ShoreTel Inc. (SHOR) Trading Up 9.5%
ShoreTel Inc. (NASDAQ:SHOR)’s share price was up 9.5% on Friday . The stock traded as high as $7.43 and last traded at $7.39, with a volume of 607,419 shares changing hands. The stock had previously closed at $6.75.
Several equities analysts have weighed in on SHOR shares. William Blair reaffirmed a “buy” rating on shares of ShoreTel in a report on Tuesday, May 24th. Zacks Investment Research cut shares of ShoreTel from a “hold” rating to a “sell” rating in a research report on Wednesday, May 11th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $10.65.
The firm has a market cap of $494.73 million and a P/E ratio of 615.00. The firm has a 50 day moving average of $6.48 and a 200 day moving average of $7.21.
ShoreTel (NASDAQ:SHOR) last issued its quarterly earnings results on Thursday, April 28th. The company reported ($0.06) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by $0.02. The company had revenue of $85.20 million for the quarter, compared to the consensus estimate of $88.55 million. The company’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.04 EPS. On average, equities analysts forecast that ShoreTel Inc. will post $0.13 EPS for the current fiscal year.
A number of large investors recently added to or reduced their stakes in the company. Russell Frank Co raised its stake in ShoreTel by 21.2% in the fourth quarter. Russell Frank Co now owns 574,392 shares of the company’s stock valued at $5,157,000 after buying an additional 100,652 shares in the last quarter. Nationwide Fund Advisors raised its stake in ShoreTel by 212.9% in the fourth quarter. Nationwide Fund Advisors now owns 149,582 shares of the company’s stock valued at $1,324,000 after buying an additional 101,772 shares in the last quarter. California State Teachers Retirement System raised its stake in ShoreTel by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 119,670 shares of the company’s stock valued at $1,059,000 after buying an additional 2,169 shares in the last quarter. EAM Investors LLC bought a new stake in ShoreTel during the fourth quarter valued at approximately $4,037,000. Finally, State of Wisconsin Investment Board raised its stake in ShoreTel by 0.5% in the fourth quarter. State of Wisconsin Investment Board now owns 547,481 shares of the company’s stock valued at $4,845,000 after buying an additional 2,915 shares in the last quarter.
Shoretel, Inc (ShoreTel) is engaged in the design, development, marketing and sale of business communication solutions. The Company provides business communication solutions, including integrated voice, video, data and mobile applications based on Internet protocol (IP) technologies. It is focused on the small and medium sized businesses (less than 5,000 users), with a Unified Communications platform.
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