Zacks Investment Research upgraded shares of Nimble Storage Inc. (NYSE:NMBL) from a sell rating to a hold rating in a report issued on Tuesday morning.
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. “
NMBL has been the topic of a number of other research reports. Wells Fargo & Co. raised Nimble Storage from a market perform rating to an outperform rating in a report on Wednesday, October 12th. Morgan Stanley increased their price objective on Nimble Storage from $6.00 to $18.00 and gave the stock an overweight rating in a report on Wednesday, August 24th. Needham & Company LLC reissued a buy rating and set a $12.00 price objective on shares of Nimble Storage in a report on Thursday, August 25th. Summit Redstone reissued a buy rating and set a $14.00 price objective (up previously from $12.00) on shares of Nimble Storage in a report on Thursday, August 25th. Finally, Piper Jaffray Cos. reissued a neutral rating and set a $9.00 price objective on shares of Nimble Storage in a report on Thursday, August 25th. Fourteen research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Nimble Storage has an average rating of Buy and a consensus price target of $11.94.
Shares of Nimble Storage (NYSE:NMBL) opened at 7.77 on Tuesday. The company’s market capitalization is $661.22 million. Nimble Storage has a 12-month low of $5.64 and a 12-month high of $11.33. The stock’s 50 day moving average price is $8.21 and its 200 day moving average price is $8.00.
Nimble Storage (NYSE:NMBL) last issued its quarterly earnings data on Tuesday, November 22nd. The company reported ($0.18) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.18). The business had revenue of $102 million for the quarter, compared to analysts’ expectations of $101.99 million. Nimble Storage had a negative return on equity of 109.02% and a negative net margin of 41.08%. The firm’s quarterly revenue was up 26.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.14) EPS. On average, equities research analysts forecast that Nimble Storage will post ($0.73) earnings per share for the current year.
In related news, Director Ping Li sold 10,000 shares of Nimble Storage stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $8.54, for a total transaction of $85,400.00. Following the sale, the director now directly owns 35,676 shares in the company, valued at $304,673.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William John Schroeder purchased 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 21st. The shares were purchased at an average price of $7.30 per share, for a total transaction of $36,500.00. Following the completion of the transaction, the director now directly owns 46,870 shares of the company’s stock, valued at $342,151. The disclosure for this purchase can be found here. Corporate insiders own 20.90% of the company’s stock.
Several large investors have recently added to or reduced their stakes in NMBL. Royce & Associates LP purchased a new stake in Nimble Storage during the second quarter valued at $342,000. State Board of Administration of Florida Retirement System raised its stake in Nimble Storage by 5.3% in the second quarter. State Board of Administration of Florida Retirement System now owns 22,990 shares of the company’s stock valued at $183,000 after buying an additional 1,155 shares in the last quarter. California Public Employees Retirement System raised its stake in Nimble Storage by 895.3% in the second quarter. California Public Employees Retirement System now owns 320,000 shares of the company’s stock valued at $2,547,000 after buying an additional 287,850 shares in the last quarter. Swiss National Bank raised its stake in Nimble Storage by 49.9% in the second quarter. Swiss National Bank now owns 94,300 shares of the company’s stock valued at $751,000 after buying an additional 31,400 shares in the last quarter. Finally, California State Teachers Retirement System raised its stake in Nimble Storage by 23.0% in the second quarter. California State Teachers Retirement System now owns 132,025 shares of the company’s stock valued at $1,051,000 after buying an additional 24,679 shares in the last quarter. Institutional investors own 59.94% of the company’s stock.
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.