ShoreTel Director Gary James Daichendt Sells 3,303 Shares (SHOR)
ShoreTel (NASDAQ:SHOR) Director Gary James Daichendt sold 3,303 shares of the stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $8.00, for a total value of $26,424.00. Following the completion of the transaction, the director now directly owns 446,838 shares of the company’s stock, valued at approximately $3,574,704. The transaction was disclosed in a filing with the SEC, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Zacks upgraded shares of ShoreTel from a “neutral” rating to an “outperform” rating in a research note to investors on Wednesday. They now have a $9.90 price target on the stock. Separately, 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. Finally, 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. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $9.56.
Shares of ShoreTel (NASDAQ:SHOR) traded down 1.91% on Friday, hitting $7.70. 721,782 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’s 50-day moving average is $8.93 and its 200-day moving average is $6.69. The company’s market cap is $468.2 million.
ShoreTel (NASDAQ:SHOR) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $0.05 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted ($0.04) earnings per share. The company’s revenue for the quarter 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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