Nimble Storage (NMBL): Growth Yes, Profits No - RBC
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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.
Shares of Nimble Storage closed at $9.24 yesterday.
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