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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
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October 10, 2014
10:01 EDTNMBLOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: 2U (TWOU) initiated with an Outperform at Pacific Crest... Bloomin' Brands (BLMN) initiated with an Outperform at BMO Capital... Brinker (EAT) initiated with a Market Perform at BMO Capital... Buffalo Wild Wings (BWLD) initiated with an Outperform at BMO Capital... Chipotle (CMG) initiated with a Market Perform at BMO Capital... Chuy's (CHUY) initiated with a Market Perform at BMO Capital... Darden (DRI) initiated with a Market Perform at BMO Capital... EMC (EMC) initiated with a Buy at Jefferies... EPR Properties (EPR) initiated with a Buy at BofA/Merrill... HP (HPQ) initiated with a Hold at Jefferies... IBM (IBM) initiated with an Underperform at Jefferies... McDermott (MDR) initiated with an In-Line at Imperial Capital... NetApp (NTAP) initiated with a Hold at Jefferies... New Residential (NRZ) initiated with a Neutral at Piper Jaffray... Nimble Storage (NMBL) initiated with a Buy at Jefferies... Noodles & Company (NDLS) initiated with an Outperform at BMO Capital... PDC Energy (PDCE) initiated with an Overweight at Stephens... Panera Bread (PNRA) initiated with a Market Perform at BMO Capital... Pioneer Natural (PXD) initiated with an Outperform at Imperial Capital... Resource America (REXI) initiated with a Buy at MLV & Co.... Rex Energy (REXX) initiated with an Overweight at Stephens... Seagate (STX) initiated with a Buy at Jefferies... Silicon Motion (SIMO) initiated with a Buy at Brean Capital... Texas Roadhouse (TXRH) initiated with a Market Perform at BMO Capital... W.P. Carey (WPC) initiated with a Neutral at BofA/Merrill... Wayfair (W) initiated with a Buy at Janney Capital...Western Digital (WDC) initiated with a Buy at Jefferies... Yelp (YELP) initiated with a Buy at Sterne Agee.
October 9, 2014
16:59 EDTNMBLJefferies initiates IT Hardware space, names Western Digital top pick
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16:22 EDTNMBLNimble Storage initiated with a Buy at Jefferies
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11:17 EDTNMBLNimble Storage management to meet with Oppenheimer
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