BMO Capital Raises Price Target on Nimble Storage (NMBL) to $13 Following 2Q Beat

August 24, 2016 7:04 AM EDT
Get Alerts NMBL Hot Sheet
Price: $8.02 -0.5%

Rating Summary:
    12 Buy, 15 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 14 | Down: 11 | New: 8
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BMO Capital reiterated an Outperform rating on Nimble Storage (NYSE: NMBL), and raised the price target to $13.00 (from $10.00), following the company's 2Q earnings report. Revenues and EPS of $97 million and ($0.19) were above consensus estimates of $95 million/($0.20). Guidance was consistent with consensus expectations.

Analyst Tim Long commented, "We believe Nimble’s entry into the AFA market is a game changer for the company and we expect the early success to continue. We continue to gain confidence in Nimble's ability to execute on its strategy, reaccelerate growth and drive operating leverage. Nimble continues to offer perhaps the best combination of growth and value of any stock in our coverage universe and we reiterate our Outperform rating on the shares."

For an analyst ratings summary and ratings history on Nimble Storage click here. For more ratings news on Nimble Storage click here.

Shares of Nimble Storage closed at $8.82 yesterday.

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