Stifel Nicolaus Lowers ShoreTel Price Target to $10.00 (SHOR)
Analysts at Stifel Nicolaus cut their price target on shares of ShoreTel (NASDAQ:SHOR) from $12.00 to $10.00 in a research report issued to clients and investors on Friday. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price objective indicates a potential upside of 50.38% from the stock’s previous close.
Separately, analysts at SunTrust initiated coverage on shares of ShoreTel in a research note on Tuesday, June 10th. They set a “neutral” rating and a $7.50 price target on the stock. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $9.42.
Shares of ShoreTel (NASDAQ:SHOR) traded up 10.65% on Friday, hitting $6.65. The stock had a trading volume of 2,350,760 shares. ShoreTel has a 1-year low of $4.26 and a 1-year high of $9.81. The stock has a 50-day moving average of $6.27 and a 200-day moving average of $7.43. The company’s market cap is $416.9 million.
ShoreTel (NASDAQ:SHOR) last announced its earnings results on Thursday, August 7th. The company reported $0.08 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.05 by $0.03. The company had revenue of $88.60 million for the quarter, compared to the consensus estimate of $85.39 million. During the same quarter last year, the company posted $0.06 earnings per share. ShoreTel’s revenue was up 3.5% compared to the same quarter last year. 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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