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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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August 26, 2015
12:47 EDTNMBLOn The Fly: Top stock stories at midday
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10:00 EDTNMBLOn The Fly: Analyst Upgrade Summary
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08:09 EDTNMBLNimble Storage price target lowered to $37 from $40 at UBS
UBS lowered its price target on Nimble Storage to $37 from $40 following Q2 results. UBS reiterated its Buy rating on Nimble shares, citing its revenue guidance beat and its improvement in market share in the large enterprise storage space.
08:04 EDTNMBLNimble Storage upgraded to Buy at Wunderlich on improved visibility
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07:16 EDTNMBLNimble Storage upgraded to Buy from Hold at Wunderlich
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07:01 EDTNMBLNimble Storage reported another 'solid' quarter, says Summit Research
Summit Research analyst Srini Nandury called Nimble Storage's (NMBL) quarterly results "solid," highlighting the company's report of strong demand, higher deal sizes and addition of an all-time high 690 new customers. The firm, which said it expects Nimble to gain share from both EMC (EMC) and NetApp (NTAP) "in short order," reiterates its Buy rating and $40 price target on Nimble shares.
August 25, 2015
17:18 EDTNMBLNimble Storage says win rates remain consistent despite price competition
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17:08 EDTNMBLNimble Storage says storage market continues to experience disruption
Nimble CEO Suresh Vasudevan says "major architectural shifts are continuing to disrupt the storage market resulting in significant year-over-year revenue declines" for industry incumbents. Says SmartStack solution "gaining more and more steam," says more than doubled SmartStack customers y/y. Nimble executives are speaking on the company's Q2 earnings conference call.
16:03 EDTNMBLNimble Storage sees Q3 EPS (9c)-(8c), consensus (7c)
Sees Q3 revenue $86M-$88M, consensus $86.02M.
16:02 EDTNMBLNimble Storage reports Q2 EPS (10c), consensus (11c)
Reports Q2 revenue $80.1M, consensus $78.57M.
15:00 EDTNMBLNotable companies reporting after market close
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12:31 EDTNMBLNimble Storage technical notes ahead of results
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August 20, 2015
14:39 EDTNMBLEarnings Watch: Hewlett-Packard reports ahead of company split
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August 19, 2015
12:53 EDTNMBLEarnings Watch: Analysts mostly bearish on NetApp ahead of Q1 earnings
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August 17, 2015
06:04 EDTNMBLNetApp downgraded to Sell from Hold at Summit Research
Summit Research analyst Srini Nandury downgraded NetApp (NTAP) to Sell saying dynamics in the storage industry as well as the company's Cluster ONTAP product transition will make revenue growth "elusive in the near-term." Weaker storage spending and continued problems with getting customers to upgrade to Cluster ONTAP could drive consensus estimates lower from current levels, Nandury tells investors in a research note. Further, the analyst believes NetApp continues to lose high sales performers to competitors such as Nimble Storage (NMBL), Pure Storage, Tegile and Tintri. He expects the company's FY16 revenue to decline 6% on top of the 3% decline in FY15, with only modest growth in FY17. Nandury cut his price target for NetApp shares to $28 from $32. The stock closed Friday up 13c to $30.75.

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