8×8, Inc. (NASDAQ:EGHT) has earned an average recommendation of “Buy” from the fifteen research firms that are covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $18.89.
A number of equities analysts have recently issued reports on the company. Zacks Investment Research upgraded 8X8 from a “sell” rating to a “hold” rating in a report on Tuesday, October 17th. Summit Redstone cut 8X8 from a “buy” rating to a “hold” rating in a report on Friday, October 27th. BidaskClub upgraded 8X8 from a “hold” rating to a “buy” rating in a report on Wednesday, January 24th. B. Riley reiterated a “hold” rating and issued a $14.00 price objective on shares of 8X8 in a report on Tuesday, January 23rd. Finally, William Blair reiterated a “hold” rating on shares of 8X8 in a report on Tuesday, January 23rd.
In other news, insider Bryan R. Martin sold 100,000 shares of the company’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $17.86, for a total value of $1,786,000.00. Following the completion of the transaction, the insider now directly owns 1,001,010 shares in the company, valued at approximately $17,878,038.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.40% of the stock is currently owned by corporate insiders.
8X8 (EGHT) traded up $0.67 during trading on Tuesday, reaching $17.47. The company had a trading volume of 438,700 shares, compared to its average volume of 1,105,530. 8X8 has a twelve month low of $10.30 and a twelve month high of $18.50. The stock has a market capitalization of $1,540.00, a PE ratio of -17.06 and a beta of 0.71.
8X8 (NASDAQ:EGHT) last posted its earnings results on Thursday, January 25th. The technology company reported $0.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.06. 8X8 had a positive return on equity of 0.03% and a negative net margin of 2.56%. The business had revenue of $75.58 million during the quarter, compared to analysts’ expectations of $73.90 million. During the same period in the previous year, the business earned $0.06 earnings per share. The firm’s revenue was up 18.7% on a year-over-year basis. equities analysts anticipate that 8X8 will post -0.12 EPS for the current fiscal year.
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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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