Polycom Given Consensus Recommendation of “Buy” by Brokerages (NASDAQ:PLCM)
Shares of Polycom (NASDAQ:PLCM) have been given an average recommendation of “Buy” by the nine analysts that are currently covering the company, American Banking News reports. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $14.53.
A number of research firms have recently commented on PLCM. Analysts at Zacks downgraded shares of Polycom from an “outperform” rating to a “neutral” rating in a research note on Monday, August 25th. They now have a $14.00 price target on the stock. Separately, analysts at Raymond James reiterated an “outperform” rating on shares of Polycom in a research note on Thursday, July 24th. They now have a $16.00 price target on the stock, up previously from $14.50. Finally, analysts at Northland Securities downgraded shares of Polycom from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 24th. They now have a $14.25 price target on the stock, down previously from $15.50.
Polycom (NASDAQ:PLCM) traded up 1.05% on Wednesday, hitting $13.47. The stock had a trading volume of 306,700 shares. Polycom has a one year low of $9.86 and a one year high of $14.06. The stock has a 50-day moving average of $12.94 and a 200-day moving average of $12.86. The company’s market cap is $1.843 billion.
Polycom (NASDAQ:PLCM) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $0.21 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.18 by $0.03. The company had revenue of $332.00 million for the quarter, compared to the consensus estimate of $339.05 million. During the same quarter last year, the company posted $0.15 earnings per share. Polycom’s revenue was down 3.8% compared to the same quarter last year. Analysts expect that Polycom will post $0.81 EPS 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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