Gigamon Inc. (GIMO) Given a $70.00 Price Target by Rosenblatt Securities Analysts
Gigamon Inc. (NYSE:GIMO) has been assigned a $70.00 price objective by analysts at Rosenblatt Securities in a note issued to investors on Monday. The firm presently has a a “buy” rating on the stock. Rosenblatt Securities’ price target suggests a potential upside of 21.85% from the company’s previous close.
Other research analysts have also issued reports about the company. Zacks Investment Research raised Gigamon from a “hold” rating to a “buy” rating and set a $62.00 target price on the stock in a research report on Wednesday, September 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 target price (up from $40.00) on shares of Gigamon in a research report on Monday, July 18th. TheStreet raised Gigamon from a “hold” rating to a “buy” rating in a research report on Thursday, July 28th. Bank of America Corp. raised Gigamon from a “neutral” rating to a “buy” rating and increased their target price for the stock from $48.00 to $61.00 in a research report on Thursday, October 13th. Finally, Stifel Nicolaus initiated coverage on Gigamon in a research report on Tuesday, August 30th. They issued a “hold” rating on the stock. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $56.71.
Shares of Gigamon (NYSE:GIMO) opened at 57.45 on Monday. The stock has a market capitalization of $2.08 billion, a P/E ratio of 47.05 and a beta of 1.75. Gigamon has a one year low of $21.23 and a one year high of $59.40. The firm’s 50-day moving average price is $53.24 and its 200-day moving average price is $43.15.
Gigamon (NYSE:GIMO) last issued its earnings results on Thursday, October 27th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.05. The business had revenue of $83.50 million for the quarter, compared to analyst estimates of $79.56 million. Gigamon had a return on equity of 7.15% and a net margin of 15.56%. The business’s quarterly revenue was up 47.4% on a year-over-year basis. During the same period last year, the company posted $0.22 EPS. Equities research analysts anticipate that Gigamon will post $1.26 EPS for the current fiscal year.
In other news, insider Shehzad Merchant sold 3,818 shares of the firm’s stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $45.24, for a total transaction of $172,726.32. Following the completion of the sale, the insider now directly owns 66,447 shares in the company, valued at $3,006,062.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mike Burns sold 3,480 shares of the firm’s stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $45.16, for a total value of $157,156.80. Following the sale, the chief financial officer now owns 80,117 shares of the company’s stock, valued at $3,618,083.72. The disclosure for this sale can be found here. Insiders own 9.66% of the company’s stock.
Several hedge funds have recently made changes to their positions in GIMO. Moody Aldrich Partners LLC acquired a new stake in shares of Gigamon during the second quarter valued at $628,000. Bank of Montreal Can acquired a new stake in shares of Gigamon during the second quarter valued at $13,572,000. Old Mutual Global Investors UK Ltd. increased its stake in shares of Gigamon by 136.8% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 56,969 shares of the company’s stock valued at $2,130,000 after buying an additional 32,915 shares in the last quarter. Nordea Investment Management AB acquired a new stake in shares of Gigamon during the second quarter valued at $565,000. Finally, Eagle Asset Management Inc. acquired a new stake in shares of Gigamon during the second quarter valued at $8,319,000. Institutional investors own 77.03% of the company’s stock.
Gigamon Inc offers solutions that deliver visibility and control of traffic across networks. The Company’s Visibility Fabric solution consists of a distributed system of nodes that enable a level of visibility, modification and control of network traffic. Its GigaSECURE Security Delivery Platform enables the delivery of network, data as a service, for multiple security tools.
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