8X8 (NASDAQ:EGHT) Director Sells $193,823.85 in Stock

8×8 Inc (NASDAQ:EGHT) Director Andrew Burton sold 107,085 shares of the business’s stock in a transaction on Friday, September 11th. The shares were sold at an average price of $1.81, for a total value of $193,823.85. Following the completion of the sale, the director directly owned 151,615 shares in the company, valued at approximately $274,423.15. This represents a 41.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

8X8 Stock Performance

8X8 stock opened at $1.80 on Thursday. The firm has a market capitalization of $259.99 million, a P/E ratio of 45.01, a P/E/G ratio of 1.26 and a beta of 1.84. The stock has a fifty day moving average price of $1.97 and a two-hundred day moving average price of $1.99. 8×8 Inc has a 52-week low of $1.57 and a 52-week 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.

8X8 (NASDAQ:EGHT) last issued its 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 company had revenue of $190.17 million for the quarter, compared to the consensus estimate 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. As a group, analysts anticipate that 8×8 Inc will post 0.2 EPS for the current fiscal year.

Hedge Funds Weigh In On 8X8

Several large investors have recently made changes to their positions in EGHT. Cetera Investment Advisers grew its stake in 8X8 by 9.4% in the first quarter. Cetera Investment Advisers now owns 48,053 shares of the company’s stock valued at $80,000 after acquiring an additional 4,144 shares during the period. Sei Investments Co. raised its position in shares of 8X8 by 38.9% during the first quarter. Sei Investments Co. now owns 29,209 shares of the company’s stock worth $48,000 after purchasing an additional 8,177 shares during the period. SG Americas Securities LLC lifted its holdings in shares of 8X8 by 38.6% during the 1st quarter. SG Americas Securities LLC now owns 36,910 shares of the company’s stock valued at $61,000 after purchasing an additional 10,280 shares in the last quarter. Heron Bay Capital Management acquired a new position in shares of 8X8 in the 2nd quarter valued at approximately $25,000. Finally, Legal & General Group Plc acquired a new position in shares of 8X8 in the 2nd quarter valued at approximately $26,000. Institutional investors and hedge funds own 93.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on EGHT. B. Riley Financial reaffirmed a “buy” rating and set a $3.25 price objective (up from $3.00) on shares of 8X8 in a report on Wednesday, August 5th. Weiss Ratings reissued a “sell (d)” rating on shares of 8X8 in a report on Tuesday, September 1st. Finally, Rosenblatt Securities restated a “buy” rating and set a $3.00 price target on shares of 8X8 in a research report on Thursday, September 10th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $3.12.

8X8 Company Profile

8×8, Inc is a cloud communications and customer engagement company that provides voice, video, messaging, contact center and application programming interface (API) services through its integrated platform. Its offerings are designed to help businesses manage internal communications, customer interactions and digital workflows from the cloud.

The company’s product portfolio includes 8×8 Work, a unified communications solution for business calling, team messaging and meetings, and 8×8 Contact Center, which supports customer service operations across voice and digital channels.