Analysts recommend taking a closer look at 8×8 and Craig-Hallum
2022.12.02 11:32
Analysts recommend taking a closer look at 8×8 and Craig-Hallum
Budrigannews.com – On Friday, in a note to investors, analysts at Craig Hallum Capital reported that the company was thinking about Ringkentral, Inc. NYSE: as well as the merger of 8×8 Inc. In target terms, US$ 7 per 8×8 share, and US$ 60 per RNG, analysts consider both shares to be purchasable.
“We have been thinking for a long time that the unified communications market needs to be unified. It worked, maybe less consistently,” the testers said.
“While Microsoft through Teams, Zoom through Zoom Phone have won fame in the story, 8×8 remains one of the most notable competitors of RingCentral. We believe that “RingKentral” as a buyer and “8×8” as a seller should receive a large profit from the partnership of the two companies.
Due to the fact that the introduction of cloud technologies is “still in the launch stage,” they added, the market opportunities of both enterprises are still significant. “Only 21 million out of 400 million places have moved to the cloud, or less than 5 of the total number.
“Eliminating” RNG’s main competitor is likely to ease some issues related to promotions, commoditization and competition, and also creates a powerful firm that can enter the global market, use these opportunities in the best conditions of the division’s economy.” “We will go below our thoughts,” the experts said. Ring Central shares were down 3 percent on Friday, while EBITDA rose about 1.6 percent.
