Trade Report: Today, Nimble Storage’s (NMBL) “Outperform” Rating Reaffirm at Wells Fargo & Co.

Today, Nimble Storage’s (NMBL) “Outperform” Rating Reaffirm at Wells Fargo & Co.

Nimble Storage Inc. (NYSE:NMBL)‘s stock had its “outperform” rating reissued by investment analysts at Wells Fargo & Co. in a research note issued to investors on Saturday. They presently have a $10.50 price objective on the stock. Wells Fargo & Co.’s price target indicates a potential upside of 35.83% from the stock’s current price.

Several other equities research analysts have also recently weighed in on the stock. Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of Nimble Storage in a research report on Saturday, October 1st. Susquehanna reaffirmed a “positive” rating and issued a $12.00 price target on shares of Nimble Storage in a research report on Friday. Needham & Company LLC reaffirmed a “buy” rating and issued a $12.00 price target on shares of Nimble Storage in a research report on Friday. BMO Capital Markets lowered their price target on shares of Nimble Storage from $13.00 to $12.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, JMP Securities reaffirmed a “hold” rating on shares of Nimble Storage in a research report on Thursday. Fourteen investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Nimble Storage has an average rating of “Buy” and a consensus target price of $11.94.

Shares of Nimble Storage (NYSE:NMBL) opened at 7.73 on Friday. The firm has a 50-day moving average of $8.15 and a 200-day moving average 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 issued its earnings results on Tuesday, November 22nd. The company reported ($0.18) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.18). The business had revenue of $102 million for the quarter, compared to the consensus estimate 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 revenue for the quarter was up 26.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.14) EPS. Equities research analysts forecast that Nimble Storage will post ($0.73) earnings per share for the current year.

In related news, Director William John Schroeder bought 5,000 shares of the company’s stock in a transaction dated Wednesday, September 21st. The shares were acquired at an average price of $7.30 per share, for a total transaction of $36,500.00. Following the completion of the transaction, the director now directly owns 46,870 shares in the company, valued at $342,151. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Anup V. Singh sold 16,479 shares of Nimble Storage stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $7.72, for a total transaction of $127,217.88. Following the completion of the sale, the chief financial officer now owns 286,131 shares in the company, valued at approximately $2,208,931.32. The disclosure for this sale can be found here. Corporate insiders own 20.90% of the company’s stock.

Several hedge funds have recently made changes to their positions in NMBL. Vanguard Group Inc. raised its stake in shares of Nimble Storage by 13.2% in the second quarter. Vanguard Group Inc. now owns 4,147,386 shares of the company’s stock valued at $33,013,000 after buying an additional 482,263 shares during the period. Polar Capital LLP raised its stake in shares of Nimble Storage by 22.9% in the second quarter. Polar Capital LLP now owns 2,394,557 shares of the company’s stock valued at $19,050,000 after buying an additional 446,236 shares during the period. BlackRock Fund Advisors raised its stake in shares of Nimble Storage by 6.2% in the third quarter. BlackRock Fund Advisors now owns 1,602,928 shares of the company’s stock valued at $14,154,000 after buying an additional 93,563 shares during the period. Retirement Systems of Alabama raised its stake in shares of 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. Finally, Quentec Asset Management LLC raised its stake in shares of Nimble Storage by 35.7% in the third quarter. Quentec Asset Management LLC now owns 1,506,499 shares of the company’s stock valued at $13,302,000 after buying an additional 396,439 shares during the period. Institutional investors and hedge funds own 59.94% of the company’s stock.

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