ShoreTel Receives Consensus Recommendation of “Buy” from Brokerages (NASDAQ:SHOR)
Shares of ShoreTel (NASDAQ:SHOR) have been given an average recommendation of “Buy” by the ten analysts that are presently covering the stock, Analyst Ratings Network reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and six have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $9.56.
ShoreTel (NASDAQ:SHOR) traded up 0.06% during mid-day trading on Wednesday, hitting $7.5547. 42,188 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 $8.46 and its 200-day moving average is $8.05. The company’s market cap is $464.1 million.
ShoreTel (NASDAQ:SHOR) last issued its quarterly earnings data 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.
Several analysts have recently commented on the stock. Analysts at EVA Dimensions upgraded shares of ShoreTel from a “sell” rating to an “underweight” rating in a research note on Tuesday. Analysts at Zacks upgraded shares of ShoreTel from a “neutral” rating to an “outperform” rating in a research note on Wednesday, January 29th. They now have a $9.90 price target on the stock.
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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