8×8, Inc. (NASDAQ:EGHT – Get Free Report) has been assigned a consensus recommendation of “Hold” from the six brokerages that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $2.83.
Several analysts have recently commented on EGHT shares. Morgan Stanley downgraded shares of 8X8 from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $3.00 to $2.00 in a research report on Friday, June 14th. Wells Fargo & Company reduced their price target on shares of 8X8 from $2.00 to $1.50 and set an “underweight” rating for the company in a report on Friday, June 21st. StockNews.com lowered shares of 8X8 from a “buy” rating to a “hold” rating in a report on Saturday. Rosenblatt Securities restated a “buy” rating and issued a $4.00 target price on shares of 8X8 in a research note on Wednesday, August 7th. Finally, Barclays cut their price target on 8X8 from $3.00 to $2.00 and set an “equal weight” rating on the stock in a report on Friday, August 9th.
View Our Latest Report on EGHT
Hedge Funds Weigh In On 8X8
8X8 Price Performance
EGHT stock opened at $1.65 on Friday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 4.02. The firm has a market cap of $206.87 million, a price-to-earnings ratio of -3.00 and a beta of 1.56. The company’s fifty day simple moving average is $2.36 and its 200 day simple moving average is $2.52. 8X8 has a 12-month low of $1.51 and a 12-month high of $3.92.
8X8 (NASDAQ:EGHT – Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.01). The business had revenue of $172.80 million during the quarter, compared to the consensus estimate of $178.90 million. 8X8 had a negative return on equity of 7.40% and a negative net margin of 9.28%. The business’s revenue was down 5.7% on a year-over-year basis. During the same period last year, the business posted ($0.04) earnings per share. On average, analysts expect that 8X8 will post -0.07 earnings per share for the current year.
8X8 Company Profile
8×8, Inc provides voice, video, chat, contact center, and enterprise-class application programmable interface (API) Software-as-a-Service solutions for small business, mid-market, enterprise customers, government agencies, and other organizations worldwide. It offers 8×8 Work, a self-contained end-to-end united communications solution that delivers voice services, secure video meetings, and unified messaging, including direct messages, public and private team messaging rooms, and peer-to-peer short and multimedia messaging; 8×8 Contact Center, a cloud-based contact center as-a-service solution; and 8×8 Engage, an artificial intelligence-powered solution that equips customer-facing employees outside the contact center with the tools and capabilities to deliver successful customer engagements.
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