B. Riley FBR analyst Josh Nichols upgraded 8x8, Inc. to Neutral from Sell with an unchanged price target of $18.50. The analyst is stepping back to the sidelines ahead of the company's fiscal Q2 results on October 30, noting that the shares have been under pressure since the Q1 report at the end of July. Investor sentiment "appears to be shifting somewhat" with an increased focus on profitability, and the stock could remain under pressure if growth and cash burn do not significantly improve, Nichols tells investors in a research note. Despite the upgrade to Neutral he believes "execution risk lingers" at current valuation levels.