Trading Report: Today, Nimble Storage Inc. (NMBL) Stock Rating Reaffirm by Susquehanna

Today, Nimble Storage Inc. (NMBL) Stock Rating Reaffirm by Susquehanna

Nimble Storage Inc. (NYSE:NMBL)‘s stock had its “positive” rating reaffirmed by stock analysts at Susquehanna in a report issued on Friday. They currently have a $12.00 target price on the stock. Susquehanna’s price objective suggests a potential upside of 55.24% from the company’s current price.

Several other brokerages have also issued reports on NMBL. Summit Redstone reissued a “buy” rating and issued a $14.00 price target (up previously from $12.00) on shares of Nimble Storage in a report on Thursday, August 25th. BMO Capital Markets upped their target price on shares of Nimble Storage from $10.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, August 24th. Needham & Company LLC reaffirmed a “buy” rating and issued a $12.00 target price on shares of Nimble Storage in a research note on Thursday, August 25th. Jefferies Group upped their target price 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 reaffirmed an “equal weight” rating and issued a $10.00 target price (up from $9.00) on shares of Nimble Storage in a research note on Wednesday, August 24th. Fourteen analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $11.94.

Nimble Storage (NYSE:NMBL) traded down 0.51% during trading on Friday, reaching $7.73. The company’s stock had a trading volume of 1,257,918 shares. 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. The company’s 50 day moving average price is $8.21 and its 200 day moving average price is $8.00.

Nimble Storage (NYSE:NMBL) last issued its earnings results on Tuesday, November 22nd. The company reported ($0.18) EPS for the quarter, meeting the consensus estimate of ($0.18). The company earned $102 million during 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 business’s revenue for the quarter was up 26.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.14) EPS. On average, equities analysts anticipate that Nimble Storage will post ($0.73) earnings per share for the current fiscal year.

In other news, VP Varun Mehta sold 13,282 shares of the firm’s stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $7.79, for a total transaction of $103,466.78. Following the transaction, the vice president now directly owns 377,936 shares of the company’s stock, valued at $2,944,121.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William John Schroeder bought 5,000 shares of the stock in a transaction dated Wednesday, September 21st. The shares were acquired at an average cost of $7.30 per share, for a total transaction of $36,500.00. Following the completion of the acquisition, the director now directly owns 46,870 shares of the company’s stock, valued at approximately $342,151. The disclosure for this purchase can be found here. Insiders own 20.90% of the company’s stock.

Several hedge funds have recently bought and sold shares of NMBL. TFS Capital LLC purchased a new stake in Nimble Storage during the second quarter valued at about $105,000. Stevens Capital Management LP purchased a new stake in Nimble Storage during the second quarter valued at about $117,000. BlackRock Group LTD raised its stake in Nimble Storage by 4.2% in the third quarter. BlackRock Group LTD now owns 14,188 shares of the company’s stock valued at $125,000 after buying an additional 567 shares in the last quarter. Raymond James & Associates raised its stake in Nimble Storage by 37.3% in the second quarter. Raymond James & Associates now owns 15,853 shares of the company’s stock valued at $126,000 after buying an additional 4,306 shares in the last quarter. Finally, CIBC World Markets Inc. raised 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 in the last quarter. Institutional investors and hedge funds own 59.94% of the company’s stock.

Nimble Storage Company Profile

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