Trading Report: Today: Nimble Storage Inc. (NMBL) Given “Market Perform” Rating at Raymond James Financial Inc.

Today: Nimble Storage Inc. (NMBL) Given “Market Perform” Rating at Raymond James Financial Inc.

Raymond James Financial Inc. reaffirmed their market perform rating on shares of Nimble Storage Inc. (NYSE:NMBL) in a research report released on Friday morning.

A number of other 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 increased their target price for the stock from $9.00 to $10.00 in a report on Wednesday, August 3rd. BTIG Research reiterated a neutral rating on shares of Nimble Storage in a report on Wednesday, August 24th. Morgan Stanley increased 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. Summit Redstone increased their target price on shares of Nimble Storage from $12.00 to $14.00 and gave the stock a buy rating in a report on Wednesday, August 24th. Finally, Barclays PLC reiterated an equal weight rating and set a $10.00 target price (up from $9.00) on shares of Nimble Storage in a report on Wednesday, August 24th. Fifteen investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $11.94.

Nimble Storage (NYSE:NMBL) opened at 7.73 on Friday. The stock has a 50 day moving average price of $8.15 and a 200 day moving average price of $8.01. Nimble Storage has a 52-week low of $5.64 and a 52-week high of $11.33. The company’s market capitalization is $657.82 million.

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

In related news, Director Jerry M. Kennelly sold 5,000 shares of Nimble Storage 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 transaction, the director now owns 38,456 shares in the company, valued at approximately $314,185.52. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Ping Li sold 10,000 shares of Nimble Storage stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $8.54, for a total transaction of $85,400.00. Following the transaction, the director now owns 35,676 shares in the company, valued at approximately $304,673.04. The disclosure for this sale can be found here. Insiders own 20.90% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Polar Capital LLP boosted its position in Nimble Storage by 22.9% in the second quarter. Polar Capital LLP now owns 2,394,557 shares of the company’s stock worth $19,050,000 after buying an additional 446,236 shares during the period. Retirement Systems of Alabama increased 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 worth $12,656,000 after buying an additional 75,000 shares in the last quarter. State Board of Administration of Florida Retirement System increased 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 in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Nimble Storage during the second quarter worth about $363,000. Finally, Swiss National Bank increased its stake in shares of Nimble Storage by 49.9% in the second quarter. Swiss National Bank now owns 94,300 shares of the company’s stock worth $751,000 after buying an additional 31,400 shares in the last quarter. Institutional investors own 62.17% of the company’s stock.

Nimble Storage Company Profile

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