In a report released yesterday, Ryan Koontz from Rosenblatt Securities maintained a Buy rating on 8X8 (EGHT), with a price target of $22.50. The company’s shares closed yesterday at $17.62.
According to TipRanks.com, Koontz is a 3-star analyst with an average return of 8.4% and a 66.7% success rate. Koontz covers the Consumer Goods sector, focusing on stocks such as Acacia Communications, Juniper Networks, and Ciena Corp.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for 8X8 with a $22.33 average price target, representing a 26.7% upside. In a report released yesterday, Oppenheimer also assigned a Buy rating to the stock with a $22 price target.
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The company has a one-year high of $23.50 and a one-year low of $15.13. Currently, 8X8 has an average volume of 1.01M.
Based on the recent corporate insider activity of 60 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of EGHT in relation to earlier this year.
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8×8, Inc. operates as a business cloud communications provider which engages in the provision of development and use of Internet protocol voice, video and data communication technologies. It operates through the following geographical segments: Americas and Europe. The firm also offers a SaaS communication solution.
