ShoreTel Inc. (NASDAQ:SHOR)’s share price shot up 2.7% during mid-day trading on Monday . The company traded as high as $7.56 and last traded at $7.54, with a volume of 204,051 shares traded. The stock had previously closed at $7.34.

Several equities analysts have recently weighed in on the company. Zacks Investment Research upgraded ShoreTel from a “sell” rating to a “hold” rating in a report on Thursday, June 30th. William Blair reiterated a “buy” rating on shares of ShoreTel in a report on Friday, June 17th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $10.65.

The stock has a market cap of $512.83 million and a price-to-earnings ratio of 637.50. The stock’s 50 day moving average price is $6.95 and its 200 day moving average price is $7.08.

ShoreTel (NASDAQ:SHOR) last issued its earnings results on Thursday, April 28th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by $0.02. The business earned $85.20 million during the quarter, compared to analyst estimates of $88.55 million. During the same period in the previous year, the firm posted $0.04 earnings per share. The firm’s quarterly revenue was up .6% on a year-over-year basis. On average, equities research analysts expect that ShoreTel Inc. will post $0.13 earnings per share for the current year.

A number of institutional investors have recently modified their holdings of SHOR. California State Teachers Retirement System boosted its position in shares of ShoreTel by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 119,670 shares of the company’s stock worth $1,059,000 after buying an additional 2,169 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of ShoreTel during the fourth quarter worth about $1,307,000. Nationwide Fund Advisors boosted its position in shares of ShoreTel by 212.9% in the fourth quarter. Nationwide Fund Advisors now owns 149,582 shares of the company’s stock worth $1,324,000 after buying an additional 101,772 shares during the last quarter. P.A.W. Capital Corp boosted its position in shares of ShoreTel by 13.3% in the fourth quarter. P.A.W. Capital Corp now owns 170,000 shares of the company’s stock worth $1,505,000 after buying an additional 20,000 shares during the last quarter. Finally, GSA Capital Partners LLP boosted its position in shares of ShoreTel by 30.9% in the fourth quarter. GSA Capital Partners LLP now owns 211,264 shares of the company’s stock worth $1,870,000 after buying an additional 49,833 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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