Gigamon (GIMO) Releases Quarterly Earnings Results, Beats Estimates By $0.08 EPS
Gigamon (NASDAQ:GIMO) released its earnings data on Monday. The company reported $0.18 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.10 by $0.08, Stock Ratings Network.com reports. The company had revenue of $39.00 million for the quarter, compared to the consensus estimate of $37.37 million. Gigamon’s revenue was up 51.8% compared to the same quarter last year.
Shares of Gigamon (NASDAQ:GIMO) traded up 5.57% on Monday, hitting $32.62. 778,416 shares of the company’s stock traded hands. Gigamon has a one year low of $23.02 and a one year high of $41.81. The stock has a 50-day moving average of $36.64 and a 200-day moving average of $33.77. The company’s market cap is $1.013 billion.
In other Gigamon news, CTO Patrick P. Leong sold 420,000 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $36.77, for a total value of $15,443,400.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
A number of research firms have recently commented on GIMO. Analysts at Pacific Crest initiated coverage on shares of Gigamon in a research note to investors on Monday. They set an “outperform” rating and a $38.00 price target on the stock. On the ratings front, analysts at William Blair initiated coverage on shares of Gigamon in a research note to investors on Monday, October 28th. They set an “outperform” rating on the stock. Finally, analysts at Raymond James downgraded shares of Gigamon from an “outperform” rating to a “market perform” rating in a research note to investors on Monday, September 16th. They now have a $36.00 price target on the stock. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $33.14.
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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