The stock of ShoreTel Inc (NASDAQ:SHOR) is a huge mover today! About 94,105 shares traded hands. ShoreTel Inc (NASDAQ:SHOR) has declined 2.82% since April 22, 2016 and is downtrending. It has underperformed by 8.23% the S&P500.
The move comes after 6 months positive chart setup for the $482.21M company. It was reported on Nov, 25 by Barchart.com. We have $7.74 PT which if reached, will make NASDAQ:SHOR worth $43.40M more.
Analysts await ShoreTel Inc (NASDAQ:SHOR) to report earnings on January, 26. They expect $-0.06 EPS, down 250.00% or $0.10 from last year’s $0.04 per share. After $-0.04 actual EPS reported by ShoreTel Inc for the previous quarter, Wall Street now forecasts 50.00% 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. Lake Street maintained it with “Buy” rating and $12 target price in Friday, November 13 report. TheStreet upgraded the stock to “Hold” rating in Saturday, August 29 report. The firm has “Buy” rating by Canaccord Genuity given on Wednesday, August 12. The stock of ShoreTel Inc (NASDAQ:SHOR) has “Buy” rating given on Monday, August 10 by Canaccord Genuity.
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 1.68 in 2016 Q2. Its up 0.77, from 0.91 in 2016Q1. The ratio improved, 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.
King Luther Management accumulated 0% or 25,000 shares. Princeton Alpha L P has 22,536 shares for 0.03% of their US portfolio. Wells Fargo & Mn holds 24,636 shares or 0% of its portfolio. Prudential reported 245,892 shares or 0% of all its holdings. Thrivent For Lutherans accumulated 201,970 shares or 0.01% of the stock. Millennium Mngmt Lc holds 0% or 91,162 shares in its portfolio. Metropolitan Life Insur Ny reported 44,124 shares or 0% of all its holdings. National Bank Of Ny Mellon Corporation last reported 436,078 shares in the company. State Board Of Administration Of Florida Retirement Systems has invested 0% of its portfolio in ShoreTel Inc (NASDAQ:SHOR). Renaissance Technology Ltd Liability Company holds 0.04% of its portfolio in ShoreTel Inc (NASDAQ:SHOR) for 2.89M shares. Barclays Public Limited Company last reported 99,900 shares in the company. Amer Grp Incorporated holds 0% of its portfolio in ShoreTel Inc (NASDAQ:SHOR) for 38,737 shares. Oxford Asset Mgmt owns 275,671 shares or 0.08% of their US portfolio. Portolan Capital Limited Com holds 1.16% of its portfolio in ShoreTel Inc (NASDAQ:SHOR) for 1.20M shares. Wall Street Associate, a California-based fund reported 248,200 shares.
Insider Transactions: Since August 5, 2016, the stock had 0 insider purchases, and 3 sales for $283,341 net activity. Shares for $45,672 were sold by Corrales Eugenia on Monday, November 7. 13,125 shares with value of $111,563 were sold by Oruganti Bharath on Friday, August 5. Another trade for 14,836 shares valued at $126,106 was sold by HEALY MICHAEL.
More important 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 published article titled: “Why ShoreTel Inc. Rose 14% Friday”, Quotes.Wsj.com published: “ShoreTel Inc. SHOR (US: Nasdaq)” on February 12, 2011. More interesting news about ShoreTel Inc (NASDAQ:SHOR) was released by: Prnewswire.com and their article: “ShoreTel Announces First Quarter Fiscal Year 2017 Earnings Release and …” 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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