Nimble Storage Now A 'Strong Buy,' Could Surge By Double Digits, Vetr Crowd Says

Shares of Nimble Storage Inc NMBL experienced plenty of volatility over 2016, but are ultimately flattish. However, over the past couple of weeks, the stock rose more than 27 percent, mostly driven by the announcement of strong first quarter financial results on May 24.

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Following the recent strength, the Vetr crowd seems to believe the rally will continue for a while, as indicated by its average price target of $10.14, which implies an upside potential of more than 10 percent from current valuations.

Seeking to better reflect this large upside potential, the Vetr community decided upgrade its rating on shares of Nimble Storage on Monday, from 4.0 Stars (Buy) to 4.5 Stars (Strong Buy) - out of a possible 5.0 Stars rating.

Moreover, it should be noted that 85 percent of the crowd’s ratings are bullish.

Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.