8×8 PT Raised to $12.50 (EGHT)
Stock analysts at Dougherty & Co boosted their target price on shares of 8×8 (NASDAQ:EGHT) from $10.50 to $12.50 in a report issued on Tuesday, Analyst Ratings Net reports. The firm currently has a “buy” rating on the stock. Dougherty & Co’s price target suggests a potential upside of 14.89% from the stock’s previous close.
Shares of 8×8 (NASDAQ:EGHT) traded down 2.42% during mid-day trading on Tuesday, hitting $10.88. 880,662 shares of the company’s stock traded hands. 8×8 has a 52-week low of $5.62 and a 52-week high of $9.99. The stock has a 50-day moving average of $9.37 and a 200-day moving average of $8.01. The company has a market cap of $793.9 million and a price-to-earnings ratio of 101.36.
8×8 (NASDAQ:EGHT) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by $0.01. The company had revenue of $30.82 million for the quarter, compared to the consensus estimate of $31.10 million. During the same quarter in the previous year, the company posted $0.05 earnings per share. The company’s revenue for the quarter was up 21.8% on a year-over-year basis. Analysts expect that 8×8 will post $0.24 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on EGHT. Analysts at Northland Securities raised their price target on shares of 8×8 from $9.50 to $11.00 in a research note to investors on Tuesday, September 3rd. Analysts at Northland Capital Partners raised their price target on shares of 8×8 from $9.50 to $11.00 in a research note to investors on Tuesday, September 3rd. They now have an “outperform” rating on the stock. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $11.10.
8×8, Inc, is a United States-based company, which provides telecommunication services and technology for Internet protocol (NASDAQ:EGHT), telephony and video applications.
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