ShoreTel Given Average Rating of “Buy” by Brokerages (NASDAQ:SHOR)
ShoreTel (NASDAQ:SHOR) has earned an average rating of “Buy” from the eight ratings firms that are covering the stock, AnalystRatingsNetwork.com reports. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $9.42.
Several analysts have recently commented on the stock. Analysts at Stifel Nicolaus cut their price target on shares of ShoreTel from $12.00 to $10.00 in a research note on Friday, August 8th. They now have a “buy” rating on the stock. 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.
Shares of ShoreTel (NASDAQ:SHOR) traded down 1.04% on Thursday, hitting $6.64. The stock had a trading volume of 9,580 shares. ShoreTel has a one year low of $4.85 and a one year high of $9.81. The stock’s 50-day moving average is $6.36 and its 200-day moving average is $7.29. The company’s market cap is $416.2 million.
ShoreTel (NASDAQ:SHOR) last released its earnings data 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).