Brokerages Give Hold Recommendation For 8x8, Inc. Stock
According to a recent report, around 16 brokerage houses have assigned a rating of hold for the 8x8 inc. stock. There is also one analyst who has assigned a rating of sell for the 8x8 stock. While the majority of analysts believe that holding the stock is the best move. There is also one analyst who believes in buying the 8x8 inc stock.
As per the analysis, a target of around $6 is set for the 8x8 inc for the next year. This is the average target set by multiple brokers who have done extensive research into the company's technical and fundamental outlook.
According to Northland Securities, the ideal price target for the 8x8 stock is $8. This was revealed in a research report published a few months ago.
Similarly, another analyst believes that the price target for 8x8 is around $6 - $5. According to them, a rating of neutral is ideal for the 8x8 stock.
And Morgan Stanley has come up with an even lower price target for the 8x8 inc. stock. According to them, it will be in the range of $4 - $5 in the near future.
There are also some analysts who have given a rating of equal weight to the stock. Recently, Wells Fargo also released a note in which they made it clear that they will be lowering the 8x8 price objective in the $4-$5 range. In addition, they assigned a rating of 'underweight' to the stock. But according to Wedbush, 8x8 stock has a rating of neutral and a price target of $7 is very reasonable.
Over all, the outlook for the 8x8 stock is very mixed as some are calling for hold, while others call for sell and even buy. But considering the prospects of slow-speed rate hikes in 2023, there's a chance that 8x8 stock could find some support from the market. That's why it would be wise to also pay close attention to other tech stocks in the USA.