Needham analyst Ryan Koontz reiterated a Buy rating on 8X8 (EGHT – Research Report) today and set a price target of $8.00. The company’s shares closed last Friday at $4.49.
Koontz covers the Technology sector, focusing on stocks such as 8X8, Calix, and DZS. According to TipRanks, Koontz has an average return of 6.0% and a 51.28% success rate on recommended stocks.
In addition to Needham, 8X8 also received a Buy from Craig-Hallum’s George Sutton in a report issued on August 5. However, on August 4, Oppenheimer downgraded 8X8 (NYSE: EGHT) to a Hold.
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EGHT market cap is currently $532.7M and has a P/E ratio of (3.29).
Based on the recent corporate insider activity of 112 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.
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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