8X8’s (EGHT) “Buy” Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reaffirmed their buy rating on shares of 8X8 (NASDAQ:EGHT) in a research report released on Thursday,Benzinga reports. The firm currently has a $3.00 target price on the stock.

A number of other research firms have also recently commented on EGHT. Weiss Ratings reissued a “sell (d)” rating on shares of 8X8 in a research report on Tuesday, September 1st. B. Riley Financial reaffirmed a “buy” rating and set a $3.25 price target (up from $3.00) on shares of 8X8 in a research report on Wednesday, August 5th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $3.12.

8X8 Price Performance

EGHT opened at $1.84 on Thursday. The business’s 50-day moving average is $1.98 and its two-hundred day moving average is $1.99. 8X8 has a 1 year low of $1.57 and a 1 year high of $2.88. The company has a debt-to-equity ratio of 1.83, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market capitalization of $265.77 million, a PE ratio of 46.01, a price-to-earnings-growth ratio of 1.26 and a beta of 1.84.

8X8 (NASDAQ:EGHT) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.04 by $0.05. 8X8 had a net margin of 0.64% and a return on equity of 28.72%. The business had revenue of $190.17 million during the quarter, compared to analyst estimates of $182.47 million. 8X8 has set its FY 2027 guidance at 0.330-0.380 EPS and its Q2 2027 guidance at 0.070-0.080 EPS. Research analysts anticipate that 8X8 will post 0.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Kevin Kraus sold 34,329 shares of the stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $2.32, for a total value of $79,643.28. Following the transaction, the chief financial officer directly owned 958,324 shares of the company’s stock, valued at approximately $2,223,311.68. This represents a 3.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Elizabeth Theophille sold 20,207 shares of 8X8 stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $1.81, for a total value of $36,574.67. Following the sale, the director directly owned 167,086 shares of the company’s stock, valued at $302,425.66. This trade represents a 10.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.13% of the stock is owned by insiders.

Institutional Trading of 8X8

Several institutional investors and hedge funds have recently bought and sold shares of the business. Sequoia Financial Advisors LLC acquired a new stake in shares of 8X8 in the first quarter worth $25,000. Heron Bay Capital Management purchased a new stake in 8X8 in the second quarter valued at $25,000. Legal & General Group Plc purchased a new stake in 8X8 in the second quarter valued at $26,000. Prelude Capital Management LLC acquired a new stake in 8X8 during the 3rd quarter worth about $26,000. Finally, CIBC Bancorp USA Inc. acquired a new stake in 8X8 during the 3rd quarter worth about $30,000. 93.99% of the stock is currently owned by institutional investors and hedge funds.

About 8X8

8×8, Inc (NASDAQ: EGHT) is a global provider of cloud-based enterprise communications, collaboration and contact centre solutions. The company’s unified communications as a service (UCaaS) platform integrates voice, video, chat, SMS and contact-centre capabilities into a single, software-driven solution. By combining real-time analytics, team messaging and interoperability with third-party business applications, 8×8 aims to simplify communications infrastructure for organisations of all sizes.

Founded in 1987 and headquartered in Campbell, California, 8×8 pioneered hosted VoIP services for businesses in the late 1990s and went public on the NASDAQ in 1997.