Needham & Company LLC reissued their buy rating on shares of Nimble Storage Inc. (NYSE:NMBL) in a research note published on Friday. They currently have a $12.00 price target on the stock.

A number of other equities research analysts have also recently commented on the stock. Susquehanna set a $12.00 target price on shares of Nimble Storage and gave the company a buy rating in a research report on Friday, November 25th. BMO Capital Markets reiterated an outperform rating and issued a $12.00 target price (down from $13.00) on shares of Nimble Storage in a research report on Wednesday, November 23rd. Oppenheimer Holdings Inc. reiterated a hold rating on shares of Nimble Storage in a research report on Tuesday, November 22nd. Zacks Investment Research upgraded shares of Nimble Storage from a sell rating to a hold rating in a research report on Tuesday, November 22nd. Finally, Barclays PLC reiterated an equal weight rating on shares of Nimble Storage in a research report on Tuesday, November 8th. Fifteen analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Nimble Storage currently has an average rating of Buy and an average target price of $11.94.

Shares of Nimble Storage (NYSE:NMBL) opened at 7.55 on Friday. The stock’s market capitalization is $651.88 million. The firm has a 50-day moving average of $8.11 and a 200 day moving average of $8.04. Nimble Storage has a 52-week low of $5.64 and a 52-week high of $11.33.

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

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In other Nimble Storage news, Director Ping Li sold 23,000 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $307,527.12. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jerry M. Kennelly sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $8.17, for a total transaction of $40,850.00. Following the sale, the director now directly owns 38,456 shares in the company, valued at approximately $314,185.52. The disclosure for this sale can be found here. 20.90% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in NMBL. Quantitative Systematic Strategies LLC boosted its stake in Nimble Storage by 55.4% in the third quarter. Quantitative Systematic Strategies LLC now owns 133,260 shares of the company’s stock worth $1,167,000 after buying an additional 47,522 shares during the last quarter. RBF Capital LLC bought a new stake in Nimble Storage during the third quarter worth $150,000. D. E. Shaw & Co. Inc. boosted its stake in Nimble Storage by 29.9% in the third quarter. D. E. Shaw & Co. Inc. now owns 1,234,425 shares of the company’s stock worth $10,900,000 after buying an additional 284,301 shares during the last quarter. The Manufacturers Life Insurance Company bought a new stake in Nimble Storage during the third quarter worth $393,000. Finally, Ardsley Advisory Partners bought a new stake in Nimble Storage during the third quarter worth $287,000. 62.17% of the stock is currently owned by institutional investors.

Nimble Storage Company Profile

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.

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