Boston, MA 07\/10\/2014 (wallstreetpr) \u2013 Gigamon Inc (NYSE:GIMO)<\/b> no longer thinks that its original 2Q2014 revenue guidance is tenable, especially given that the company was unable to close deals in its pipeline in the quarter. As such, CEO Paul Hooper had little to say on the development but provide a revised revenue expectation that suggests a lower figure than was originally projected.<\/p>\n
The company expects 2Q revenue in the range of $35 million. It originally projected revenue between $38 and $42 million for the quarter. It reported revenue of $31.80 million in 1Q, ahead of the consensus estimate of $31.30 million. Revenue was up on a year-over-year basis.<\/p>\n
The adjustment of the revenue guidance left a sour taste in the mouths of investors such that the stock of <\/strong>Gigamon Inc (NYSE:GIMO) tumbled more than 32 percent to lose nearly $6 per share in the last session.<\/p>\n EPS estimates flat in weeks<\/b><\/p>\n Wall Street has also been quite on the stock of Gigamon in terms of earnings estimate. Action on the company\u2019s full-year earnings estimate on the stock remained flat over the past few weeks such that even the consensus estimate hasn\u2019t seen a trend. That development is discouraging, which means investors should keep a close eye on the stock especially on the earnings estimate given the recent decline.<\/p>\n Gigamon Inc (NYSE:GIMO) carries a consensus rating of a Hold and an average price target of $21.99. That follows comments from at least 11 analysts of which one has it on a Sell list, nine on a Hold and two on a Buy.<\/p>\n Massive price cuts<\/b><\/p>\n Some of the notable bearish rating firms that have recently commented on the stock include DA Davidson, which reduced it to Neutral from a Buy. They also almost halved their price target on the stock, setting $13 from the previous $22.50.<\/p>\n The stock was also reduced at Goldman Sachs Group Inc (NYSE:GS)<\/b>, which chopped it to Neutral from a Buy and slashed their price target from $29 to $14.<\/p>\n","protected":false},"excerpt":{"rendered":" Boston, MA 07\/10\/2014 (wallstreetpr) \u2013 Gigamon Inc (NYSE:GIMO) no longer thinks that its original 2Q2014 revenue guidance is tenable, especially given that the company was […]<\/p>\n","protected":false},"author":15,"featured_media":27164,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[2236,263],"tags":[5976,1865,5977,734],"stock_ticker":[],"class_list":["post-27162","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-technology","tag-gigamon-inc-nysegimo","tag-goldman-sachs-group-inc-nysegs","tag-nysegimo","tag-nysegs","entry"],"acf":[],"yoast_head":"\n