Today, Barclays PLC Reiterates “Equal Weight” Rating for Nimble Storage Inc. (NMBL)

Today, Barclays PLC Reiterates “Equal Weight” Rating for Nimble Storage Inc. (NMBL)
Nimble Storage Inc. (NYSE:NMBL)‘s stock had its “equal weight” rating reiterated by equities research analysts at Barclays PLC in a report released on Saturday. They presently have a $10.00 price objective on the stock. Barclays PLC’s price target indicates a potential upside of 29.37% from the stock’s previous close.

Several other equities research analysts also recently issued reports on the stock. Wells Fargo & Co. reiterated an “outperform” rating and issued a $10.50 target price on shares of Nimble Storage in a research note on Saturday. JMP Securities reiterated a “hold” rating on shares of Nimble Storage in a research note on Thursday. Needham & Company LLC reiterated a “buy” rating and issued a $12.00 target price on shares of Nimble Storage in a research note on Friday. Susquehanna reiterated a “positive” rating and issued a $12.00 target price on shares of Nimble Storage in a research note on Friday. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $12.00 target price (down from $13.00) on shares of Nimble Storage in a research note on Wednesday. Fourteen investment 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’s stock. Nimble Storage has an average rating of “Buy” and an average price target of $11.94.

Shares of Nimble Storage (NYSE:NMBL) opened at 7.73 on Friday. The firm’s 50-day moving average price is $8.15 and its 200-day moving average price is $8.01. Nimble Storage has a 12-month low of $5.64 and a 12-month high of $11.33. The firm’s market capitalization is $657.82 million.

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

In related news, Director William John Schroeder bought 5,000 shares of the business’s stock in a transaction 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 approximately $342,151. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Anup V. Singh sold 16,479 shares of the firm’s stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $7.72, for a total transaction of $127,217.88. Following the completion of the sale, the chief financial officer now owns 286,131 shares in the company, valued at approximately $2,208,931.32. The disclosure for this sale can be found here. Corporate insiders own 20.90% of the company’s stock.

A number of hedge funds have recently modified their holdings of NMBL. Friess Associates LLC bought a new stake in shares of Nimble Storage during the second quarter worth $4,856,000. Vanguard Group Inc. raised its stake 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 in the last quarter. Polar Capital LLP raised its stake 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 in the last quarter. Quentec Asset Management LLC raised its stake 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 in the last quarter. Finally, California Public Employees Retirement System raised its stake 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 in the last quarter. Hedge funds and other institutional investors own 59.94% of the company’s stock.

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