Several brokerages have updated their recommendations and price targets on shares of 8×8 (NASDAQ: EGHT) in the last few weeks:

  • 8/5/2017 – 8×8 was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 8/2/2017 – 8×8 was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “sell” rating. According to Zacks, “8X8, Inc. (formerly Netergy Networks Inc.), and its two subsidiaries, Netergy Microelectronics and Centile, Inc., are providers of IP-based services, service creation environment and delivery tools, and embedded network appliance technology to help communication service providers and telecommunication equipment manufacturers succeed in the New Telecom Landscape, where voice, data and video converge into an ubiquitous IP network. “
  • 7/30/2017 – 8×8 had its “hold” rating reaffirmed by analysts at William Blair. They wrote, “We argued (with our recent downgrade) that based on tough comps and slowing bookings growth from the midmarket/enterprise segment, the company will either need to lower its service revenue growth projections or step up its operating expenses to achieve the magic number (investor expectations) of 20% growth for fiscal 2018. 8×8 has chosen the latter by planning to significantly ratchet up R&D and sales and marketing spending over the next three quarters. It appears the company is attempting to augment its go-to-market strategy amid what we believe is growing competition from both public and small private UCaaS players. According to management, channel is the fastest growing segment at roughly 80%, with 6 out of the top 10 deals in the quarter coming from it. Most of the incremental spending will focus on building out the channel. Management will need to grapple, however, with high channel acquisition costs and sales commissions, which according to our field surveys continue to rise. Case in point, sales commissions to the channel exceeded management expectations this quarter. Given new guidance, we are modeling operating expenses to grow 28% year-over-year in fiscal 2018 and 17% in 2019, while we model revenue to grow 16% in both years.””
  • 7/29/2017 – 8×8 had its “neutral” rating reaffirmed by analysts at B. Riley. They now have a $14.00 price target on the stock.
  • 7/28/2017 – 8×8 was downgraded by analysts at Craig Hallum from a “buy” rating to a “hold” rating. They now have a $15.00 price target on the stock, down previously from $19.00.
  • 7/28/2017 – 8×8 was given a new $18.00 price target on by analysts at Northland Securities. They now have a “buy” rating on the stock.
  • 7/25/2017 – 8×8 was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong-buy” rating. They now have a $16.00 price target on the stock. According to Zacks, “8X8, Inc. (formerly Netergy Networks Inc.), and its two subsidiaries, Netergy Microelectronics and Centile, Inc., are providers of IP-based services, service creation environment and delivery tools, and embedded network appliance technology to help communication service providers and telecommunication equipment manufacturers succeed in the New Telecom Landscape, where voice, data and video converge into an ubiquitous IP network. “
  • 7/24/2017 – 8×8 had its “neutral” rating reaffirmed by analysts at B. Riley. They now have a $14.00 price target on the stock.
  • 7/19/2017 – 8×8 had its “neutral” rating reaffirmed by analysts at B. Riley. They now have a $14.00 price target on the stock.
  • 7/19/2017 – 8×8 was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “8X8, Inc. (formerly Netergy Networks Inc.), and its two subsidiaries, Netergy Microelectronics and Centile, Inc., are providers of IP-based services, service creation environment and delivery tools, and embedded network appliance technology to help communication service providers and telecommunication equipment manufacturers succeed in the New Telecom Landscape, where voice, data and video converge into an ubiquitous IP network. “
  • 7/18/2017 – 8×8 was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $16.00 price target on the stock. According to Zacks, “8X8, Inc. (formerly Netergy Networks Inc.), and its two subsidiaries, Netergy Microelectronics and Centile, Inc., are providers of IP-based services, service creation environment and delivery tools, and embedded network appliance technology to help communication service providers and telecommunication equipment manufacturers succeed in the New Telecom Landscape, where voice, data and video converge into an ubiquitous IP network. “
  • 6/24/2017 – 8×8 was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.

8×8 Inc (EGHT) traded down 1.53% during mid-day trading on Tuesday, reaching $12.85. The company’s stock had a trading volume of 612,762 shares. The firm’s 50 day moving average price is $14.31 and its 200 day moving average price is $14.55. The stock’s market cap is $1.18 billion. 8×8 Inc has a 12-month low of $10.30 and a 12-month high of $16.80.

8×8 (NASDAQ:EGHT) last announced its quarterly earnings results on Thursday, July 27th. The technology company reported $0.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by $0.01. 8×8 had a negative net margin of 2.44% and a positive return on equity of 1.38%. The business had revenue of $69.10 million during the quarter, compared to analyst estimates of $68.65 million. During the same period last year, the company earned $0.04 EPS. The business’s revenue for the quarter was up 15.1% on a year-over-year basis. On average, equities analysts predict that 8×8 Inc will post $0.07 earnings per share for the current year.

In other news, CFO Mary Ellen P. Genovese bought 11,625 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were purchased at an average price of $12.78 per share, with a total value of $148,567.50. Following the purchase, the chief financial officer now owns 92,106 shares in the company, valued at $1,177,114.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Vikram Verma bought 11,700 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were purchased at an average cost of $12.80 per share, for a total transaction of $149,760.00. The disclosure for this purchase can be found here. 4.40% of the stock is currently owned by corporate insiders.

8×8, Inc provides cloud-based, enterprise-class software solutions. The Company’s solutions are delivered through Software as a Service (SaaS) business model. Its segments include Americas and Europe. Its software platform brings together cloud, mobile, collaboration, video and data science technologies.

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