Today: Today, Nimble Storage Inc. (NMBL) Upgraded to Hold at The Zacks Investment Research

Today, Nimble Storage Inc. (NMBL) Upgraded to Hold at The Zacks Investment Research

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.

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