8×8 price target lowered to $2.50 from $2.70 at Rosenblatt

Rosenblatt lowered the firm’s price target on 8×8 (EGHT) to $2.50 from $2.70 and keeps a Buy rating on the shares. The firm says the company reported solid total revenue and service revenue in fiscal Q1. It cites near-term margin declines for the target cut.