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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
Jul 2017DoughertyUpgradesHoldBuy
May 2017DA DavidsonDowngradesBuyNeutral
Apr 2017William BlairDowngradesOutperformMarket Perform

View More Analyst Ratings for GIMO
View the Latest Analyst Ratings

Posted-In: Analyst Color Earnings News Analyst Ratings

 

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