Other equities analysts have also recently issued research reports about the company. Summit Redstone reiterated a buy rating and issued a $14.00 target price (up previously from $12.00) on shares of Nimble Storage in a report on Thursday, August 25th. Needham & Company LLC reissued a buy rating and set a $12.00 price target on shares of Nimble Storage in a research note on Thursday, August 25th. BMO Capital Markets raised their price target on Nimble Storage from $10.00 to $13.00 and gave the stock a buy rating in a research note on Wednesday, August 24th. Jefferies Group raised their price target on 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 reissued an equal weight rating and set a $10.00 price target (up 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 issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $14.17.
Nimble Storage (NYSE:NMBL) traded down 2.26% during midday trading on Wednesday, hitting $8.23. The stock had a trading volume of 176,338 shares. The company’s 50 day moving average price is $8.24 and its 200-day moving average price is $7.89. Nimble Storage has a 52-week low of $5.64 and a 52-week high of $24.17. The stock’s market cap is $700.36 million.
Nimble Storage (NYSE:NMBL) last announced its earnings results on Tuesday, August 23rd. The company reported ($0.19) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.20) by $0.01. The firm earned $97.10 million during the quarter, compared to analysts’ expectations of $94.71 million. Nimble Storage had a negative return on equity of 97.66% and a negative net margin of 40.53%. The company’s quarterly revenue was up 21.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.10) EPS. Analysts forecast that Nimble Storage will post ($0.72) EPS for the current fiscal year.
In other news, Director Jerry M. Kennelly sold 5,000 shares of Nimble Storage stock in a transaction that occurred 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 completion of the sale, the director now directly owns 38,456 shares in the company, valued at approximately $314,185.52. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Varun Mehta sold 13,282 shares of Nimble Storage 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 sale, the vice president now owns 377,936 shares of the company’s stock, valued at $2,944,121.44. The disclosure for this sale can be found here. 20.90% of the stock is owned by company insiders.
Several large investors have recently bought and sold shares of the stock. CIBC World Markets Inc. bought a new stake in Nimble Storage during the first quarter worth about $119,000. Menta Capital LLC increased its stake in Nimble Storage by 17.0% in the first quarter. Menta Capital LLC now owns 43,434 shares of the company’s stock worth $341,000 after buying an additional 6,300 shares during the last quarter. Spark Investment Management LLC increased its stake in Nimble Storage by 15.3% in the first quarter. Spark Investment Management LLC now owns 231,700 shares of the company’s stock worth $1,816,000 after buying an additional 30,800 shares during the last quarter. Credit Agricole S A increased its stake in Nimble Storage by 41.6% in the first quarter. Credit Agricole S A now owns 238,130 shares of the company’s stock worth $1,867,000 after buying an additional 69,936 shares during the last quarter. Finally, Primecap Management Co. CA increased its stake in Nimble Storage by 35.9% in the first quarter. Primecap Management Co. CA now owns 302,600 shares of the company’s stock worth $2,372,000 after buying an additional 80,000 shares during the last quarter. Institutional investors own 61.23% of the company’s stock.
About Nimble Storage
Nimble Storage, Inc (Nimble Storage) engineers and delivers its customers with flash storage platform. The Company’s Predictive Flash platform consists of a Unified Flash Fabric that provides a single consolidation architecture with common data services across a portfolio of All Flash and Adaptive Flash arrays, and InfoSight predictive analytics with integrated support and service offerings.
Receive News & Ratings for Nimble Storage Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nimble Storage Inc. and related companies with MarketBeat.com's FREE daily email newsletter.