Gigamon Inc (GIMO) reported quarterly earnings results on Thursday, Jul-28-2016. The company said it had a profit of $0.30 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.06. Analysts had a consensus of $0.24. The company posted revenue of $75.10 million in the period, compared to analysts expectations of $70.10 million. The company’s revenue was up 46.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.16 EPS.
Many Wall Street Analysts have commented on Gigamon Inc. Company shares were Reiterated by Needham on Jul 18, 2016 to “Buy”, Firm has raised the Price Target to $ 50 from a previous price target of $40 .Gigamon Inc was Initiated by Northland Capital to “Outperform” on Jun 22, 2016.
Gigamon Inc closed down -0.26 points or -0.62% at $41.71 with 8,42,445 shares getting traded on Thursday. Post opening the session at $42.18, the shares hit an intraday low of $41.12 and an intraday high of $42.59 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.
In a different news, on Jul 11, 2016, Mike Burns (Chief Financial Officer) sold 16,000 shares at $40.00 per share price. According to the SEC, on May 31, 2016, Sachi Sambandan (Sr. VP Engineering) sold 14,400 shares at $31.03 per share price. On May 31, 2016, Helmut Wilke (Sr. VP Worldwide Sales) sold 8,000 shares at $31.09 per share price, according to the Form-4 filing with the securities and exchange commission.
Gigamon Inc. offers a solution that delivers visibility and control of traffic across networks. The Company’s Unified Visibility Fabric solution consists of a distributed system of nodes (or a Fabric) that enables a level of visibility modification and control of network traffic. The Visibility Fabric spans physical appliances virtual nodes and traffic from remote sites to enable visibility of network infrastructures. Its Fabric enables IT organizations to gain visibility into infrastructure by forwarding selected traffic of interest from network and server infrastructure to management analysis compliance and security tools. Its product offering includes a single product family comprising its GigaVUE GigaSECURE GigaSMART and GigaTAP products. Its GigaSMART platform provides a range of software applications to modify manipulate transform filter correlate and sample network traffic.