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

Today, Nimble Storage Inc. (NMBL) Stock Rating Reaffirm by Needham & Company LLC
Nimble Storage Inc. (NYSE:NMBL)‘s stock had its “buy” rating reissued by investment analysts at Needham & Company LLC in a research report issued on Friday. They currently have a $12.00 target price on the stock. Needham & Company LLC’s price target suggests a potential upside of 55.24% from the stock’s current price.

Other equities research analysts have also issued research reports about the stock. Oppenheimer Holdings Inc. restated a “hold” rating on shares of Nimble Storage in a report on Saturday, October 1st. Susquehanna reiterated a “positive” rating and set a $12.00 price objective on shares of Nimble Storage in a research note on Friday. BMO Capital Markets reduced their price objective on shares of Nimble Storage from $13.00 to $12.00 and set an “outperform” rating for the company in a research note on Wednesday. Jefferies Group boosted their price objective on shares of 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 reiterated an “equal weight” rating on shares of Nimble Storage in a research note on Tuesday, November 8th. Fourteen 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. The stock has an average rating of “Buy” and an average price target 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 traded hands. Nimble Storage has a 1-year low of $5.64 and a 1-year high of $11.33. The company’s market capitalization is $657.82 million. The company has a 50 day moving average price of $8.21 and a 200 day moving average price of $8.00.

Nimble Storage (NYSE:NMBL) last announced its quarterly earnings data on Tuesday, November 22nd. The company reported ($0.18) earnings per share for the quarter, meeting 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 company earned $102 million during the quarter, compared to analyst estimates of $101.99 million. During the same quarter last year, the business posted ($0.14) EPS. The firm’s revenue for the quarter was up 26.4% on a year-over-year basis. On average, analysts expect that Nimble Storage will post ($0.73) earnings per share for the current year.

In other Nimble Storage news, 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 transaction of $40,850.00. Following the completion of the transaction, the director now directly owns 38,456 shares in the company, valued at $314,185.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Varun Mehta sold 13,282 shares of the company’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $7.79, for a total transaction of $103,466.78. Following the transaction, the vice president now owns 377,936 shares of the company’s stock, valued at $2,944,121.44. The disclosure for this sale can be found here. Company insiders own 20.90% of the company’s stock.

Large investors have recently modified their holdings of the stock. UBS Asset Management Americas Inc. boosted its stake in shares of Nimble Storage by 11.9% in the second quarter. UBS Asset Management Americas Inc. now owns 28,300 shares of the company’s stock worth $225,000 after buying an additional 3,000 shares during the period. Nationwide Fund Advisors boosted its stake in shares of Nimble Storage by 24.4% in the second quarter. Nationwide Fund Advisors now owns 40,812 shares of the company’s stock worth $325,000 after buying an additional 7,999 shares during the period. Royce & Associates LP acquired a new stake in shares of Nimble Storage during the second quarter worth approximately $342,000. State Board of Administration of Florida Retirement System boosted its stake in shares of 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 worth $183,000 after buying an additional 1,155 shares during the period. Finally, California Public Employees Retirement System boosted 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 during the period. Institutional investors and hedge funds own 59.94% of the company’s stock.

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