ShoreTel PT Raised to $13.00 (SHOR)
Analysts at Northland Capital Partners lifted their price target on shares of ShoreTel (NASDAQ:SHOR) from $11.00 to $13.00 in a research report issued to clients and investors on Monday, StockRatingsNetwork.com reports. The firm currently has an “outperform” rating on the stock. Northland Capital Partners’ price objective points to a potential upside of 39.19% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Stifel Nicolaus raised their price target on shares of ShoreTel from $7.50 to $12.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Separately, analysts at Zacks downgraded shares of ShoreTel from an “outperform” rating to a “neutral” rating in a research note to investors on Wednesday, November 27th. They now have a $8.70 price target on the stock. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $9.39.
ShoreTel (NASDAQ:SHOR) traded up 1.18% on Monday, hitting $9.45. 309,619 shares of the company’s stock traded hands. ShoreTel has a 52 week low of $3.25 and a 52 week high of $9.53. The stock’s 50-day moving average is $8.42 and its 200-day moving average is $6.05. The company’s market cap is $570.5 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. On average, analysts predict that ShoreTel will post $0.19 earnings per share 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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