Nimble Storage (NMBL) PT, Estimates Bumped at Needham & Company Amid 'Impressive' Q2
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Rating Summary:
3 Buy, 23 Hold, 0 Sell
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Today's Overall Ratings:
Up: 16 | Down: 11 | New: 13
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Needham & Company analyst Richard Kugele reiterated a Strong Buy rating on Nimble Storage (NYSE: NMBL) while raising estimates and his price target of $36.00 (from $35.00) following "impressive" Q2 results with record revenue and margins.
Kugele commented, "Nimble continues to execute well on its plan to 1) drive new customer acquisition; 2) penetrate the top enterprise and service provider accounts; 3) expand internationally; and 4) drive growth within existing customers. On every front, F2Q was a success, with the company having exceeded top line and margin guidance each quarter since it went public in 2013. Looking forward, with an expanded product family (including adaptive flash and the upcoming release of Fibre Channel support) we expect the company to continue to gain share and drive towards operating cash profitability by the end of F16."
The firm raised FY 2015 EPS from ($0.64) to ($0.61) and FY 2016 EPS from ($0.22) to ($0.23).
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 $29.58 yesterday.
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