ShoreTel Inc. (SHOR) Stock Price Up 9.5%
ShoreTel Inc. (NASDAQ:SHOR)’s share price rose 9.5% during mid-day trading on Friday . The company 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.
SHOR has been the subject of a number of recent analyst reports. William Blair reiterated a “buy” rating on shares of ShoreTel in a research report on Tuesday, May 24th. Zacks Investment Research downgraded shares of ShoreTel from a “hold” rating to a “sell” rating in a report on Wednesday, May 11th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. ShoreTel has an average rating of “Buy” and an average price target of $10.65.
The firm’s 50 day moving average price is $6.51 and its 200 day moving average price is $7.20. The firm has a market capitalization of $492.71 million and a P/E ratio of 612.50.
ShoreTel (NASDAQ:SHOR) last released its earnings results on Thursday, April 28th. The company reported ($0.06) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by $0.02. The business earned $85.20 million during the quarter, compared to analysts’ expectations of $88.55 million. The business’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter last year, the firm earned $0.04 EPS. On average, analysts anticipate that ShoreTel Inc. will post $0.13 earnings per share for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its stake in ShoreTel by 16.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,602,793 shares of the company’s stock valued at $14,185,000 after buying an additional 232,040 shares during the last quarter. Marshall Wace LLP purchased a new stake in ShoreTel during the fourth quarter valued at approximately $1,307,000. P.A.W. Capital Corp boosted its stake in ShoreTel by 13.3% in the fourth quarter. P.A.W. Capital Corp now owns 170,000 shares of the company’s stock valued at $1,505,000 after buying an additional 20,000 shares during the last quarter. GSA Capital Partners LLP boosted its stake in ShoreTel by 30.9% in the fourth quarter. GSA Capital Partners LLP now owns 211,264 shares of the company’s stock valued at $1,870,000 after buying an additional 49,833 shares during the last quarter. Finally, Cowen Prime Services LLC boosted its stake in ShoreTel by 4.6% in the fourth quarter. Cowen Prime Services LLC now owns 608,200 shares of the company’s stock valued at $5,383,000 after buying an additional 26,700 shares during 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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