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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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August 27, 2014
09:22 EDTNMBLOn The Fly: Pre-market Movers
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07:46 EDTNMBLNimble Storage should be bought by growth investors, says Pacific Crest
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07:28 EDTNMBLNimble Storage hitting on all cylinders, says UBS
UBS said Nimble Storage is hitting on all cylinders following its Q2 earnings. The firm noted its increased market share, higher international bookings, improved gross margins, and additions of new customers. Shares of Nimble Storage are Buy rated with a $40 price target.
August 26, 2014
16:03 EDTNMBLNimble Storage sees Q3 EPS (17c)-(16c), consensus (15c)
Sees Q3 revenue $56M-$58M, consensus $50.54M.
16:02 EDTNMBLNimble Storage reports Q2 EPS (15c), consensus (16c)
Reports Q2 revenue $53.8M, consensus $50.54M.
15:25 EDTNMBLNotable companies reporting after market close
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11:45 EDTNMBLNimble Storage management to meet with Piper Jaffray
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August 22, 2014
08:23 EDTNMBLNimble Storage to report a strong quarter, says Macquarie
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August 21, 2014
06:46 EDTNMBLNimble Storage expected to report beat and raise quarter at Piper Jaffray
Piper Jaffray expects Nimble Storage to report its third consecutive beat and raise quarter when reporting Q2 results on August 26. The firm believes demand has remained strong and reiterates an Overweight rating on the stock with a $47 price target.

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