NMBL
Nimble Storage, Inc.NYSE
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  • Jun. 18, 2015, 8:30 AM
    • Though believing Nimble Storage (NYSE:NMBL) could be a "nice fit" for Cisco, Wunderlich's Matt Robinson thinks some M&A hopes are priced in following a rally that has seen the hybrid storage array vendor rise 52% from a March low of $20.82. He's downgrading to Hold, while keeping his $33 target.
    • NMBL -1.6% premarket to $31.10. Short-covering has likely contributed to Nimble's rally: 8.4M shares (22% of the float) were shorted as of May 29.
    • Last week: Summit speculates EMC, Cisco, or NetApp could bid for Nimble
    | Jun. 18, 2015, 8:30 AM
  • Jun. 9, 2015, 1:42 PM
    • Summit Research's Srini Nandury thinks Nimble Storage's (NYSE:NMBL) recent rally has been fueled by M&A hopes ... and considers them justified. He believes Cisco (NASDAQ:CSCO), EMC, and NetApp (NASDAQ:NTAP) could be among the larger OEMs willing to bid for the hybrid storage array upstart.
    • Nandury: "Given that Nimble is one of the best Hybrid storage assets in the market, any buyout offer for Nimble will likely trigger a bidding war as we had seen previously with both Data Domain and 3Par. And, given that Nimble is executing solidly in both SMB and enterprise storage environments, and is expected to roll out both NAS and Object storage in the near-term (12-18 months) and will most likely get acquired, we reiterate our BUY rating on the stock and maintain our $40 PT."
    • EMC has bought flash array vendors XtremIO and DSSD; Cisco has bought flash vendor Whiptail; and hard drive giants Seagate and Western Digital have also used M&A to expand their flash offerings. NetApp has relied more on internal R&D to flesh out its product line, but the company's recent top-line woes and CEO change have fueled speculation it could turn to M&A.
    • Of note: With a market cap of $2.2B (a deal premium could bring it near $3B), Nimble would be digestible for larger industry players, but not cheap.
    | Jun. 9, 2015, 1:42 PM | 4 Comments