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NMBL

Nimble Storage

$7.86

-1.3801 (-14.94%)

10:35
11/23/16
11/23
10:35
11/23/16
10:35

Analysts defend Nimble Storage after guidance miss

The shares of Nimble Storage (NMBL) are falling after the company reported in-line third quarter results but provided fourth quarter guidance that came in below expectations. Two research firms - Susquehanna and Maxim - defended Nimble's stock, with Susquehanna saying that the company could become a takeover target and Maxim maintaining that it is in the midst of a turnaround that is showing signs of traction. Nimble develops flash memory products. RESULTS: Nimble Storage reported a third quarter loss of (18c) per share, versus the consensus outlook of an (18c) per share loss. The company's revenue was also in-line with expectations. However, Nimble said that it expects to report a Q4 loss of (13c-15c) per share, versus the consensus outlook of a (12c) per share loss. "During Q3, we saw strong momentum for our All Flash arrays as our product value proposition resonated strongly with customers and channel partners," said Nimble's CEO, Suresh Vasudevan, on the company's conference call. According to Vasudevan, the company obtained 217 new All Flash Array customers last quarter. ANALYST DEFENSES: Nimble's All-Flash Array product appears to be "gaining traction," and it should become more popular as resellers get more comfortable with it, according to Susquehanna analyst Mehdi Hosseini. Moreover, investors should not overlook the possibility that Nimble could be acquired, Hosseini believes. He kept a $12 price target and a Positive rating on the shares. "Multiple metrics" indicate that Nimble is turning itself around, wrote Maxim analyst Nehal Chokshi. Specifically, the analyst noted that the company's year-over-year bookings growth rose to 23% last quarter, up from 13% in the previous quarter. Additionally, the company's bookings from small and medium businesses increased 7% year-over-year last quarter, up from a 1% drop in the previous two quarters, noted Chokshi. Furthermore, the analyst continues to believe that Nimble is benefiting from Dell's acquisition of EMC, and he noted that Nimble expects its sales and marketing spending to increase more slowly than its revenue in fiscal 2018. Chokshi kept a $12 price target and a Buy rating on the shares. PRICE ACTION: In morning trading, Nimble tumbled nearly 15% to $7.87 per share.

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NMBL Nimble Storage
$7.86

-1.3801 (-14.94%)

09/29/16
WELS
09/29/16
UPGRADE
WELS
Outperform
Nimble Storage upgraded to Outperform from Market Perform at Wells Fargo
Wells Fargo analyst Maynard Um upgraded Nimble Storage to Outperform saying the risk/reward is favorable at current valuation levels. A "strong pipeline" for Nimble's all-flash array should drive revenue acceleration in FY18 and multiple expansion, Um tells investors in a research note. The analyst raised his price target range for the shares to $10-$11 from $9-$10.
10/03/16
SUSQ
10/03/16
NO CHANGE
Target $12
SUSQ
Positive
Nimble Storage well positioned to gain market share, says Susquehanna
Susquehanna analyst Mehdi Hosseini believes Nimble Storage remains well positioned to continue to gain market share with its dual faceted approach and material operating leverage on the horizon in 2018. Hosseini reiterated his Positive rating and $12 price target on Nimble Storage shares.
11/23/16
MAXM
11/23/16
NO CHANGE
Target $12
MAXM
Buy
Nimble Storage shows multiple signs of turnaround progress, says Maxim
Maxim analyst Nehal Chokshi said multiple metrics, including 5K bookings acceleration and SME bookings acceleration, indicate Nimble Storage's turnaround is progressing, which he believes will become more apparent in next quarter. The company's Lenovo deal and R&D pipeline give him further confidence that Nimble will be a long-term storage player, added Chokshi, who keeps a Buy rating and $12 price target on the shares, which are down about 13% to $8.05 in pre-market trading.
11/23/16
SUSQ
11/23/16
NO CHANGE
Target $12
SUSQ
Positive
Nimble Storage takeover prospects cannot be overlooked, says Susquehanna
Susquehanna analyst Mehdi Hosseini noted Nimble Storage reported relatively in-line Q3 results and guidance. The analyst said that was enough to keep his framework intact as he believes the company is well positioned to continue gaining market share with its Hybrid/All-Flash portfolio. Hosseini also said its prospects as a takeover target for a large player should not be overlooked. Hosseini reiterated his Positive rating and $12 price target on Nimble Storage shares.

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