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Polycom (PLCM) Shares Upgraded to a "Outperform" Rating by Zacks Investment Research Analysts.
January 4, 2012 | Hogan Keyser
January 3, 2012 via LocalizedUSA.com -- Polycom (NASDAQ: PLCM) was upgraded by equities research analysts at Zacks Investment Research from a "neutral" rating to an "outperform" rating in a research note issued to investors on Tuesday. The analysts currently have a $20.00 price target on the stock.
Zacks' analyst wrote, "We upgrade our recommendation on Polycom Inc. to Outperform based on our view that management mostly resolved the poor execution problems of marketing and sales, which was the primary reason for the previous quarter's disappointing performance. Polycom's latest software-centric business model has significantly raised its overall market opportunity. Despite facing competitive pressure from Cisco, Polycom's Network Infrastructure Systems businesses grew 33.7% in the previous quarter. Strong momentum of the Network Infrastructure division is a significant positive for Polycom since this division drives the company's overall margin. We believe long-term fundamentals of the videoconferencing industry remain compelling. Meanwhile, the stock price dropped by nearly 52.5% in the last year and is currently trading at attractive multiples with respect to several valuation metrics compared to its peers."
Separately, analysts at Citigroup (NYSE: C) upgraded shares of Polycom from a "neutral" rating to a "buy" rating in a research note to investors on Wednesday, December 21st. Analysts at Goldman Sachs (NYSE: GS) initiated coverage on shares of Polycom in a research note to investors on Friday, December 9th. They set a "neutral" rating on the stock. Also, analysts at FBN Securities raised their price target on shares of Polycom to $22.00 in a research note to investors on Tuesday, November 8th. They now have an "outperform" rating on the stock.
Polycom is a provider of unified (UC) solutions and a provider of telepresence, video, voice and infrastructure solutions based on open standards. With its UC solutions, people all over the world can collaborate face-to-face without being in the same physical location. Individuals and teams can connect, solve and create through a visual experience from their desktops, meeting rooms, classrooms, and while mobile. The Company has three operating segments: Americas, which consist of North, Central and Latin Americas; Europe, Middle East and Africa (EMEA), and Asia Pacific (APAC). In March 2011, the Company acquired Accordent Technologies, Inc. In July 2011, the Company acquired Hewlett-Packard Company's (HP) Visual Collaboration business. On October 14, 2011, it acquired ViVu, Inc.
Shares of Polycom traded up 1.10% during mid-day trading on Tuesday, hitting $16.48. Polycom has a 52 week low of $14.45 and a 52 week high of $34.30. The stock's 50-day moving average is $16.69 and its 200-day moving average is $22.21. The company has a market cap of $2.919 billion and a price-to-earnings ratio of 24.77.
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