Rosenblatt analyst Catharine Trebnick lowered the firm’s price target on 8×8 (EGHT) to $3.50 from $4 and keeps a Buy rating on the shares. The firm says that while channel checks suggest continued demand for the company’s solutions and new product activity is picking up, the overall environment presents some near-term challenges. IT budgets are tight as companies appear to be delaying spending decisions until after the election, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on EGHT:
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
