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

Several other equities analysts also recently commented on the company. BMO Capital Markets upgraded Nimble Storage from a market perform rating to an outperform rating and raised their target price for the stock from $9.00 to $10.00 in a research report on Wednesday, August 3rd. Morgan Stanley raised their target price on Nimble Storage from $6.00 to $18.00 and gave the stock an overweight rating in a research report on Wednesday, August 24th. Wells Fargo & Co. upgraded Nimble Storage from a market perform rating to an outperform rating and lifted their price objective for the company from $9.50 to $10.50 in a research report on Thursday, September 29th. Zacks Investment Research upgraded Nimble Storage from a sell rating to a hold rating in a research report on Tuesday, November 22nd. Finally, Jefferies Group lifted their price objective on Nimble Storage from $13.50 to $14.00 and gave the company a buy rating in a research report on Wednesday, August 24th. Fifteen investment analysts have rated the stock with a hold rating, twelve have given 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 price target of $11.94.

Analyst Recommendations for Nimble Storage (NYSE:NMBL)

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

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

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In related news, Director Jerry M. Kennelly sold 5,000 shares of Nimble Storage stock in a transaction 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 completion of the sale, the director now directly owns 38,456 shares of the company’s stock, valued at $314,185.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Ping Li sold 23,000 shares of Nimble Storage stock in a transaction on Tuesday, October 4th. The stock was sold at an average price of $8.62, for a total value of $198,260.00. Following the sale, the director now directly owns 35,676 shares of the company’s stock, valued at $307,527.12. The disclosure for this sale can be found here. Corporate insiders own 20.90% of the company’s stock.

Several large investors have recently made changes to their positions in NMBL. Polar Capital LLP boosted its stake in shares of 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 boosted 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 during the period. State Board of Administration of Florida Retirement System boosted 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 during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of Nimble Storage during the second quarter worth approximately $363,000. Finally, Swiss National Bank boosted 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 during the period. 62.17% of the stock is owned by institutional investors and hedge funds.

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.

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