Weekly Research Analysts’ Ratings Updates for 8X8 (EGHT)

Several brokerages have updated their recommendations and price targets on shares of 8X8 (NASDAQ: EGHT) in the last few weeks:

  • 1/29/2018 – 8X8 was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “8×8, Inc. is the provider of the world’s first Communications Cloud that combines unified communications, team collaboration interoperability, contact center and real-time analytics in a single open platform that integrates across clouds, applications and devices, eliminating information silos to expose vital, real-time intelligence. 8×8, Inc. reduces complexity, cost, improve individual, team productivity, performance, and enhance the overall customer experience. 8×8 ensures high reliability and business continuity by delivering its cloud-based communications through the use of secure, fully redundant data centers. 8×8 communications are designed with built-in redundancy and no single point of failure. This highly secure, top-tier data centers are located in geographically dispersed sites across the globe. These data centers are SSAE 16 audited and provide automatic and transparent failover to prevent disruptions in service. “
  • 1/26/2018 – 8X8 had its price target raised by analysts at Bank of America Corp from $19.00 to $22.00. They now have a “buy” rating on the stock.
  • 1/26/2018 – 8X8 had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $19.00 price target on the stock, up previously from $16.00.
  • 1/26/2018 – 8X8 had its price target raised by analysts at B. Riley from $14.00 to $16.00. They now have a “neutral” rating on the stock.
  • 1/26/2018 – 8X8 had its “buy” rating reaffirmed by analysts at Robert W. Baird. They now have a $21.00 price target on the stock.
  • 1/25/2018 – 8X8 was downgraded by analysts at TheStreet from a “c” rating to a “d” rating.
  • 1/24/2018 – 8X8 was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 1/23/2018 – 8X8 had its “hold” rating reaffirmed by analysts at William Blair. They wrote, “We remain cautious on 8×8 shares despite investor exuberance related to valuation discrepancy (relative to a public peer) and recently aroused M&A speculation. In our view , the stock appears ahead of itself heading into the print, in light of ongoing sales- and-marketing restructuring, which is likely to take several quarters to execute upon. In the meantime, we expect pressure on operating margin (due to aggressive hiring) and sales bookings (due to salesforce rotation and involuntary churn). While we believe 8×8 is making the right changes to emerge from this transformation as a better-executing and more-focused growth company , we would need to see evidence of the turnaround first manifesting itself in the improved bookings growth rates (in either SMB or midmarket/enterprise segment) and sales productivity metrics.””
  • 1/23/2018 – 8X8 had its “hold” rating reaffirmed by analysts at B. Riley. They now have a $14.00 price target on the stock.
  • 1/17/2018 – 8X8 was upgraded by analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating. They now have a $19.00 price target on the stock.
  • 1/16/2018 – 8X8 was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “8×8, Inc. is the provider of the world’s first Communications Cloud that combines unified communications, team collaboration interoperability, contact center and real-time analytics in a single open platform that integrates across clouds, applications and devices, eliminating information silos to expose vital, real-time intelligence. 8×8, Inc. reduces complexity, cost, improve individual, team productivity, performance, and enhance the overall customer experience. 8×8 ensures high reliability and business continuity by delivering its cloud-based communications through the use of secure, fully redundant data centers. 8×8 communications are designed with built-in redundancy and no single point of failure. This highly secure, top-tier data centers are located in geographically dispersed sites across the globe. These data centers are SSAE 16 audited and provide automatic and transparent failover to prevent disruptions in service. “

8×8, Inc. (EGHT) traded up $0.95 during mid-day trading on Tuesday, hitting $17.75. 1,973,289 shares of the stock were exchanged, compared to its average volume of 1,156,436. The stock has a market capitalization of $1,540.00, a PE ratio of -17.40 and a beta of 0.71. 8×8, Inc. has a twelve month low of $10.30 and a twelve month high of $18.50.

8X8 (NASDAQ:EGHT) last released its earnings results on Thursday, January 25th. The technology company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.06. The business had revenue of $75.58 million during the quarter, compared to analysts’ expectations of $73.90 million. 8X8 had a negative net margin of 2.56% and a positive return on equity of 0.03%. The company’s quarterly revenue was up 18.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.06 earnings per share. analysts predict that 8×8, Inc. will post -0.12 earnings per share for the current year.

In other news, insider Bryan R. Martin sold 100,000 shares of the business’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $17.86, for a total transaction of $1,786,000.00. Following the completion of the sale, the insider now owns 1,001,010 shares of the company’s stock, valued at $17,878,038.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.40% of the stock is owned by 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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