Needham & Company Reiterates Buy on Nimble Storage (NMBL) Following 2Q Report and Guidance

August 24, 2016 7:43 AM EDT
Get Alerts NMBL Hot Sheet
Price: $7.72 +3.76%

Rating Summary:
    12 Buy, 15 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 11 | Down: 31 | New: 42
Trade NMBL Now!
Join SI Premium – FREE

Find out which companies are about to raise their dividend well before the news hits the Street with's Dividend Insider Elite. Sign-up for a FREE trial here.

Needham & Company reiterated a Buy rating and $12.00 price target on Nimble Storage (NYSE: NMBL) following the company's 2Q earnings report. NMBL posted revenue of $97.1M and a non-GAAP loss per share of ($0.19), exceeding consensus estimations of $94.7M and a loss of ($0.20). F3Q guidance is for revenue of $100-103M, and a non-GAAP operating loss of $14-16M, which equates to a non-GAAP loss per share of $0.17-0.19 on 86M shares vs. consensus of $100.9M/ ($0.17).

Analyst Richard Kugele commented, "Continuing on the improvements of F1Q, Nimble posted strong F2Q results with traction seen in all three critical areas: 1) AFA growth; 2) further enterprise penetration; and 3) accelerating growth within cloud service providers. We are encouraged by the return of Nimble’s momentum and continue to view the name as a core holding for investors of next-gen datacenter. We reiterate our Buy and $12 price target."

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.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS Change, Analyst EPS View

Related Entities

Needham & Company, Earnings

Add Your Comment