Just when Interactive Intelligence Inc. was enjoying an extended run up in its stock price, more than half its value has been lost in the past few weeks. Shares in the Indianapolis-based software firm have fallen to $13, down from $28 in late December.
The stock had undergone a sustained recovery after the technology bust drove the price down to nearly $2 in late 2002.
Late Thursday, Interactive reported that it expected fourth-quarter sales to range from $29 to $30 million-below the $30.6 million anticipated by analysts surveyed by Thomson Financial. Earnings won't be released until Jan. 30.
Despite the recent travails, analysts aren't abandoning the company.
Only one of the eight analysts who follow Interactive recommends selling the stock. The other analysts have such recommendations as buy, strong buy and outperform.