ShoreTel Inc. Sets New 1-Year High at $6.00 (SHOR)
ShoreTel (NASDAQ:SHOR) set a new 52-week high during mid-day trading on Monday, AnalystRatingsNetwork reports. The stock traded as high as $6.00 and last traded at $5.90, with a volume of 671,981 shares. The stock had previously closed at $5.73.
SHOR has been the subject of a number of recent research reports. Analysts at TheStreet upgraded shares of ShoreTel (NASDAQ:SHOR) from a “sell” rating to a “hold” rating in a research note to investors on Friday, August 30th. Separately, analysts at Lazard Capital Markets downgraded shares of ShoreTel (NASDAQ:SHOR) from a “buy” rating to a “neutral” rating in a research note to investors on Tuesday, July 16th. Finally, analysts at Zacks downgraded shares of ShoreTel (NASDAQ:SHOR) from an “outperform” rating to a “neutral” rating in a research note to investors on Tuesday, July 2nd. They now have a $4.70 price target on the stock.
Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $5.23.
ShoreTel has a 52 week low of $3.25 and a 52 week high of $5.85. The stock’s 50-day moving average is $4.67 and its 200-day moving average is $4.09. The company’s market cap is $355.3 million.
ShoreTel (NASDAQ:SHOR) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.06 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.02 by $0.04. The company had revenue of $85.60 million for the quarter, compared to the consensus estimate of $83.00 million. ShoreTel’s revenue was up 9.0% compared to the same quarter last year. Analysts expect that ShoreTel will post $0.07 EPS for the current fiscal year.
ShoreTel, Inc is a provider of business communication solutions. The Company’s unified communications (NASDAQ:SHOR) and contact center solutions are based on its Internet protocol (IP) business phone system (IP-PBX).
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