Gigamon Rating Increased to Buy at Goldman Sachs Group Inc. (GIMO)
Gigamon (NASDAQ:GIMO) was upgraded by equities researchers at Goldman Sachs Group Inc. from a “neutral” rating to a “buy” rating in a research report issued on Friday, TheFlyOnTheWall.com reports. The firm currently has a $38.00 target price on the stock, up from their previous target price of $37.00. Goldman Sachs Group Inc.’s price target indicates a potential upside of 24.75% from the stock’s previous close.
Shares of Gigamon (NASDAQ:GIMO) traded up 8.71% on Friday, hitting $30.46. The stock had a trading volume of 805,263 shares. Gigamon has a 52 week low of $23.02 and a 52 week high of $41.81. The stock’s 50-day moving average is $28.87 and its 200-day moving average is $32.54. The company’s market cap is $946.9 million.
Gigamon (NASDAQ:GIMO) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.18 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.10 by $0.08. The company had revenue of $39.00 million for the quarter, compared to the consensus estimate of $37.37 million. The company’s revenue for the quarter was up 51.8% on a year-over-year basis. On average, analysts predict that Gigamon will post $0.45 earnings per share for the current fiscal year.
GIMO has been the subject of a number of other recent research reports. Analysts at DA Davidson initiated coverage on shares of Gigamon in a research note to investors on Friday, December 13th. They set a “neutral” rating and a $28.00 price target on the stock. Separately, analysts at Barclays cut their price target on shares of Gigamon from $37.00 to $35.00 in a research note to investors on Tuesday, November 5th. They now have an “equal weight” rating on the stock. Finally, analysts at Pacific Crest initiated coverage on shares of Gigamon in a research note to investors on Monday, November 4th. They set an “outperform” rating and a $38.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $33.97.
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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