8×8 Given Average Rating of “Buy” by Analysts (NASDAQ:EGHT)
8×8 (NASDAQ:EGHT) has earned a consensus recommendation of “Buy” from the ten brokerages that are currently covering the company, Analyst RN reports. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $11.43.
A number of analysts have recently weighed in on EGHT shares. Analysts at Zacks upgraded shares of 8×8 from a “neutral” rating to an “outperform” rating in a research note on Tuesday, July 29th. They now have a $8.90 price target on the stock. Separately, analysts at Dougherty & Co initiated coverage on shares of 8×8 in a research note on Monday, July 7th. They set a “buy” rating and a $11.50 price target on the stock. Finally, analysts at B. Riley reiterated a “neutral” rating on shares of 8×8 in a research note on Friday, May 23rd. They now have a $8.00 price target on the stock, down previously from $10.00.
Shares of 8×8 (NASDAQ:EGHT) traded up 1.27% during mid-day trading on Monday, hitting $7.98. The stock had a trading volume of 118,478 shares. 8×8 has a 1-year low of $6.68 and a 1-year high of $12.42. The stock’s 50-day moving average is $7.8 and its 200-day moving average is $9.05. The company has a market cap of $708.0 million and a P/E ratio of 3940.00.
8×8 (NASDAQ:EGHT) last announced its earnings results on Wednesday, July 23rd. The company reported $0.03 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.03. The company had revenue of $37.90 million for the quarter, compared to the consensus estimate of $37.46 million. During the same quarter last year, the company posted $0.06 earnings per share. 8×8’s revenue was up 29.6% compared to the same quarter last year. Analysts expect that 8×8 will post $0.13 EPS for the current fiscal year.
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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