Needham Downgrades Nimble Storage Inc to Hold

Brokerage firm Needham Downgrades its rating on Nimble Storage Inc(NMBL). The shares have been rated Hold. Previously, the analysts had a Buy rating on the shares. The rating by the stock financial advisor at Needham was issued on Mar 20, 2017 in a research report to their Investors and Clients.

In a different note, On Mar 8, 2017, Morgan Stanley said it Downgrades its rating on Nimble Storage Inc. The shares have been rated ‘Equal-Weight’ by the firm. On Mar 8, 2017, BMO Capital said it Downgrades its rating on Nimble Storage Inc. The shares have been rated ‘Market Perform’ by the firm. On Mar 8, 2017, Pacific Crest said it Downgrades its rating on Nimble Storage Inc. The shares have been rated ‘Sector Weight’ by the firm. On Mar 8, 2017, Susquehanna said it Downgrades its rating on Nimble Storage Inc. The shares have been rated ‘Neutral’ by the firm. On Mar 8, 2017, Wells Fargo said it Downgrades its rating on Nimble Storage Inc. The shares have been rated ‘Market Perform’ by the firm. On Jan 9, 2017, Pacific Crest said it Upgrades its rating on Nimble Storage Inc. The shares have been rated ‘Overweight’ by the firm.

Nimble Storage Inc (NMBL) shares turned negative on Wednesdays trading session with the shares closing down -0.01 points or -0.08% at a volume of 43,49,054. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $12.48. The peak price level was also seen at $12.48 while the days lowest was $12.46. Finally the shares closed at $12.46. The 52-week high of the shares is $12.58 while the 52-week low is $6.18. According to the latest information available, the market cap of the company is $1,108 M.

Nimble Storage Inc(NMBL) last announced its earnings results on Mar 7, 2017 for Fiscal Year 2017 and Q4.Company reported revenue of $117.028M. Analysts had an estimated revenue of $113.610M. Earnings per share were $-0.12. Analysts had estimated an EPS of $-0.14.

Several Insider Transactions has been reported to the SEC. On Jan 18, 2017, Varun Mehta (VP of Product Operations) sold 2,500 shares at $8.17 per share price.Also, On Jan 5, 2017, Anup V Singh (Chief Financial Officer) sold 10,000 shares at $8.00 per share price.On Dec 23, 2016, Suresh Vasudevan (Chief Executive Officer) sold 62,535 shares at $8.05 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.

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