8×8 Inc (EGHT) : 10 analysts are covering 8×8 Inc (EGHT) and their average rating on the stock is 1.4, which is read as a Strong Buy. 7 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. 8×8 Inc (EGHT) also receives 2 more Buy recommendations from analysts who believe that the stock will do well going forward. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. A total of 1 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.
8×8 Inc (EGHT) : 9 Wall Street analysts covering 8×8 Inc (EGHT) believe that the average level the stock could reach for the short term is $16.67. The maximum price target given is $18 and the minimum target for short term is around $14, hence the standard deviation is calculated at $1.32.
For the current week, the company shares have a recommendation consensus of Buy. 8×8 Inc (NASDAQ:EGHT): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $13.56 and $13.46 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $13.66. The buying momentum continued till the end and the stock did not give up its gains. It closed at $13.63, notching a gain of 0.66% for the day. The total traded volume was 535,751 . The stock had closed at $13.54 on the previous day.
In a related news, The Securities and Exchange Commission has divulged that Martin Bryan R, officer (Chief Technology Officer) of 8×8 Inc /De/, had unloaded 43,142 shares at an average price of $12.45 in a transaction dated on May 24, 2016. The total value of the transaction was worth $537,118.
8×8, Inc. (8×8) offers Software as a Service (SaaS) communication solution. The Company is engaged in business cloud communications and development and use of Internet protocol voice, video and data communication technologies in a true SaaS model. The 8×8 unified cloud communications solution addresses the shortcomings of legacy and point solution cloud services through its pure cloud Software as a Service offering. The Companys Infrastructure Manager abstracts complex global interconnectivity between Voice over Internet Protocol (VoIP) and traditional public switched telephone network (PSTN) providing customers with a phone system that can reach any phone in the world whether wireless or wireline. Its Integration Manager integrates with third-party applications, including Salesforce.com, Microsoft Dynamics, NetSuite, Zendesk and many others, to provide integrated applications functionality within its communications and collaboration services.