search icon
      blog search icon

      Analyst Upgrade Drives 8x8 Inc. (EGHT) Stock Higher

      By Fahim Awan

      Published on

      November 3, 2023

      4:26 PM UTC

      Analyst Upgrade Drives 8x8 Inc. (EGHT) Stock Higher

      8×8, Inc. (NASDAQ: EGHT) shares experienced a substantial surge in their market value during the previous trading session, soaring by 36.24% to culminate at $3.12. This notable upswing in 8×8 stock value followed an analyst’s upward revision of their recommendation. Specifically, on Thursday, the esteemed analyst firm Craig Hallum revised its stance on EGHT stock, elevating it from a prior “HOLD” status to a “BUY.” The analyst kept the price target for EGHT stock at $4.50.

      In a recent update, 8×8, Inc. (EGHT) proclaimed the triumphant launch of the 8×8 Ingenious Client Aid, facilitating enterprises to notably ameliorate their patron support encounters and simplify procedures within their contact centers. Since its introduction in March 2023, clients have reported impressive results, with more than 70% of inquiries being resolved on the first contact using this AI-powered service.

      Furthermore, interactions facilitated by the 8×8 Intelligent Customer Assistant have surged by over 50% compared to the previous quarter. This innovative solution, integrated as part of the 8×8 Contact Center, stands as a potent and user-friendly conversational AI tool, empowering businesses to create straightforward or intricate self-service interactions across digital and voice platforms.

      By incorporating a chatbot, 8×8 aimed to provide round-the-clock support for its customers, extending beyond regular business hours. The seamless integration of the 8×8 Intelligent Customer Assistant into their contact center has yielded impressive results, boasting an average initial contact resolution rate of 80%, sometimes even achieving a perfect 100%. It should be noted that this AI tool complements existing contact center operations and the contributions of human agents, ultimately enhancing the overall customer experience.

      The 8×8 Intelligent Customer Assistant offers graphical orchestration capabilities, enabling enterprises to establish highly scalable, consistently available experiences across various regions, channels, and languages, with minimal additional effort required. Customers of 8×8 benefit from a rapid return on investment, as these bots can be deployed and operational within four to six weeks, on average.

      The integration of AI-powered features allows organizations to provide personalized self-service support, fostering not only brand loyalty but also enhancing the experience of contact center agents. In essence, the 8×8 Intelligent Customer Assistant empowers organizations to better serve their customers, whether through voice or digital channels, by swiftly and seamlessly providing solutions and judiciously determining when to escalate issues to a live agent.

      More From Stocks telegraph