Analyst Josh Nichols from B. Riley has revised the price target for 8x8 (EGHT, Financial), reducing it from $4 to $3 while maintaining a Buy rating on the stock. This adjustment comes in anticipation of the company's fiscal Q4 report scheduled for release on May 19. Despite the decreased target, B. Riley remains optimistic about 8x8, suggesting that current market skepticism may be excessive. The firm's outlook is positive, particularly if 8x8 can achieve even modest growth in service revenue over the coming quarters.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 8 analysts, the average target price for 8x8 Inc (EGHT, Financial) is $2.76 with a high estimate of $4.00 and a low estimate of $1.50. The average target implies an upside of 43.13% from the current price of $1.93. More detailed estimate data can be found on the 8x8 Inc (EGHT) Forecast page.
Based on the consensus recommendation from 8 brokerage firms, 8x8 Inc's (EGHT, Financial) average brokerage recommendation is currently 2.9, indicating "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for 8x8 Inc (EGHT, Financial) in one year is $2.95, suggesting a upside of 52.85% from the current price of $1.93. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the 8x8 Inc (EGHT) Summary page.
