Why Has BMO Capital Markets Given Nimble Storage (NYSE:NMBL) a $11.00 Price Target
In an interesting research report announced on 11 December, BMO Capital Markets analyst has today have commenced coverage coverage for Nimble Storage (NYSE:NMBL) shares with a “Market Perform” rating. The Estimated Target Price is exactly $11.00.
From a total of 19 analysts covering Nimble Storage (NYSE:NMBL) stock, 19 rate it a ”Buy”, 1 a “Sell”, and 5 a ”Hold”. This means that 76% of the ratings are positive. The highest target price is $27 while the lowest target price is $11. The mean of all analyst targets is $17.26 with a 160.04% above today’s ($10.36) stock price. Nimble Storage was the topic of 36 analyst reports since July 28, 2015 according to the firm StockzIntelligence Inc. JP Morgan initiated shares on December 4 with “Overweight” rating. Maxim Group maintained shares with “Hold” rating and $15 target share price in a report from a November 20. Monness Crespi & Hardt downgraded NMBL stock in a recent report from November 22 to “Neutral” rating. Barclays Capital downgraded the rating on November 20. Barclays Capital has a “Equal-Weight” rating and a $15 price target on shares. Finally, Oppenheimer downgraded the stock to “Perform” rating in a report issued on a November 20.
Approximately 540,774 shares of stock traded hands. Nimble Storage Inc (NYSE:NMBL) has declined 55.42% since May 8, 2015 and is downtrending. It has underperformed by 52.40% the S&P500.
The overall sentiment of institutions has decreased to 1.2 in Q2 2015. Its down 0.02, from 1.22 in 2015Q2. The ratio dived, as 29 institutions have sold all the shares of Nimble Storage Inc that they owned while 41 funds have taken shares off the table. 26 funds have purchased shares for the first time while 58 added to their positions. These institutions now hold 51.29 million shares or 9.66% less than the 56.77 million shares they owned in 2015Q2.
The Fund Sc Xii Management Llc currently is holding shares equating to 54.99% of its total portfolio in Nimble Storage Inc representing a total of 5.81 million shares. Another fund,Sc Us (Ttgp) Ltd., is holding a total of 662,700 shares equating to 7.02% of their holdings. Additionally, Glynn Capital Management Llc has a 780,155 share stake in Nimble Storage Inc which represents 6.22% of their total portfolio. The Fund, Hamilton Lane Advisors Llc, based out of Pennsylvania, has also built up a stake in the stock, which represents a total of 4.87% of their total portfolio. Finally Tremblant Capital Group, a fund which is based in the state of New York reported a total holdings of 2.14 million shares.
Insider activity is a very important aspect to track on any stock. Going back to March 4, 2015, shareholders of Nimble Storage Inc have witnessed 0 insider buys, and a total of 36 insider sales equating to a net activity of approximately $16.96 million . Leary Daniel sold 15,000 shares worth approximately $339,547. Vasudevan Suresh sold 3,494 shares worth approximately $78,184. Maheshwari Umesh sold 9,520 shares worth approximately $239,312. Singh Anup V sold 6,849 shares worth approximately $170,617. The company insider Mehta Varun sold 9,476 shares worth $235,481.
Nimble Storage, Inc. engineers and delivers its clients with data storage platform. The company has a market cap of $856.15 million. The Firm has designed and sells a flash-optimized storage platform, Adaptive Flash. It currently has negative earnings. With the combination of the Company’s file system, Cache Accelerated Sequential Layout (CASL), and its cloud storage management and support service, InfoSight, the Company’s platform serves an array of enterprises and cloud service providers, and the Company’s software and storage systems handle mainstream applications, including virtual desktops, databases, e-mail, collaboration and analytics.
According to Zacks Investment Research, “Nimble Storage, Inc. offers flash-optimized hybrid storage platform. The company’s software and storage systems handle various mainstream applications which include virtual desktops, databases, email, collaboration and analytics. It serves industries comprising cloud-based service providers, education, financial services, healthcare, manufacturing, state and local government and technology. Nimble Storage, Inc. is based in San Jose, California.” Get a free copy of the Zacks research report on Nimble Storage Inc (NMBL).