10 Oversold Tech Stocks To Buy Right Now

6. 8×8, Inc. (NASDAQ:EGHT)  

Number of Hedge Fund Investors: 19  

Forward P/E Ratio as of October 15: 6.40  

YTD Performance as of October 15: -44.18%  

8×8, Inc. (NASDAQ:EGHT) is a provider of Unified Communications as a Service (UCaaS), Contact Center as a Service (CCaaS), and Communications Platform as a Service (CPaaS) on a single integrated platform. The company’s technology partner ecosystem enables seamless integration of plugin solutions onto its core platform.

8×8, Inc.’s (NASDAQ:EGHT) investment in artificial intelligence (AI) is expected to drive revenue growth and offset the impact of AI bots replacing human agents. The company’s latest AI-based product offerings have seen revenue increase by more than 40% year-over-year, and management has highlighted a revenue opportunity of between $100 to $150 million if they succeed in selling at least five of their nine products to their existing customer base.

8×8, Inc.’s (NASDAQ:EGHT) strong position in the UCaaS and CCaaS space, combined with its fully integrated platform and access to the best solutions on the market through its technology partner ecosystem, sets it apart from its competitors. Despite facing challenges from increased competition and a weak macroeconomic environment, the company’s ability to differentiate itself through its technology and strong financial position makes it an attractive investment opportunity. Analysts have a consensus Buy rating on the stock, with a target price of $3.57, indicating a potential gain of 52.29% from its current price.