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Fly News Breaks for January 13, 2020
Jan 13, 2020 | 07:47 EDT
As previously reported, Morgan Stanley analyst Meta Marshall downgraded 8x8, Inc. (EGHT) to Equal Weight from Overweight with a price target of $23, down from $28. Like Avaya (AYVA) and Vonage (VG), Marshall believes 8x8 shares remain too inexpensive. However, all three names have not been growth leaders and she thinks all three of these companies face an uphill battle to regain confidence and lack near-term catalysts, leading her to believe Equal Weight ratings are appropriate for all three. 8x8 has had to invest heavily in the channel to catch up with investments made by RingCentral (RNG) and this has been more expensive and slower to show benefits than expected, Marshall noted.
News For EGHT;AVYA;VG;RNG From the Last 2 Days
May 27, 2022 | 11:05 EDT
Bullish option flow detected in Ringcentral with 3,116 calls trading, 3x expected, and implied vol increasing almost 3 points to 73.69%. Sep-22 60 calls and Sep-22 60 puts are the most active options, with total volume in those strikes near 2,700 contracts. The Put/Call Ratio is 0.13. Earnings are expected on August 2nd.