Todays Report: Today, Nimble Storage Inc. (NMBL) Rating Reiterate by RBC Capital Markets

Today, Nimble Storage Inc. (NMBL) Rating Reiterate by RBC Capital Markets

Nimble Storage Inc. (NYSE:NMBL)‘s stock had its “sector perform” rating restated by RBC Capital Markets in a research note issued on Saturday. They presently have a $10.00 price target on the stock. RBC Capital Markets’ target price points to a potential upside of 29.37% from the company’s previous close.

A number of other equities analysts have also recently commented on NMBL. BMO Capital Markets raised shares of Nimble Storage from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $9.00 to $10.00 in a research note on Wednesday, August 3rd. BTIG Research reissued a “neutral” rating on shares of Nimble Storage in a research note on Wednesday, August 24th. Morgan Stanley lifted their price objective on shares of Nimble Storage from $6.00 to $18.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 24th. Summit Redstone lifted their price objective on shares of Nimble Storage from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Wednesday, August 24th. Finally, Barclays PLC restated an “equal weight” rating and issued a $10.00 target price (up previously from $9.00) on shares of Nimble Storage in a report on Wednesday, August 24th. Fifteen 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. Nimble Storage presently has an average rating of “Buy” and a consensus target price of $11.94.

Shares of Nimble Storage (NYSE:NMBL) traded down 0.51% during midday trading on Friday, reaching $7.73. 1,257,918 shares of the company’s stock were exchanged. The company’s market cap is $657.82 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 $8.15 and its 200 day moving average price is $8.01.

Nimble Storage (NYSE:NMBL) last issued its quarterly earnings data on Tuesday, November 22nd. The company reported ($0.18) EPS for the quarter, hitting analysts’ consensus estimates 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 analysts’ expectations of $101.99 million. During the same period last year, the company posted ($0.14) EPS. The business’s revenue was up 26.4% on a year-over-year basis. Equities analysts anticipate that Nimble Storage will post ($0.73) earnings per share for the current fiscal year.

In other Nimble Storage news, Director Ping Li sold 23,000 shares of the business’s stock in a transaction that occurred on 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 owns 35,676 shares of the company’s stock, valued at approximately $307,527.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Suresh Vasudevan sold 22,773 shares of the business’s stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $7.76, for a total transaction of $176,718.48. Following the sale, the chief executive officer now directly owns 1,048,972 shares in the company, valued at approximately $8,140,022.72. The disclosure for this sale can be found here. Company insiders own 20.90% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the company. Boulegeris Investments Inc. increased its stake in Nimble Storage by 21.2% in the second quarter. Boulegeris Investments Inc. now owns 132,361 shares of the company’s stock valued at $1,054,000 after buying an additional 23,186 shares during the period. NN Investment Partners Holdings N.V. acquired a new stake in Nimble Storage during the second quarter valued at approximately $559,000. CIBC World Markets Inc. increased its stake in Nimble Storage by 13.5% in the second quarter. CIBC World Markets Inc. now owns 17,250 shares of the company’s stock valued at $137,000 after buying an additional 2,050 shares during the period. Bank of Montreal Can acquired a new stake in Nimble Storage during the second quarter valued at approximately $218,000. Finally, Retirement Systems of Alabama increased 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 valued at $12,656,000 after buying an additional 75,000 shares during the period. 59.94% of the stock is currently owned by institutional investors.

Nimble Storage Company Profile

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