Today, Nimble Storage Inc. (NMBL) Earns “Outperform” Rating from Wells Fargo & Co.

Today, Nimble Storage Inc. (NMBL) Earns “Outperform” Rating from Wells Fargo & Co.

Wells Fargo & Co. reiterated their outperform rating on shares of Nimble Storage Inc. (NYSE:NMBL) in a research report released on Saturday morning. The firm currently has a $10.50 target price on the stock.

Several other brokerages have also recently weighed in on NMBL. Oppenheimer Holdings Inc. reaffirmed a hold rating on shares of Nimble Storage in a research note on Tuesday. Zacks Investment Research raised Nimble Storage from a sell rating to a hold rating in a research note on Tuesday. Pacific Crest reaffirmed a hold rating on shares of Nimble Storage in a research note on Wednesday, August 24th. Jefferies Group upped their price target on Nimble Storage from $13.50 to $14.00 and gave the stock a buy rating in a research note on Wednesday, August 24th. Finally, Barclays PLC reaffirmed an equal weight rating and issued a $10.00 price target (up from $9.00) on shares of Nimble Storage in a research note on Wednesday, August 24th. Fourteen investment 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 target price of $11.94.

Nimble Storage (NYSE:NMBL) opened at 7.73 on Friday. The firm has a 50-day moving average price of $8.15 and a 200-day moving average price of $8.01. The company’s market cap is $657.82 million. Nimble Storage has a 52 week low of $5.64 and a 52 week high of $11.33.

Nimble Storage (NYSE:NMBL) last posted 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 return on equity of 109.02% and a negative net margin of 41.08%. The firm had revenue of $102 million for the quarter, compared to analysts’ expectations of $101.99 million. During the same period in the previous year, the firm earned ($0.14) earnings per share. The business’s revenue was up 26.4% compared to the same quarter last year. Equities research analysts anticipate that Nimble Storage will post ($0.73) EPS for the current fiscal year.

In related news, Director Ping Li sold 23,000 shares of the company’s stock in a transaction on Tuesday, October 4th. The stock was sold at an average price of $8.62, for a total transaction of $198,260.00. Following the completion of the sale, the director now owns 35,676 shares in the company, valued at $307,527.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jerry M. Kennelly sold 5,000 shares of the company’s stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $8.17, for a total value of $40,850.00. Following the sale, the director now owns 38,456 shares of the company’s stock, valued at approximately $314,185.52. 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 bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in 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 period. Polar Capital LLP boosted its stake in 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 period. BlackRock Fund Advisors boosted its stake in Nimble Storage by 6.2% in the third quarter. BlackRock Fund Advisors now owns 1,602,928 shares of the company’s stock worth $14,154,000 after buying an additional 93,563 shares during the period. Retirement Systems of Alabama boosted its stake in Nimble Storage by 5.0% in the second quarter. Retirement Systems of Alabama now owns 1,590,000 shares of the company’s stock worth $12,656,000 after buying an additional 75,000 shares during the period. Finally, Quentec Asset Management LLC boosted its stake in 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 period. Institutional investors own 59.94% of the company’s stock.

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