Nimble Storage’s Lock-Up Period Will Expire Tomorrow (NASDAQ:NMBL)

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Nimble Storage’s (NASDAQ:NMBL) lock-up period will expire on Wednesday, June 11th. Nimble Storage had issued 8,000,000 shares in its IPO on December 13th, AmericanBankingNews.com reports. The total size of the offering was $168,000,000 based on an initial share price of $21.00. After the expiration of Nimble Storage’s lock-up period, company insiders and major shareholders will be able to sell their shares of the company.

A number of analysts have recently weighed in on NMBL shares. Analysts at Barclays initiated coverage on shares of Nimble Storage in a research note on Tuesday. They set an “equal weight” rating and a $28.00 price target on the stock. Separately, analysts at Sterne Agee raised their price target on shares of Nimble Storage from $43.00 to $44.00 in a research note on Friday, May 30th. They now have a “buy” rating on the stock. Finally, analysts at Piper Jaffray reiterated an “overweight” rating on shares of Nimble Storage in a research note on Friday, May 30th. They now have a $47.00 price target on the stock, down previously from $50.00. One investment analyst has rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Nimble Storage has a consensus rating of “Buy” and an average target price of $38.57.

Shares of Nimble Storage (NASDAQ:NMBL) traded down 4.69% on Tuesday, hitting $24.0573. The stock had a trading volume of 151,760 shares. Nimble Storage has a 1-year low of $19.17 and a 1-year high of $58.00. The stock’s 50-day moving average is $25.74 and its 200-day moving average is $37.40. The company’s market cap is $1.720 billion.

Nimble Storage (NASDAQ:NMBL) last released its earnings data on Thursday, May 29th. The company reported ($0.14) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.16) by $0.02. The company had revenue of $46.50 million for the quarter, compared to the consensus estimate of $43.70 million. Nimble Storage’s revenue was up 110.4% compared to the same quarter last year. On average, analysts predict that Nimble Storage will post $-0.58 earnings per share for the current fiscal year.

Nimble Storage, Inc provides its customers with data storage platform. The Company focuses on research and development of its technology platform, developing new products and enhancing its cloud-based management services.

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