Gigamon Stock Rating Lowered by Raymond James (GIMO)
Gigamon (NASDAQ:GIMO) was downgraded by Raymond James from an “outperform” rating to a “market perform” rating in a research note issued on Monday, TheFlyOnTheWall.com reports.
Shares of Gigamon (NASDAQ:GIMO) traded down 3.72% during mid-day trading on Monday, hitting $38.80. 124,818 shares of the company’s stock traded hands. Gigamon has a 52 week low of $23.02 and a 52 week high of $40.41. The stock’s 50-day moving average is $35.90 and its 200-day moving average is $32.31. The company’s market cap is $1.182 billion.
Gigamon (NASDAQ:GIMO) last issued its quarterly earnings data on Monday, July 29th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.09. The company had revenue of $32.40 million for the quarter, compared to the consensus estimate of $30.91 million. The company’s revenue for the quarter was up 44.0% on a year-over-year basis. On average, analysts predict that Gigamon will post $0.35 earnings per share for the current fiscal year.
GIMO has been the subject of a number of other recent research reports. Analysts at Credit Suisse raised their price target on shares of Gigamon (NASDAQ:GIMO) from $27.00 to $32.00 in a research note to investors on Tuesday, July 30th. They now have a “neutral” rating on the stock. Separately, analysts at Barclays Capital raised their price target on shares of Gigamon (NASDAQ:GIMO) from $32.00 to $35.00 in a research note to investors on Tuesday, July 30th. They now have an “equal weight” rating on the stock. Finally, analysts at Goldman Sachs Group Inc. initiated coverage on shares of Gigamon (NASDAQ:GIMO) in a research note to investors on Monday, July 8th. They set a “neutral” rating and a $27.00 price target on the stock.
Five analysts have rated the stock with a hold rating, The stock presently has an average rating of “Hold” and an average target price of $31.21.
Gigamon Inc has developed solution that delivers visibility and control of traffic across networks. Its solution, which it refers to as its traffic visibility fabric, consists of distributed network appliances that provide an advanced level of network traffic intelligence.
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