ShoreTel PT Raised to $7.50 (SHOR)
Research analysts at Stifel Nicolaus hoisted their price objective on shares of ShoreTel (NASDAQ:SHOR) from $6.50 to $7.50 in a report released on Friday, AR Network reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ target price would indicate a potential downside of 1.57% from the stock’s previous close.
Shares of ShoreTel (NASDAQ:SHOR) traded down 3.91% on Friday, hitting $7.62. The stock had a trading volume of 1,578,377 shares. ShoreTel has a one year low of $3.25 and a one year high of $8.15. The stock has a 50-day moving average of $6.28 and a 200-day moving average of $4.70. The company’s market cap is $455.8 million.
ShoreTel (NASDAQ:SHOR) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.07 EPS for the quarter. 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. Analysts expect that ShoreTel will post $0.13 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Lazard Capital Markets reiterated a “neutral” rating on shares of ShoreTel in a research note to investors on Friday. Separately, analysts at Northland Securities raised their price target on shares of ShoreTel from $8.00 to $11.00 in a research note to investors on Thursday. Finally, analysts at Northland Capital Partners raised their price target on shares of ShoreTel from $8.00 to $11.00 in a research note to investors on Thursday. They now have an “outperform” rating on the stock. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $8.13.
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).
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.