Trade Report: Today, Nimble Storage Inc. (NMBL) Rating Reiterate by Needham & Company LLC

Today, Nimble Storage Inc. (NMBL) Rating Reiterate by Needham & Company LLC

Nimble Storage Inc. (NYSE:NMBL)‘s stock had its “buy” rating reaffirmed by stock analysts at Needham & Company LLC in a research report issued on Friday. They currently have a $12.00 price target on the stock. Needham & Company LLC’s price target indicates a potential upside of 55.24% from the company’s previous close.

A number of other research analysts have also recently weighed in on NMBL. Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of Nimble Storage in a research note on Saturday, October 1st. Susquehanna reissued a “positive” rating and issued a $12.00 price target on shares of Nimble Storage in a research report on Friday. Piper Jaffray Cos. reissued a “neutral” rating and issued a $9.00 price target on shares of Nimble Storage in a research report on Thursday, August 25th. Pacific Crest reissued a “hold” rating on shares of Nimble Storage in a research report on Wednesday, August 24th. Finally, Barclays PLC reissued an “equal weight” rating on shares of Nimble Storage in a research report on Tuesday, November 8th. Fourteen analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $11.94.

Shares of Nimble Storage (NYSE:NMBL) traded down 0.51% during trading on Friday, hitting $7.73. 1,257,918 shares of the stock traded hands. The firm has a 50-day moving average of $8.21 and a 200-day moving average of $8.00. The firm’s market capitalization is $657.82 million. Nimble Storage has a 1-year low of $5.64 and a 1-year high of $11.33.

Nimble Storage (NYSE:NMBL) last released its earnings results on Tuesday, November 22nd. The company reported ($0.18) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.18). The firm had revenue of $102 million for the quarter, compared to analysts’ expectations of $101.99 million. Nimble Storage had a negative net margin of 41.08% and a negative return on equity of 109.02%. The company’s quarterly revenue was up 26.4% on a year-over-year basis. During the same period in the previous year, the company earned ($0.14) earnings per share. On average, equities analysts forecast that Nimble Storage will post ($0.73) earnings per share for the current year.

In other news, VP Varun Mehta sold 13,282 shares of the firm’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $7.79, for a total transaction of $103,466.78. Following the sale, the vice president now owns 377,936 shares of the company’s stock, valued at approximately $2,944,121.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ping Li sold 23,000 shares of the firm’s stock in a transaction dated Tuesday, October 4th. The shares were sold at an average price of $8.62, for a total transaction of $198,260.00. Following the sale, the director now directly owns 35,676 shares in the company, valued at approximately $307,527.12. The disclosure for this sale can be found here. Company insiders own 20.90% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Beacon Capital Management acquired a new position in Nimble Storage during the fourth quarter worth about $0. TFS Capital LLC purchased a new stake in Nimble Storage during the second quarter worth approximately $105,000. Quantum Capital Management purchased a new stake in Nimble Storage during the first quarter worth approximately $105,000. BlackRock Group LTD boosted its stake in Nimble Storage by 53.7% in the first quarter. BlackRock Group LTD now owns 13,811 shares of the company’s stock worth $109,000 after buying an additional 4,828 shares during the last quarter. Finally, Stevens Capital Management LP purchased a new stake in Nimble Storage during the second quarter worth approximately $117,000. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

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