ShoreTel Given Consensus Rating of “Buy” by Brokerages (NASDAQ:SHOR)
Shares of ShoreTel (NASDAQ:SHOR) have received a consensus rating of “Buy” from the seven analysts that are currently covering the stock, American Banking News reports. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $9.42.
Shares of ShoreTel (NASDAQ:SHOR) opened at 6.70 on Thursday. ShoreTel has a one year low of $4.94 and a one year high of $9.81. The stock has a 50-day moving average of $6.40 and a 200-day moving average of $7.28. The company’s market cap is $420.0 million.
ShoreTel (NASDAQ:SHOR) last issued its quarterly 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. Analysts expect that ShoreTel will post $0.19 EPS for the current fiscal year.
SHOR has been the subject of a number of recent research reports. 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.
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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