8X8 (EGHT) Gets a Buy Rating from Oppenheimer

In a report released today, Timothy Horan from Oppenheimer assigned a Buy rating to 8X8 (EGHT), with a price target of $29.00. The company’s shares closed last Thursday at $29.50.

According to TipRanks.com, Horan is a 5-star analyst with an average return of 17.9% and a 71.5% success rate. Horan covers the Technology sector, focusing on stocks such as GTT Communications, Limelight Networks, and Lumen Technologies.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for 8X8 with a $22.14 average price target, implying a -6.3% downside from current levels. In a report released today, Stephens also maintained a Buy rating on the stock with a $30.00 price target.

See today’s analyst top recommended stocks >>

The company has a one-year high of $21.57 and a one-year low of $10.70. Currently, 8X8 has an average volume of 1.26M.

Based on the recent corporate insider activity of 87 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of EGHT in relation to earlier this year. Last month, Vikram Verma, the CEO of EGHT bought 33,167 shares for a total of $227,526.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

8×8, Inc. engages in the provision of enterprise communication solutions. Its solutions include industry and business solutions for collections, education, government healthcare, high tech, insurance, call center, call center software, network optimization, and international calls. The company was founded in February 1987 and is headquartered in San Jose, CA.

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