Analyst Price Target Update on Nimble Storage (NYSE:NMBL)

Nimble Storage (NYSE:NMBL): According to 11 Analysts, The short term target price has been estimated at $ 10.57.The target price could deviate by a maximum of $2.34 from the forecast price. In the near term, the target price could hit a high of $14 and a low of $ 8.

Many analysts have stated their opinion on the company shares. BTIG Research initiates coverage on Nimble Storage (NYSE:NMBL) The shares have been rated Neutral. The rating by the firm was issued on April 26, 2016. Company shares have received an average consensus rating of Hold for the current week

On the companys insider trading activities, The Securities and Exchange Commission has divulged that Kennelly Jerry M, director of Nimble Storage Inc, had unloaded 5,000 shares at an average price of $9.15 in a transaction dated on June 1, 2016. The total value of the transaction was worth $45,750.

Nimble Storage (NYSE:NMBL) stock ended Monday session in the red zone in a volatile trading. The stock closed down 0.11 points or 1.29% at $8.41 with 991,056 shares getting traded. Post opening the session at $8.43, the shares hit an intraday low of $8.2 and an intraday high of $8.67 and the price was in this range throughout the day. The company has a market cap of $708 million and the number of outstanding shares have been calculated to be 84,200,000 shares. The 52-week high of Nimble Storage (NYSE:NMBL) is $32.16 and the 52-week low is $5.64.

Nimble Storage, Inc. (Nimble Storage) engineers and delivers its customers with data storage platform. The Company has designed and sells a flash-optimized storage platform, Adaptive Flash. With the combination of the Companys file system, Cache Accelerated Sequential Layout (CASL), and its cloud-based storage management and support service, InfoSight, the Companys platform serves an array of enterprises and cloud-based service providers, and the Companys software and storage systems handle mainstream applications, including virtual desktops, databases, e-mail, collaboration and analytics. It enables information technology (IT) organizations to predict, manage and deliver the storage required to improve business applications and workloads across their IT environments. Its end-customers span a range of industries, such as cloud-based service providers, education, financial services, healthcare, manufacturing, state and local government and technology.

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