Traders Purchase High Volume of Put Options on Polycom (PLCM)
Polycom (NASDAQ:PLCM) was the recipient of some unusual options trading on Friday. Stock investors bought 15,011 put options on the company, StockRatingsNetwork.com reports. This represents an increase of approximately 592% compared to the average volume of 2,168 put options.
Several analysts have recently commented on the stock. Analysts at BMO Capital Markets raised their price target on shares of Polycom from $10.00 to $11.00 in a research note to investors on Thursday. They now have a “market perform” rating on the stock. Separately, analysts at Raymond James upgraded shares of Polycom from a “market perform” rating to an “outperform” rating in a research note to investors on Thursday, September 12th. They now have a $12.50 price target on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Polycom in a research note to investors on Wednesday, August 21st. They now have a $11.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company’s stock. Polycom currently has a consensus rating of “Hold” and a consensus price target of $11.27.
Shares of Polycom (NASDAQ:PLCM) traded down 2.52% during mid-day trading on Friday, hitting $10.625. The stock had a trading volume of 7,693,223 shares. Polycom has a 52 week low of $9.00 and a 52 week high of $12.03. The stock has a 50-day moving average of $10.05 and a 200-day moving average of $10.57. The company’s market cap is $1.802 billion.
Polycom (NASDAQ:PLCM) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.11 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.11. The company had revenue of $336.50 million for the quarter, compared to the consensus estimate of $336.40 million. During the same quarter last year, the company posted $0.10 earnings per share. Polycom’s revenue was up .3% compared to the same quarter last 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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