Zacks Upgrades ShoreTel to Outperform (SHOR)
ShoreTel (NASDAQ:SHOR) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research note issued to investors on Wednesday, Analyst Ratings.Net reports. The firm currently has a $9.90 price objective on the stock. Zacks‘ price target indicates a potential upside of 25.63% from the stock’s previous close.
SHOR has been the subject of a number of other recent research reports. Analysts at Northland Capital Partners raised their price target on shares of ShoreTel from $11.00 to $13.00 in a research note to investors on Monday, January 6th. They now have an “outperform” rating on the stock. Separately, 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, January 3rd. They now have a “buy” rating on the stock. Finally, analysts at Stifel Nicolaus raised their price target on shares of ShoreTel from $6.50 to $7.50 in a research note to investors on Friday, November 1st. They now have a “buy” rating on the stock. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. ShoreTel currently has an average rating of “Buy” and an average price target of $9.56.
ShoreTel (NASDAQ:SHOR) traded up 0.89% on Wednesday, hitting $7.95. 537,247 shares of the company’s stock traded hands. ShoreTel has a 52-week low of $3.25 and a 52-week high of $9.81. The stock has a 50-day moving average of $8.96 and a 200-day moving average of $6.67. The company’s market cap is $483.4 million.
ShoreTel (NASDAQ:SHOR) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $0.05 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.03 by $0.02. The company had revenue of $84.50 million for the quarter, compared to the consensus estimate of $83.15 million. During the same quarter in the prior year, the company posted ($0.04) earnings per share. The company’s quarterly revenue was up 13.3% on a year-over-year basis. Analysts expect that ShoreTel will post $0.19 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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