Northern Capital Raises inContact Shares to $9
February 25, 2013
Today, many businesses are adopting cloud-based applications to improve agility and reduce IT and equipment requirements. Cloud-based applications are hosted in a secure data center maintained by a service provider and delivered as an easy-to-use suite, thus providing several advantages to businesses of all types.
Specifically, a cloud-based contact center can enable businesses to meet and exceed customer expectations while drastically improving operational efficiency. A cloud-based contact center is a hosted environment that enables users to perform product support, answer inquiries, collect payments and complete sales via an Internet connection.
So, it is no surprise that on Tuesday equities researchers at Northland Capital lifted their target price on shares of inContact, Inc., a provider of cloud contact center software and contact center agent optimization tools, from $8.00 to $9.00.
In fact, inContact shares traded up 3.71 percent during mid-day trading on Tuesday, hitting $6.99. Additionally, inContact has a 52 week low of $4.47 and a 52 week high of $7.29, while the stock’s 50-day moving average is currently $5.69.
On Thursday, February 14th, inContact released its earnings with $0.01 earnings per share for the quarter, beating the estimate of $0.03 by $0.02. The company had revenue of $30.70 million for the quarter, compared to the consensus estimate of $29.28 million. During the same quarter last year, inContact posted $0.07 earnings per share.
"Companies are turning to inContact to power customer care excellence as a growth strategy and help them build scalable, efficient and integrated operations,” said Paul Jarman, inContact CEO, in a statement.
inContact helps contact centers create profitable customer experiences through its portfolio of cloud contact center software. Its solutions not only optimize the cost and quality of customer interactions, but create new pathways to profit and ensure business growth.
As of late, SaaS (News - Alert) has been the subject of many recent research reports as SaaS solutions like inContact’s continue to offer a viable software option for many businesses to traditional on-premise installations. In this Web-based model, software vendors host and maintain the servers, databases and code that constitute an application. This is a significant shift from the on-premise software delivery model because companies don’t have to invest in extensive hardware to host the software, and it allows buyers to outsource IT responsibilities required to maintain the software.
Analysts at Benchmark Co. reiterated a “buy” rating on inContact shares in a research note to investors on Friday. They now have an $8.00 price target on the stock, up from $7.00. Additionally, analysts at Roth Capital upgraded shares of inContact from a “neutral” rating to a “buy” rating. So, analysts now have a $7.50 price target on the stock, up previously from $6.50.
Edited by Rich Steeves
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