Back to top

Tale of the Tape

Zacks Equity Research

Why 8x8 (EGHT) Stock Might be a Great Pick
November 11, 2016

EGHT

Trades from $3

One stock that might be an intriguing choice for investors right now is 8x8 Inc. (EGHT - Free Report) . This is because this security in the Communications Components space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.

This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is arguably taking place in the Communications Components space as it currently has a Zacks Industry Rank of 58 out of more than 250 industries, suggesting it is well-positioned from this perspective, especially when compared to other segments out there.

Meanwhile, 8x8 is actually looking pretty good on its own too. The firm has seen solid earnings estimate revision activity over the past month, suggesting analysts are becoming a bit more bullish on the firm’s prospects in both the short and long term.  

8X8 INC Price and Consensus

8X8 INC Price and Consensus | 8X8 INC Quote

In fact, over the past month, while current quarter estimates have remained constant, current year estimates have risen from a loss of 3 cents per share to breakeven level. This has helped EGHT to earn a Zacks Rank #2 (Buy), further underscoring the company’s solid position. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

So, if you are looking for a decent pick in a strong industry, consider 8x8. Not only is its industry currently in the top third, but it is seeing solid estimate revisions as of late, suggesting it could be a very interesting choice for investors seeking a name in this great industry segment.

Zacks' Top Investment Ideas for Long-Term Profit

How would you like to see our best recommendations to help you find today’s most promising long-term stocks? Starting now, you can look inside our portfolios featuring stocks under $10, income stocks, value investments and more. These picks, which have double and triple-digit profit potential, are rarely available to the public. But you can see them now. Click here >>


In-Depth Zacks Research for the Tickers Above

Normally $25 each - click below to receive one report FREE:

8X8 INC (EGHT) - free report >>