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Fly News Breaks for July 18, 2019
EGHT
Jul 18, 2019 | 07:48 EDT
Needham analyst Richard Valera raised his price target on 8x8 to $28 and kept his Buy rating after the company's $125M acquisition for CPaaS provider Wavecell. The analyst notes that the latter may not have the scale of some of the other well-known CPaaS names, but still gives 8x8 a presence in this multi-billion dollar market and thus completes its "stack" while expanding its geographic presence to the Asia-Pac region.
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