8×8 Receives Average Recommendation of “Buy” from Analysts (NASDAQ:EGHT)
Shares of 8×8 (NASDAQ:EGHT) have been given a consensus recommendation of “Buy” by the ten ratings firms that are currently covering the stock, American Banking and Market News reports. Two analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $11.43.
8×8 (NASDAQ:EGHT) opened at 7.85 on Monday. 8×8 has a one year low of $6.68 and a one year high of $12.42. The stock has a 50-day moving average of $7.83 and a 200-day moving average of $8.99. The company has a market cap of $696.5 million and a price-to-earnings ratio of 3945.00.
8×8 (NASDAQ:EGHT) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $0.03 EPS for the quarter, meeting the Thomson Reuters 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 in the prior year, the company posted $0.06 earnings per share. The company’s quarterly revenue was up 29.6% on a year-over-year basis. Analysts expect that 8×8 will post $0.13 EPS for the current fiscal year.
A number of research firms have recently commented on EGHT. 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. 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.
8×8, Inc develops and markets telecommunications services for Internet protocol(NASDAQ:EGHT), telephony and video applications as well as contact center, Web-based conferencing and unified communications services, and cloud-based computing services.
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