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Gigamon Shares Tumble 9% Following Bottom-Line Q2 Miss; Analysts Lower Targets

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Gigamon (NASDAQ: GIMO) shares gapped lower Friday morning following a worse-than-expected quarterly bottom-line figure posted after the close Thursday evening. The price has tumbled much lower over the course of Friday's intraday session as a number of analysts are out with updated and seemingly more-bearish commentary.

The company issued a second-quarter adjusted loss of $0.04 per share on sales of $34.9 million. Analysts had been expecting a loss of about $0.02 per share on sales of about $34.6 million. Guidance was not given by Gigamon management.

Out with updated models Friday morning:

  • Goldman Sachs - target lowered from $14 to $13, Neutral maintained;
  • Barclays - target lowered from $16 to $14, Equalweight maintained;
  • Needham - target lowered from $20 to $18, Buy maintained; and,
  • Credit Suisse - target lowered from $19 to $18, Outperform maintained.

Shares of Gigamon last traded at $11.27, down nearly nine percent from Thursday's closing price.

Latest Ratings for GIMO

DateFirmActionFromTo
Dec 2016DoughertyInitiates Coverage OnBuy
Dec 2016DA DavidsonUpgradesNeutralBuy
Oct 2016Bank of AmericaUpgradesNeutralBuy

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Posted-In: Analyst Color Earnings News Analyst Ratings

 

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