8x8 (EGHT) Management Meeting Reveals Pipeline Coverage Ahead of Historic Levels - Needham & Company

Needham & Company analyst, Richard Valera, reiterated a Buy rating and $26.00 price target on 8x8 (NYSE: EGHT) after hosting a breakfast meeting with CFO, Steven Gatoff, and coming away convinced that the company's recent 30%+ core bookings growth is sustainable and supported by pipeline coverage above historical levels.

The analyst stated "we came away with reinforced conviction that F3Q20 represented a margin trough and that EGHT is poised to see steady GM and OM expansion over the next year. While investors appear to, perhaps justifiably, be taking a "show me" attitude towards EGHT given recent disappointments, we see an attractive contrarian opportunity".

For an analyst ratings summary and ratings history on 8x8 click here. For more ratings news on 8x8 click here.

Shares of 8x8 closed at $20.17 yesterday.

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