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Fly News Breaks for March 30, 2015
NMBL
Mar 30, 2015 | 06:41 EDT
Piper Jaffray says shares of Nimble Storage are trading near the company's IPO price of $21 even though it is in a "much stronger" position now than it was back at the IPO. Piper attributes the recent pullback in shares to Nimble's weaker than expected revenue guidance for Q1, venture capital distributions and weakening sentiment in the storage market. The firm sees an attractive entry point at current levels and keeps an Overweight rating on the stock with a $33 price target.
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