Trade Report: Today, Nimble Storage Inc. (NMBL) Lifted to Outperform at Wells Fargo & Co.

Today, Nimble Storage Inc. (NMBL) Lifted to Outperform at Wells Fargo & Co.

Wells Fargo & Co. upgraded shares of Nimble Storage Inc. (NYSE:NMBL) from a market perform rating to an outperform rating in a research report sent to investors on Wednesday morning.

A number of other equities research analysts have also recently issued reports on NMBL. Summit Redstone restated a buy rating on shares of Nimble Storage in a report on Sunday, June 26th. BMO Capital Markets upgraded shares of Nimble Storage from a market perform rating to an outperform rating and increased their target price for the company from $9.00 to $10.00 in a research note on Wednesday, August 3rd. BTIG Research reiterated a neutral rating on shares of Nimble Storage in a research note on Wednesday, August 24th. Morgan Stanley increased their target price on shares of Nimble Storage from $6.00 to $18.00 and gave the company an overweight rating in a research note on Wednesday, August 24th. Finally, Barclays PLC reiterated an equal weight rating and issued a $10.00 target price (up previously from $9.00) on shares of Nimble Storage in a research note on Wednesday, August 24th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Nimble Storage presently has a consensus rating of Hold and an average target price of $14.17.

Nimble Storage (NYSE:NMBL) opened at 8.09 on Wednesday. The stock’s 50 day moving average price is $8.21 and its 200 day moving average price is $7.89. Nimble Storage has a 12-month low of $5.64 and a 12-month high of $23.64. The company’s market capitalization is $688.45 million.

Nimble Storage (NYSE:NMBL) last released its quarterly earnings results on Tuesday, August 23rd. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.01. Nimble Storage had a negative net margin of 40.53% and a negative return on equity of 97.66%. The company earned $97.10 million during the quarter, compared to analysts’ expectations of $94.71 million. During the same period in the prior year, the company earned ($0.10) earnings per share. The business’s quarterly revenue was up 21.2% compared to the same quarter last year. On average, equities research analysts anticipate that Nimble Storage will post ($0.72) earnings per share for the current fiscal year.

In other news, Director Ping Li sold 23,000 shares of Nimble Storage 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 transaction, the director now directly owns 35,676 shares of the company’s stock, valued at $307,527.12. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Suresh Vasudevan sold 22,773 shares of Nimble Storage stock in a transaction 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 transaction, the chief executive officer now directly owns 1,048,972 shares in the company, valued at $8,140,022.72. The disclosure for this sale can be found here. 20.90% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the company. Quantum Capital Management purchased a new position in shares of Nimble Storage during the first quarter worth $105,000. TFS Capital LLC purchased a new position in shares of Nimble Storage during the second quarter worth $105,000. Stevens Capital Management LP purchased a new position in shares of Nimble Storage during the second quarter worth $117,000. CIBC World Markets Inc. purchased a new position in shares of Nimble Storage during the first quarter worth $119,000. Finally, 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 in the last quarter. 61.34% of the stock is currently owned by institutional investors.

Nimble Storage Company Profile

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