8x8 (EGHT) PT Raised to $25 at Oppenheimer After Meeting with Management

Oppenheimer analyst Timothy Horan raised the price target on 8x8 (NYSE: EGHT) to $25.00 (from $22.00) while maintaining a Outperform rating after hosting management on the road. The company is seeing improved bookings from its channel partners, and should see steadily improving growth from here; it will take two to three quarters before mid-market bookings reach their goals.

EGHT highlighted its single platform for all its owned communications pillars, which can enable better data aggregation and analytics. The company is also more confident today in its contact center as a standalone solution and plans to lead with it more often to win larger deals.

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