Gigamon, Inc. (GIMO): Setting Up For A Beat And Raise - Needham

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.

For an analyst ratings summary and ratings history on Gigamon click here. For more ratings news on Gigamon click here.

Shares of Gigamon closed at $45.04 yesterday.

You May Also Be Interested In

• Wells Fargo Upgrades Kroger (KR) to Overweight, 'Building Catalysts Point to Attractive Stock Setup'
• Duke Energy (DUK) PT Lowered to $99 at BMO Capital
• Deutsche Bank: We continue to worry about the setup for TSLA earnings