Raymond James Upgrades Polycom to “Outperform” (PLCM)
Polycom (NASDAQ:PLCM) was upgraded by equities research analysts at Raymond James from a “market perform” rating to an “outperform” rating in a research note issued to investors on Thursday, TheFlyOnTheWall.com reports.
A number of other firms have also recently commented on PLCM. Analysts at Zacks reiterated a “neutral” rating on shares of Polycom (NASDAQ:PLCM) in a research note to investors on Wednesday, August 21st. They now have a $11.00 price target on the stock. Separately, analysts at Northland Capital Partners cut their price target on shares of Polycom (NASDAQ:PLCM) from $14.50 to $12.00 in a research note to investors on Thursday, July 25th. They now have an “outperform” rating on the stock. Finally, analysts at Wedbush cut their price target on shares of Polycom (NASDAQ:PLCM) from $11.00 to $10.00 in a research note to investors on Wednesday, July 24th. They now have a “neutral” rating on the stock.
Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $11.11.
Polycom (NASDAQ:PLCM) opened at 10.725 on Thursday. Polycom has a one year low of $9.00 and a one year high of $12.03. The stock’s 50-day moving average is $9.9 and its 200-day moving average is $10.55. The company’s market cap is $1.819 billion.
Polycom (NASDAQ:PLCM) last released its earnings data on Tuesday, July 23rd. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.01. The company had revenue of $345.20 million for the quarter, compared to the consensus estimate of $341.43 million. During the same quarter in the previous year, the company posted $0.22 earnings per share. The company’s revenue for the quarter was down 3.7% on a year-over-year basis. On average, analysts predict that Polycom will post $0.54 earnings per share for the current fiscal year.
Polycom, Inc is a provider of unified communications (NASDAQ:PLCM) solutions and a provider of telepresence, video, voice and infrastructure solutions based on open standards.
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