Nimble Storage Inc (NMBL) was Reiterated by Maxim Group to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 11 from a previous price target of $10 . Maxim Group advised their investors in a research report released on May 25, 2016.
Many Wall Street Analysts have commented on Nimble Storage Inc. Shares were Reiterated by Maxim Group on May 23, 2016 to “Buy” and Lowered the Price Target to $ 10 from a previous price target of $14 .Shares were Reiterated by FBN Securities on Mar 7, 2016 to “Outperform” and Lowered the Price Target to $ 10 from a previous price target of $15 .Nimble Storage Inc was Downgraded by Piper Jaffray to ” Neutral” on Mar 4, 2016.
On the company’s financial health, Nimble Storage Inc reported $-0.24 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on May 24, 2016. Analyst had a consensus of $-0.26. The company had revenue of $86.40 million for the quarter, compared to analysts expectations of $84.60 million. The company’s revenue was up 21.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.10 EPS.
Nimble Storage Inc opened for trading at $6.71 and hit $7.22 on the upside on Friday, eventually ending the session at $7.18, with a gain of 7.00% or 0.47 points. The heightened volatility saw the trading volume jump to 7,39,831 shares. Company has a market cap of $603,838 M.
In a different news, on Mar 30, 2016, William John Schroeder (director) purchased 40,000 shares at $7.11 per share price. According to the SEC, on Mar 14, 2016, Anup V Singh (Chief Financial Officer) sold 17,158 shares at $7.41 per share price. On Mar 11, 2016, Varun Mehta (VP Engineering) sold 14,149 shares at $7.26 per share price, according to the Form-4 filing with the securities and exchange commission.
Nimble Storage Inc. (Nimble Storage) engineers and delivers its customers with data storage platform. The Company has designed and sells a flash-optimized storage platform Adaptive Flash. With the combination of the Company’s file system Cache Accelerated Sequential Layout (CASL) and its cloud-based storage management and support service InfoSight the Company’s platform serves an array of enterprises and cloud-based service providers and the Company’s software and storage systems handle mainstream applications including virtual desktops databases e-mail collaboration and analytics. It enables information technology (IT) organizations to predict manage and deliver the storage required to improve business applications and workloads across their IT environments. Its end-customers span a range of industries such as cloud-based service providers education financial services healthcare manufacturing state and local government and technology.