8×8’s “Overweight” Rating Reiterated at Barclays (EGHT)
8×8 (NASDAQ:EGHT)‘s stock had its “overweight” rating reiterated by stock analysts at Barclays in a report issued on Wednesday. They currently have a $10.00 target price on the stock, down from their previous target price of $12.00. Barclays’ price objective suggests a potential upside of 26.42% from the company’s current price.
Shares of 8×8 (NASDAQ:EGHT) traded up 0.05% on Wednesday, hitting $7.9142. The stock had a trading volume of 115,991 shares. 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 $7.84 and a 200-day moving average of $8.94. The company has a market cap of $702.2 million and a P/E ratio of 3955.00.
8×8 (NASDAQ:EGHT) last issued its quarterly earnings data 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 other analysts have also recently weighed in 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. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $11.21.
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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