B.Riley FBR analyst Josh Nichols reiterated a Hold rating on 8X8 (EGHT) today and set a price target of $18.50. The company’s shares closed last Monday at $20.14.
According to TipRanks.com, Nichols is a 4-star analyst with an average return of 12.1% and a 46.7% success rate. Nichols covers the Consumer Goods sector, focusing on stocks such as Adesto Technologies, Avid Technology, and Horizon Global.
8X8 has an analyst consensus of Moderate Buy, with a price target consensus of $24.21, implying a 17.2% upside from current levels. In a report issued on January 13, Morgan Stanley also downgraded the stock to Hold with a $23.00 price target.
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Based on 8X8’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $40.93 million. In comparison, last year the company had a GAAP net loss of $23.77 million.
Based on the recent corporate insider activity of 38 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.
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.
