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Analyst Rating In Review: 8X8 INC Bid Up 13.4% Since Upgraded 7 Days Ago (EGHT)

Published on Fri, 03/08/2013 - 10:12
By Adrienne Chilton

One week ago 8X8 INC (NASDAQ:EGHT) was upgraded from Market Perform to Outperform at Northland Securities. 8X8 INC shares are selling at $6.86, 13.4% above the $6.05 price point of one week ago.

8x8, Inc. provides voice-over-Internet protocol creation platforms, hosted Internet PBX solutions, voice and video semiconductors, and related software. The Company offers service providers the tools to create next-generation Internet protocol network services, while providing telecommunications manufacturers with embedded technology, software stacks, and reference designs.

Over the past year, 8X8 INC has traded in a range of $2.55 to $7.95 and is now at $6.78, 166% above that low. The 200-day and 50-day moving averages have moved 0.95% higher and 0.67% lower over the past week, respectively.

8X8 INC has overhead space with shares priced $6.78, or 19.2% below the average consensus analyst price target of $8.40. The stock should find resistance at its 50-day moving average (MA) of $7.05, as well as support at its 200-day MA of $6.00.

By Adrienne Chilton
achilton@fnno.com