B.Riley FBR analyst Josh Nichols maintained a Hold rating on 8X8 (EGHT) today and set a price target of $18. The company’s shares closed yesterday at $23.65, close to its 52-week high of $24.39.
Nichols observed:
“Neutral-rated 8×8 (EGHT, $18 PT) reports F4Q19 (Mar) results, after the close, on Tuesday, 5/14 (Dial in 5:00PM ID: 1557877). For 4Q, we model $93M in revenue, $(6.4M) GAAP/pro forma EPS, relative to consensus at $93M revenue, $(4.0M) EBITDA, and GAAP/pro forma EPS of $(0.22)/$(0.08). We believe 4Q top- line estimates are likely achievable with service revenue growth of 18.6% (22%-23% ex-DXI and in constant currency) dipping from the 19.5% achieved last quarter and 20.2% growth in F4Q18. However, we believe FY20 consensus service revenue estimates of $403.5M could be more difficult to achieve (up 20.6% Y/Y and above our 18.0% or $395M).”
According to TipRanks.com, Nichols is a 4-star analyst with an average return of 12.7% and a 43.2% success rate. Nichols covers the Consumer Goods sector, focusing on stocks such as Adesto Technologies Corp, Pointer Telocation Ltd, and Immersion Corp.
8X8 has an analyst consensus of Strong Buy, with a price target consensus of $23.08.
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The company has a one-year high of $24.39 and a one-year low of $15.13. Currently, 8X8 has an average volume of 1.28M.
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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.
