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8X8 INC Makes a Move: Down 1.4%

Published on Thu, 05/09/2013 - 12:31
By Peter Chu

8X8 INC (NASDAQ:EGHT) is a company whose shares are active, trading 1.4% lower to $7.55. The S&P is currently trading fractionally lower to 1,629 and the Dow Jones Industrial Average is trading fractionally lower to 15,101.

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 $7.55, 196% above that low. The 200-day and 50-day moving averages have moved 0.66% higher and 1.16% higher over the past week, respectively.

Potential upside of 12.3% exists for 8X8 INC, based on a current level of $7.55 and analysts' average consensus price target of $8.48. The stock should find initial support at its 50-day moving average (MA) of $6.95 and further support at its 200-day MA of $6.61.

By Peter Chu
pchu@fnno.com