Analysts Offer Insights on Technology Companies: 8X8 (NYSE: EGHT) and Nokia (NYSE: NOK)

By Austin Angelo

There’s a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on 8X8 (EGHTResearch Report) and Nokia (NOKResearch Report) with bullish sentiments.

8X8 (EGHT)

In a report released today, Michael Latimore from Northland Securities maintained a Buy rating on 8X8, with a price target of $36.00. The company’s shares closed last Wednesday at $30.83, close to its 52-week high of $31.74.

According to TipRanks.com, Latimore is a top 100 analyst with an average return of 26.7% and a 64.5% success rate. Latimore covers the Technology sector, focusing on stocks such as Comtech Telecommunications, Synchronoss Technologies, and Ribbon Communications.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for 8X8 with a $27.90 average price target, a -10.6% downside from current levels. In a report issued on December 10, Stephens also maintained a Buy rating on the stock with a $30.00 price target.

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Nokia (NOK)

In a report released today, Tim Savageaux from Northland Securities maintained a Buy rating on Nokia, with a price target of $5.00. The company’s shares closed last Wednesday at $3.99.

According to TipRanks.com, Savageaux is a 5-star analyst with an average return of 16.8% and a 64.3% success rate. Savageaux covers the Technology sector, focusing on stocks such as MACOM Technology Solutions Holdings, Applied Optoelectronics, and Communications Systems.

Currently, the analyst consensus on Nokia is a Moderate Buy with an average price target of $4.40, which is a 9.7% upside from current levels. In a report issued on December 9, Kepler Capital also maintained a Buy rating on the stock with a EUR3.80 price target.

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