Todays Report: Today, Nimble Storage’s (NMBL) Sector Perform Rating Reaffirm at RBC Capital Markets

Today, Nimble Storage’s (NMBL) Sector Perform Rating Reaffirm at RBC Capital Markets

Nimble Storage Inc. (NYSE:NMBL)‘s stock had its “sector perform” rating reiterated by analysts at RBC Capital Markets in a note issued to investors on Saturday. They presently have a $10.00 target price on the stock. RBC Capital Markets’ target price suggests a potential upside of 29.37% from the stock’s current price.

A number of other equities research analysts have also weighed in on the stock. BMO Capital Markets upgraded shares of Nimble Storage from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $9.00 to $10.00 in a report on Wednesday, August 3rd. Morgan Stanley upped their target price on shares of Nimble Storage from $6.00 to $18.00 and gave the stock an “overweight” rating in a report on Wednesday, August 24th. Wells Fargo & Co. upgraded shares of Nimble Storage from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $9.50 to $10.50 in a research note on Thursday, September 29th. Zacks Investment Research upgraded shares of Nimble Storage from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Jefferies Group increased their price objective on shares of Nimble Storage from $13.50 to $14.00 and gave the company a “buy” rating in a research note on Wednesday, August 24th. Fifteen analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Nimble Storage has an average rating of “Buy” and a consensus price target of $11.94.

Shares of Nimble Storage (NYSE:NMBL) traded down 0.51% during midday trading on Friday, hitting $7.73. The stock had a trading volume of 1,257,918 shares. Nimble Storage has a 52 week low of $5.64 and a 52 week 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. The company’s market cap is $657.82 million.

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

In other news, Director Ping Li sold 23,000 shares of the firm’s stock in a transaction 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 in the company, valued at approximately $307,527.12. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jerry M. Kennelly sold 5,000 shares of the firm’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 sale, the director now owns 38,456 shares in the company, valued at approximately $314,185.52. The disclosure for this sale 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 acquired a new position in shares of Nimble Storage during the second quarter worth approximately $105,000. Stevens Capital Management LP acquired a new position in shares of Nimble Storage during the second quarter worth approximately $117,000. BlackRock Group LTD boosted its position in shares of Nimble Storage by 4.2% in the third quarter. BlackRock Group LTD now owns 14,188 shares of the company’s stock worth $125,000 after buying an additional 567 shares during the last quarter. Raymond James & Associates boosted its position in shares of Nimble Storage by 37.3% in the second quarter. Raymond James & Associates now owns 15,853 shares of the company’s stock worth $126,000 after buying an additional 4,306 shares during the last quarter. Finally, CIBC World Markets Inc. boosted its position in shares of Nimble Storage by 13.5% in the second quarter. CIBC World Markets Inc. now owns 17,250 shares of the company’s stock worth $137,000 after buying an additional 2,050 shares during the last quarter. Hedge funds and other institutional investors own 59.94% of the company’s stock.

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