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 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.
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.
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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.
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