This morning I was screening high growth stocks on Barchart looking for issues with current momentum and found Polycom (NASDAQ:PLCM). At the present time the stock is down but appears in recovery and might be a good growth buy for your portfolio.
Polycom, Inc. develops, manufactures and markets a full range of high-quality, media-rich communication tools and network solutions. The company's broadband communication solutions enable business users to immediately realize the benefits of video, voice and data over rapidly growing converged networks. The company is the leading video conferencing and voice conferencing product provider and have recently entered the DSL access market, particularly in the area of integrated voice appliances and broadband access devices.
The are in middle of the cloud based technology and have recently entered into agreements with Samsung (OTC:SSNLF), RIM (RIMM), Microsoft (NASDAQ:MSFT) and Apple (NASDAQ:AAPL) to provide technical solutions to be used in those companies products.
Factors to Consider
Barchart Technical Indicators:
- 80% Barchart technical buy signals
- Trend Spotter buy signal
- 4 new highs and up .62% in the last month
- Relative Strength Index 60.90% and rising
- Trades around 60.14 with a 50 day moving average of 54.76
- Wall Street brokerage analysts are looking for big growth numbers and have released 6 strong buy, 4 buy and 7 hold recommendations on this stock
- Sales are projected to increase by 22.40% this year and another 16.10% next year
- Earnings estimates are very aggressive with a consensus of a 45.30% increase this year, 26.60% next year and 17.00% annually for the next 5 year
General Investor Sentiment:
- On Motley Fool although only followed by 287 readers they are 90% positive on this stock
- CAPS members vote 181 to 22 that the stock will beat the market
- The more experienced All Stars are in agreement with a 76 to 8 vote for the same result
Summary: The analysts growth rates for Polycom of sales and earnings are all double digits. The stock has had a recent price dip so looks good at today present price.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.