Summit Research Initiates “Buy” Rating for Interactive Intelligence (NASDAQ:ININ) With a $41.00 Price Target


Why Has Summit Research Given Interactive Intelligence (NASDAQ:ININ) a $41.00 Price Target

Summit Research analyst initiated coverage on Interactive Intelligence (NASDAQ:ININ) with a $41.00 target price per share and “Buy” rating. The target price per share would possibly suggest a potential upside of 17.24% from company’s previous close.

From a total of 7 analysts covering Interactive Intelligence (NASDAQ:ININ) stock, 6 rate it a ”Buy”, 0 a “Sell”, and 3 a ”Hold”. This means that 67% of the ratings are positive. The highest target price is $58 while the lowest target price is $42. The mean of all analyst targets is $51.57 with a 30.49% above today’s ($35) stock price. Interactive Intelligence was the topic of 4 analyst reports since August 24, 2015 according to the firm StockzIntelligence Inc. RBC Capital Markets maintained shares on November 3 with “Outperform” rating.

Approximately 31,691 shares of stock traded hands. Interactive Intelligence Group Inc (NASDAQ:ININ) has declined 19.33% since May 4, 2015 and is downtrending. It has underperformed by 18.25% the S&P500.

The overall sentiment of institutions has decreased to 1.08 in Q2 2015. Its down 0.50, from 1.58 in 2015Q2. The ratio is negative, as 26 institutions have sold all the shares of Interactive Intelligence Group Inc that they owned while 27 funds have taken shares off the table. 11 funds have purchased shares for the first time while 46 added to their positions. These institutions now hold 18.05 million shares or 1.20% less than the 18.27 million shares they owned in 2015Q2.

The Fund Bares Capital Management Inc. currently is holding shares equating to 8.97% of its total portfolio in Interactive Intelligence Group Inc representing a total of 3.04 million shares. Another fund,Murphy Michael R, is holding a total of 709,665 shares equating to 7.24% of their holdings. Additionally, Tamro Capital Partners Llc has a 329,849 share stake in Interactive Intelligence Group Inc which represents 1.11% of their total portfolio. The Fund, Washington Capital Management Inc, based out of Washington, has also built up a stake in the stock, which represents a total of 0.92% of their total portfolio. Finally Roanoke Asset Management Corp Ny, a fund which is based in the state of New York reported a total holdings of 66,745 shares.

Interactive Intelligence Group, Inc

According to Zacks Investment Research, “Interact Intelligence, Inc. is a provider of software that manages a broad range of customer interactions including traditional telephone calls and faxes as well as Internet-based interactions such as e-mail, text chat, Web callback requests and voice over Net calls. They sell their products into three large and growing markets-call (or contact) centers, enterprises and service providers.” Get a free copy of the Zacks research report on Interactive Intelligence Group Inc (ININ).