8×8 Inc. (EGHT) saw a big move last session, as the company’s shares fell over 8% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent downtrend for EGHT, as the stock is now down nearly 34% in the past one-month time frame.
The provider of unified communications and collaboration services has seen a mixed track record, as current year estimates witnessed no revision over the past few weeks, and the consensus for earnings hasn’t been in a trend either. This recent price action is discouraging, so make sure to keep a close watch of this firm in the near future, and especially on earnings estimates following the recent slump.
EGHT currently has a Zacks Rank #3 (Hold).
Some better-ranked stocks in the same sector include Harmonic Inc. (HLIT), Premiere Global Services, Inc. (PGI) and SeaChange International Inc. (SEAC). All these carry a Zacks Rank #2 (Buy).
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