Worth Watching: ShoreTel Inc’s Trend Down, Especially After Today’s Weak Session

Worth Watching: ShoreTel Inc's Trend Down, Especially After Today's Weak Session

The stock of ShoreTel Inc (NASDAQ:SHOR) is a huge mover today! About 547,783 shares traded hands. ShoreTel Inc (NASDAQ:SHOR) has risen 0.14% since March 11, 2016 and is uptrending. It has underperformed by 5.32% the S&P500.
The move comes after 6 months negative chart setup for the $463.41M company. It was reported on Oct, 14 by Barchart.com. We have $6.19 PT which if reached, will make NASDAQ:SHOR worth $60.24M less.

Analysts await ShoreTel Inc (NASDAQ:SHOR) to report earnings on October, 27. They expect $-0.05 earnings per share, down 266.67% or $0.08 from last year’s $0.03 per share. After $0.03 actual earnings per share reported by ShoreTel Inc for the previous quarter, Wall Street now forecasts -266.67% negative EPS growth.

ShoreTel Inc (NASDAQ:SHOR) Ratings Coverage

Out of 3 analysts covering Shoretel Inc. (NASDAQ:SHOR), 3 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Shoretel Inc. has been the topic of 9 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating given on Friday, November 13 by Lake Street. The rating was initiated by Canaccord Genuity on Monday, August 10 with “Buy”. Canaccord Genuity initiated it with “Buy” rating and $10 target price in Wednesday, August 12 report. The firm has “Hold” rating given on Saturday, August 29 by TheStreet.

According to Zacks Investment Research, “ShoreTel is a leading provider of enterprise IP telephony solutions. ShoreTel voice systems provide customers with a number of key benefits, including ease of use, manageability and lower total cost of ownership than alternative solutions. ShoreTel’s distributed software architecture and switched-based hardware platform extend enterprise-class voice services to every office and outpost, keeping employees fully connected wherever they go. ShoreTel has achieved broad industry recognition for its technology and high customer satisfaction. For the last four years, IT executives surveyed by Nemertes Research, an independent research firm, have rated ShoreTel highest in customer satisfaction among leading enterprise telecommunications systems providers. A select, worldwide group of channel partners provide service and support. ShoreTel is headquartered in Sunnyvale, California, and has regional offices in the United Kingdom, Sydney, Australia and Munich, Germany.”

Insitutional Activity: The institutional sentiment increased to 0.91 in Q2 2016. Its up 0.19, from 0.72 in 2016Q1. The ratio increased, as 24 funds sold all ShoreTel Inc shares owned while 42 reduced positions. 18 funds bought stakes while 42 increased positions. They now own 57.62 million shares or 0.86% less from 58.12 million shares in 2016Q1.
State Bank Of Montreal Can has invested 0% of its portfolio in ShoreTel Inc (NASDAQ:SHOR). Strs Ohio reported 101,400 shares or 0% of all its holdings. Ironbridge Cap Mngmt Limited Partnership owns 552,813 shares or 0.16% of their US portfolio. Rgm Limited Liability holds 6.18 million shares or 4.97% of its portfolio. Barclays Public Ltd Com owns 99,900 shares or 0% of their US portfolio. Schwab Charles Invest Mngmt last reported 217,953 shares in the company. Putnam Invs Ltd owns 331,400 shares or 0.01% of their US portfolio. Gsa Prns Limited Liability Partnership last reported 313,373 shares in the company. Moreover, Wasatch Advisors has 0.02% invested in ShoreTel Inc (NASDAQ:SHOR) for 205,000 shares. Moreover, State Board Of Administration Of Florida Retirement Sys has 0% invested in ShoreTel Inc (NASDAQ:SHOR) for 52,693 shares. Allianz Asset Ag reported 466,892 shares or 0% of all its holdings. Susquehanna Intll Gp Llp holds 0% or 16,839 shares in its portfolio. Los Angeles Cap Mgmt And Equity Research Inc accumulated 0.01% or 105,934 shares. Cap Fund Mngmt Sa accumulated 0% or 29,500 shares. Moreover, Deutsche Bank Ag has 0% invested in ShoreTel Inc (NASDAQ:SHOR) for 65,473 shares.

Insider Transactions: Since August 5, 2016, the stock had 0 insider purchases, and 2 selling transactions for $237,669 net activity. Another trade for 14,836 shares valued at $126,106 was sold by HEALY MICHAEL. Oruganti Bharath had sold 13,125 shares worth $111,563.

More notable recent ShoreTel Inc (NASDAQ:SHOR) news were published by: Fool.com which released: “Why ShoreTel, Inc. Stock Plunged Today” on April 30, 2016, also Fool.com with their article: “Why ShoreTel Inc. Rose 14% Friday” published on October 23, 2015, Prnewswire.com published: “ShoreTel Announces Fiscal Q4 and 2016 Earnings Release and Conference Call Details” on July 25, 2016. More interesting news about ShoreTel Inc (NASDAQ:SHOR) were released by: Prnewswire.com and their article: “ShoreTel Reports Financial Results for Fourth Quarter and Fiscal Year 2016” published on August 04, 2016 as well as Twst.com‘s news article titled: “ShoreTel Inc.: ShoreTel Announces First Quarter Fiscal Year 2017 Earnings …” with publication date: October 12, 2016.

SHOR Company Profile

ShoreTel, Inc., incorporated on January 18, 2007, is a well-known provider of business communication solutions. The Firm is engaged in the design, development, marketing and sale of business communication solutions. The Firm is focused on the small and medium sized businesses seeking a unified communications (UC) solution allowing them to communicate anytime, anyplace and through any device they chose. The Firm provides this to the market through two solutions: ShoreTel Connect, its UC solution, and Contact Center offering and ShoreTel Summit, its platform for developers and integrators. ShoreTel Connect delivers a featured UC solution and applications, such as mobility, collaboration and workgroups. ShoreTel Connect offers three different delivery models, including cloud, onsite and hybrid. Connect Cloud provides a hosted voice solution to its customers. Connect OnSite provides its clients the ability to independently own and operate their equipment. Connect Hybrid enables its clients to use both its cloud and onsite offerings. Summit, its communications platform as a service (CPaaS) offering, delivers the option to either integrate communications into any application or workflow or to create a standalone business communications application.

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