disclosure for this sale can be found here. Corporate insiders own 20.90% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Friess Associates LLC bought a new position in shares of Nimble Storage during the second quarter worth approximately $4,856,000. Vanguard Group Inc. increased its position in shares of Nimble Storage by 13.2% in the second quarter. Vanguard Group Inc. now owns 4,147,386 shares of the company’s stock worth $33,013,000 after buying an additional 482,263 shares during the last quarter. Polar Capital LLP increased its position in shares of Nimble Storage by 22.9% in the second quarter. Polar Capital LLP now owns 2,394,557 shares of the company’s stock worth $19,050,000 after buying an additional 446,236 shares during the last quarter. Quentec Asset Management LLC increased its position in shares of Nimble Storage by 35.7% in the third quarter. Quentec Asset Management LLC now owns 1,506,499 shares of the company’s stock worth $13,302,000 after buying an additional 396,439 shares during the last quarter. Finally, California Public Employees Retirement System increased its position in shares of Nimble Storage by 895.3% in the second quarter. California Public Employees Retirement System now owns 320,000 shares of the company’s stock worth $2,547,000 after buying an additional 287,850 shares during 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.

5 Day Chart for NYSE:NMBL

Get a free copy of the Zacks research report on Nimble Storage (NMBL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Nimble Storage Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nimble Storage Inc. and related companies with MarketBeat.com's FREE daily email newsletter.