Stephens analyst Ryan MacWilliams assigned a Buy rating to 8X8 (EGHT) today and set a price target of $27. The company’s shares closed last Monday at $24.61.
According to TipRanks.com, MacWilliams is a 2-star analyst with an average return of 0.1% and a 66.7% success rate. MacWilliams covers the Technology sector, focusing on stocks such as Everbridge Inc, Twilio Inc, and Five9.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for 8X8 with a $27.05 average price target, implying a 9.0% upside from current levels. In a report issued on July 31, Stifel Nicolaus also maintained a Buy rating on the stock with a $30 price target.
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Based on 8X8’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $34.27 million. In comparison, last year the company had a GAAP net loss of $15.36 million.
Based on the recent corporate insider activity of 58 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. 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.
