Wells Fargo Downgrades Nimble Storage (NMBL) to Market Perform

Wells Fargo downgraded Nimble Storage (NYSE: NMBL) from Outperform to Market Perform and lowers their valuation range to $12-$13 from $31-$33. Decelerating growth to result in materially lower multiple, the analyst said. Also they see very limited visibility looking forward.

Analyst Maynard Um lowered F16 rev/EPS to $321.3M/($0.46) from $339.9MM/($0.27) and F17 to $397.8M/($0.46) from $472.9MM/$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 $20.39 yesterday.

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