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Equities researchers at DA Davidson lowered their target price on shares of Gigamon (NASDAQ:GIMO) from $34.00 to $22.50 in a research report issued on Tuesday, American Banking and Market News reports. The firm currently has a “neutral” rating on the stock. DA Davidson’s price objective suggests a potential downside of 14.12% from the stock’s previous close.

A number of other firms have also recently commented on GIMO. Analysts at Barclays cut their price target on shares of Gigamon from $36.00 to $25.00 in a research note on Tuesday. Separately, analysts at Pacific Crest downgraded shares of Gigamon from an “outperform” rating to a “sector perform” rating in a research note on Tuesday. Finally, analysts at Needham & Company LLC initiated coverage on shares of Gigamon in a research note on Thursday, March 20th. They set a “buy” rating and a $44.00 price target on the stock. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Gigamon has a consensus rating of “Hold” and a consensus price target of $33.33.

In other Gigamon news, CTO Patrick Leong unloaded 8,574 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $31.38, for a total value of $269,052.12. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Gigamon (NASDAQ:GIMO) traded down 31.72% on Tuesday, hitting $17.89. 3,927,784 shares of the company’s stock traded hands. Gigamon has a 1-year low of $23.02 and a 1-year high of $41.81. The stock’s 50-day moving average is $32.21 and its 200-day moving average is $31.50. The company’s market cap is $569.5 million.

Gigamon (NASDAQ:GIMO) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.06. The company had revenue of $43.10 million for the quarter, compared to the consensus estimate of $41.98 million. The company’s revenue for the quarter was up 35.1% on a year-over-year basis. Analysts expect that Gigamon will post $0.49 EPS for the current fiscal year.

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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