Top Stock to Buy #1 – 8×8 Inc. (EGHT)
8×8 Inc. (EGHT) is a telecommunications company that develops services for Internet protocol (IP), telephony and video applications. It also offers Web-based conferencing and cloud-based computing services.
The company announced full-year fiscal 2013 earnings on May 22 of $0.20, up 42% from the prior year, and total revenue of $107.6 million, the first time annual revenue has exceeded $100 million. The next quarterly earnings announcement is scheduled for July 24.
Traders who bought in March may want to nail down a profit. However, the stock is trading in a well-defined bull channel and our new target is $12. The chart is extremely bullish, and while I’d prefer to buy the stock under $8, it may be bought at the market.