Nimble Storage (NMBL): Growth Yes, Profits No - RBC

November 23, 2016 8:43 AM EST
Get Alerts NMBL Hot Sheet
Price: $8.43 +0.84%

Rating Summary:
    12 Buy, 15 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 21 | Down: 31 | New: 25
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RBC Capital analyst, Amit Daryanani, reiterated his Sector Perform rating on shares of Nimble Storage (NYSE: NMBL) after the company reported Oct-qtr in-line vs. Street and guided Jan-qtr to $112 to $115M/-$0.13 to -$0.15, below EPS expectations.

The analyst is cognizant that NMBL demonstrates impressive double-digit growth across the model, but he stays on the sidelines until there is a more cohesive path towards reduced losses and eventual profits given the $100M+ revenue run-rate currently.

NMBL continues to see steady increase in: All Flash Arrays (AFA) (now running at close to $100M run-rate), deals over $250K (accounted for 24% of total bookings +75% y/y) and AFA bookings (30% of total array bookings).

No change to the $10 PT until he sees a combination of revenue growth AND profits at the company.

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 $9.24 yesterday.



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