ShoreTel (SHOR) Posts Quarterly Earnings Results
ShoreTel (NASDAQ:SHOR) announced its earnings results on Wednesday. The company reported $0.07 EPS for the quarter, Analyst Ratings Network reports. The company had revenue of $84.29 million for the quarter, compared to the consensus estimate of $80.73 million. During the same quarter in the prior year, the company posted ($0.04) earnings per share. The company’s quarterly revenue was up 12.4% on a year-over-year basis.
ShoreTel (NASDAQ:SHOR) traded down 4.08% during mid-day trading on Wednesday, hitting $6.11. 706,700 shares of the company’s stock traded hands. ShoreTel has a one year low of $3.25 and a one year high of $5.30. 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 $365.4 million.
A number of analysts have recently weighed in on SHOR shares. Analysts at Zacks upgraded shares of ShoreTel from a “neutral” rating to an “outperform” rating in a research note to investors on Tuesday, October 1st. They now have a $6.40 price target on the stock. On the ratings front, analysts at Wedbush raised their price target on shares of ShoreTel from $6.00 to $7.00 in a research note to investors on Monday, September 30th. They now have an “outperform” rating on the stock. Finally, analysts at Stephens upgraded shares of ShoreTel from an “equal weight” rating to an “overweight” rating in a research note to investors on Tuesday, September 17th. They now have a $8.00 price target on the stock, up previously from $6.00. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. ShoreTel has a consensus rating of “Buy” and a consensus target price of $6.85.
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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