8×8 price target lowered to $3.50 from $5 at Needham
The Fly

8×8 price target lowered to $3.50 from $5 at Needham

Needham analyst Ryan Koontz lowered the firm’s price target on 8×8 to $3.50 from $5 and keeps a Buy rating on the shares. The company’s otherwise “solid” Q4 results were impacted by increased churn from its Fuze acquisition, while the management’s outlook for FY25 revenue growth is being impacted by continued UCaaS headwinds and needs to fund free cash flow to address its current debt load that is 3.5-times expected FY26 EBITDA, the analyst tells investors in a research note.

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