Gigamon, Inc. (GIMO): Notes From Management Meetings - William Blair
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William Blair analyst, Jason Adler, reiterated his Outperform rating on shares of Gigamon (NYSE: GIMO) after hosting investor meetings with Chief Executive Officer Paul Hooper on Tuesday. Key Points Include:
- two-thirds of the company’s deals are emanating from security departments (especially good momentum in federal), and increasing recognition within the security ecosystem
-AWS visibility product could serve as a material medium- to long-term catalyst for the business, with the ramp-up beginning in the second half of 2017
- quarterly visibility remains high with a guidance methodology that focuses on backlog build at quarter-end, roughly 85%-90% of revenue each quarter coming from the installed base, and a very high repeat purchase multiple of 102 times on the initial purchase among Gigamon’s top 25 customers (as of the second quarter)
-the market is finally starting to gain belief in the need for a pervasive network visibility solution
The analyst also stated that the tone of business "Gigamon’s business momentum feels strong and unyielding".
The analyst does not currently have a price target.
Shares of Gigamon closed at $45.12 yesterday.
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