Gigamon, Inc. (GIMO): Setting Up For A Beat And Raise - Needham
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Needham & Company analyst, Alex Henderson, reiterated his Buy rating on shares of Gigamon (NYSE: GIMO) along with the price target of $52 after meeting with management. The analyst believes that GIMO is set up well for another beat and raise quarter but more importantly, a strong CY17. He noted that management seems very confident, and the trends and commentary sound robust.
Four things drive the analyst's thinking: 1) the Public Cloud/hybrid cloud capabilities are only in beta but they appear to be far exceeding expectations and we think could turn into the next big thing for GIMO; 2) Security companies are increasingly viewing GIMO as a strategically critical partner; 3) GIMO is poised with a robust flow of new products and features in several tranches of product launches that are looming; and finally 4) Service Providers adopting NFV are finding GIMO critical for their subscriber management and application performance.
Shares of Gigamon closed at $45.04 yesterday.
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