A Few Positives and Negatives For 8×8 Inc. (EGHT), Crown Castle International Corp. (REIT) (CCI)

You should consider shares of 8×8 Inc. (NYSE:EGHT) and Crown Castle International Corp. (REIT) (NYSE:CCI) if you are looking for a great stocks to invest in. Starting with the EGHT shares, which traded at $20.10 at the close of the recent session, gaining 3.08%. On Wednesday, the company’s shares shed $0.6 from its value which represented in intraday trading. The stock is now 9.84% higher in year-to-date (YTD) trading. EGHT’s intraday high was $20.20 while its lowest price touched $19.62. The stock’s 52-week high price is $26.67, which means the current price is at -24.63%. In terms of trading activity, the daily trading volume rose to 1451051 against 200-day average trading volume of 1,294,916 shares.

What are analyst forecasts for 8×8 Inc. (NYSE:EGHT)?

At a consensus rating of 4.08, EGHT is trending as a streaking Moderate Buy, as it has been the case a month ago when 12 analysts called it a Moderate Buy. Two months ago, 12 analysts recommended, on average, that EGHT stock is a Moderate Buy. The Technology company’s shares’ overall bullish trend saw it close lower on Wednesday compared to its opening price of $19.62 on the day.

Forecasts for 8×8 Inc. (NYSE:EGHT) give the stock a fair value for the growth of 19.6% from its last price. The 12-month price forecast for the stock by analysts puts the stock’s mean price target at $25.00, which means the price per share could rise by nearly $4.9. The price range target is between a low of $18.50 and a high of $30.00. The stock would need to gain by about $33.0 to hit the estimated high or 0.82% from its 12-month low.

The consensus among 15 analysts is that it is a good time for one to Overweight in the 8×8 Inc. 7 analysts rate EGHT as a Buy, with 0 of 15 analysts rate it as a Sell. 1 have valued the stock as Overweight and 6 have recommended that investors Hold.

8×8 Inc. (NYSE:EGHT) Upgrades and Downgrades

In terms of rating changes, Morgan Stanley on January 13, 2020, Downgrade 8×8 Inc. (EGHT) at Equal-Weight. They believe the stock could reach $23 in the near term. Analysts at B. Riley FBR have assigned a Neutral rating for the stock in their research note on October 24, 2019 with an estimated price target of $18.50. Moreover, BofA/Merrill analysts issued a rating of Underperform for the stock on September 30, 2019. On July 31, 2019, the stock earned a Neutral rating due to an analyst call from BofA/Merrill, while analysts from B. Riley FBR on July 31, 2019 suggested that the stock is Sell.

Crown Castle International Corp. (REIT) (NYSE:CCI) adds $2.1 on Wednesday

The CCI stock has risen 1.34% year-to-date and is currently trading at $144.05, which is -3.63% below its 52-week high. The company shares gained 1.48% on the day and have risen nearly 35.39% off a low hit. At current levels, Crown Castle International Corp. (REIT) has a valuation of about $5.84B. As of 01/15/20, this stock has risen 3.30% during the week and closed at $141.95 in the previous session. However, recent Crown Castle International Corp. (REIT) stock performance shows that CCI shares are 8.57% up over the last month, and 6.98% up for the last three months.

Earnings per share (EPS) estimates for the current quarter are $0.44, with the trailing 12-month share earnings at $1.98. The ratio is expected to be up by 50.70% for the current year 2019 and 20.30% for next year. Over the next 5-year period, earnings per share will be 21.00%. But will the CCI stock surprise in the current quarter results, where the $0.58 actual EPS reported on 9/29/2019 surprised by 18.40% or was higher by $0.09 from the estimated $0.49.

Sales Growth to climb 4.60% for the year

How well will Crown Castle International Corp. (REIT) perform as a business over the current quarter, year and next 5-year period? Compared to the year-ago quarter, analysts forecast the company to bring in between $1.47B and $1.5B in current quarter sales. The consensus estimated for the current quarter is $1.49B from sales. Forecasts for this fiscal year are between $5.89B and $5.95B and the consensus estimate for sales is at $5.91B. CCI has its next quarter sales estimates at between $1.47B and $1.53B, with the quarter-over-quarter growth estimates at 5.20% and the annual growth forecast for the year at 4.60%.

Who owns shares in Crown Castle International Corp. (REIT) (CCI)?

Let’s briefly focus on the share ownership of the Crown Castle International Corp. (REIT) (NYSE:CCI) stock, where we find that 94.30% of shares are held by institutions. Vanguard Group, Inc. (The) tops the list of institutional owners as it is holding 54.45 million shares or 13.10% of shares outstanding. Blackrock Inc. and State Street Corporation held 29.72 million and 18.58 million representing 7.15% and 4.47% respectively at the close of the last trading session. As of Sep 29, 2019, Capital World Investors accounted for 15.49 million shares at over 2.15 billion. This represented 3.73% of shares outstanding. Magellan Asset Management Ltd held 12.61 million shares at over 1.75 billion representing 3.03% of shares outstanding.

CCI Insider Activity

Insider activity can also give a signal in terms of price direction. Looking at Crown Castle International Corp. (REIT) (CCI), a total of 11500 shares have been sold by insiders over the last 6 months while 42406 shares were added in the same time span. On 2/19/2019, Director by the name Moreland W Benjamin sold 29446.0 shares worth $3.5 million at the price of $120.13 per share. Filings also show that Brown Jay A sold a total of 22314.0 shares on 2/19/2019 valued at $2.7 million. Since the last insider activity, the company’s share price has climbed 19.89%.