ShoreTel (NASDAQ: SHOR) was downgraded by equities research analysts at Craig Hallum from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.
Separately, analysts at William Blair initiated coverage on shares of ShoreTel in a research note to investors on Tuesday, January 10th. They set an “outperform” rating on the stock.
ShoreTel, Inc. is a provider of Internet Protocol (IP), unified communications systems for enterprises. Its systems are based on its distributed software architecture and switch-based hardware platform, which enable multi-site enterprises to be served by a single system. Its systems enable a single point of management, installation and a high-degree of scalability and reliability, and provide end-users with a consistent, full suite of features across the enterprise, regardless of location. Its solution consisted of ShoreTel Voice Switches, ShoreTel IP Phones and ShoreTel Software applications. It provides its systems to enterprises across all industries, including small, medium and large companies and public institutions. As of June 30, 2010, the Company had sold its IP unified communications systems to approximately 14,000 enterprise customers. The Company sells its systems through its extensive network of over 800 channel partners.
Shares of ShoreTel opened at 5.97 on Thursday. ShoreTel has a 52 week low of $4.57 and a 52 week high of $12.00. The stock’s 50-day moving average is $6.53 and its 200-day moving average is $6.57. The company’s market cap is $284.6 million.
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