New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
June 10, 2014
10:00 EDTNMBLNimble Storage declines ahead of lock-up expiration
Shares of Nimble Storage (NMBL), which provides data storage platforms, are falling this morning ahead of the company's lock-up expiration tomorrow. At that time, about 62M of the company's shares can be sold for the first time, according to research firm PiperJaffray, though the firm does not expect much more than 6M of the shares to be sold. WHAT'S NEW: Approximately 62M shares of Nimble Software can be sold tomorrow without the restrictions that were put in place by the company's initial public offering, PiperJaffray analyst Andrew Nowinski wrote in a note to investors on May 30. The first day on which shares can be sold following restrictions is referred to as the "lock-up expiration" day. Only 6M of the shares set to be freed up by the lock-up expiration are held by Nimble's employees, as the company's management and venture capitalists hold 56M of the shares, according to Nowinski. Consequently, the analyst believes that "any selling pressure associated with the lockup expiration will be isolated to the 6M shares held by [Nimble's] employees." WHAT'S NOTABLE: On May 29, Nimble reported stronger than expected first quarter results. Nowinski called the results solid and kept an Overweight rating on the shares. Following Nimble's report, analysts at Stifel on May 30 said that the company added more customers than the firm anticipated last quarter, while the number of deals over $100K that it signed jumped 122% year-over-year. Stifel cut its price target on the stock to $40 from $60 to reflect multiple compression in high growth tech stocks, but kept a Buy rating on the shares. Less upbeat on Nimble today was Barclays, which initiated coverage of the stock with a $28 price target and Equalweight rating. PRICE ACTION: In early trading, Nimble Storage dropped 88c, or 3.5%, to $24.36.
News For NMBL From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
June 18, 2015
10:01 EDTNMBLOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Arch Capital (ACGL) downgraded to Market Perform from Outperform at BMO Capital... Bankrate (RATE) downgraded on revenue headwinds at SunTrust... Carter's (CRI) downgraded to Neutral from Buy at Sterne Agee CRT... Lumenis (LMNS) downgraded to Market Perform from Outperform at Wells Fargo... Nimble Storage (NMBL) downgraded to Hold from Buy at Wunderlich... Southwest (LUV) downgraded to Underweight from Overweight at Barclays... Spirit Airlines (SAVE) downgraded to Neutral from Outperform at Credit... Webster Financial (WBS) downgraded to Underweight from Equal Weight at Morgan Stanley.
07:55 EDTNMBLNimble Storage downgraded to Hold from Buy at Wunderlich
Wunderlich downgraded Nimble Storage (NMBL) to Hold citing the recent appreciation in shares, which the firm attributes to "heightened awareness of acquisition potential." The firm views Nimble as a "nice fit" for Cisco (CSCO), but believes some amount of a takeover premium is priced into the stock. It keeps a $33 price target for shares.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use