Gigamon (GIMO) Crumbles: Stock Plunges by 32.4%

Zacks

Gigamon Inc. (GIMO) saw a big move last session, as the company’s shares fell by over 32% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent downtrend for GIMO, as the stock is now down over 37% since Jul 3.

The networking services provider has seen a flat track record when it comes to current year estimate revisions over the past few weeks, and the consensus for earnings hasn’t been in a trend either. This recent price action is discouraging, so make sure to keep a close watch on this firm in the near future, and especially on earnings estimates following the recent slump.  

GIMO currently has a Zacks Rank #3 (Hold) while its  Earnings ESP is 0.00%.

Some better-ranked stocks in the same sector include Corning Inc. (GLW), KVH Industries Inc. (KVHI) and Plantronics, Inc. (PLT). All these stocks hold a Zacks Rank #2 (Buy).

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>



GIGAMON INC (GIMO): Free Stock Analysis Report

CORNING (GLW): Free Stock Analysis Report

KVH INDUSTRIES INC (KVHI): Free Stock Analysis Report

PLANTRONICS INC (PLT): Free Stock Analysis Report


Zacks Investment Research

View Comments (1)