Recent Investment Analysts’ Ratings Changes for 8X8 (EGHT)

A number of research firms have changed their ratings and price targets for 8X8 (NASDAQ: EGHT):

• 11/5/2024 – 8X8 had its price target raised by analysts at Wells Fargo & Company from $1.50 to $2.00. They now have an “underweight” rating on the stock.
• 11/5/2024 – 8X8 had its price target raised by analysts at Mizuho from $2.50 to $2.75. They now have a “neutral” rating on the stock.
• 11/5/2024 – 8X8 had its price target raised by analysts at Barclays PLC from $2.00 to $2.50. They now have an “equal weight” rating on the stock.
• 11/4/2024 – 8X8 was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 10/28/2024 – 8X8 had its price target lowered by analysts at Rosenblatt Securities from $4.00 to $3.50. They now have a “buy” rating on the stock.
• 10/25/2024 – 8X8 was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 10/24/2024 – 8X8 had its “buy” rating reaffirmed by analysts at B. Riley. They now have a $4.00 price target on the stock, down previously from $7.00.
• 10/17/2024 – 8X8 was upgraded by analysts at Wedbush to a “hold” rating.
• 10/16/2024 – 8X8 was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.

8X8 Stock Performance

Shares of EGHT stock traded down $0.06 during mid-day trading on Monday, hitting $2.75. 536,652 shares of the stock were exchanged, compared to its average volume of 1,194,320. 8×8, Inc. has a 12-month low of $1.51 and a 12-month high of $3.92. The company has a debt-to-equity ratio of 3.26, a quick ratio of 1.18 and a current ratio of 1.18. The stock has a market capitalization of $359.32 million, a price-to-earnings ratio of -5.00, a P/E/G ratio of 24.14 and a beta of 1.54. The stock’s fifty day simple moving average is $2.14 and its two-hundred day simple moving average is $2.29.

8X8 (NASDAQ:EGHT) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. 8X8 had a negative net margin of 9.68% and a negative return on equity of 6.00%. The company had revenue of $181.00 million for the quarter, compared to analyst estimates of $178.38 million. During the same period in the previous year, the business posted $0.02 earnings per share. 8X8’s quarterly revenue was down 2.2% on a year-over-year basis. On average, analysts forecast that 8×8, Inc. will post 0.01 EPS for the current year.

Institutional Investors Weigh In On 8X8

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of 8X8 by 5.2% during the 1st quarter. Vanguard Group Inc. now owns 11,448,865 shares of the company’s stock worth $30,912,000 after purchasing an additional 561,436 shares during the period. Invenomic Capital Management LP lifted its position in shares of 8X8 by 10.5% during the 3rd quarter. Invenomic Capital Management LP now owns 5,528,497 shares of the company’s stock valued at $11,278,000 after acquiring an additional 524,580 shares during the period. Boston Partners boosted its stake in shares of 8X8 by 473.2% during the 1st quarter. Boston Partners now owns 3,722,710 shares of the company’s stock worth $10,029,000 after acquiring an additional 3,073,230 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of 8X8 by 8.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,982,393 shares of the company’s stock worth $6,085,000 after acquiring an additional 237,181 shares during the period. Finally, Acadian Asset Management LLC grew its holdings in 8X8 by 188.7% in the first quarter. Acadian Asset Management LLC now owns 1,957,145 shares of the company’s stock valued at $5,283,000 after purchasing an additional 1,279,145 shares during the last quarter. Hedge funds and other institutional investors own 93.99% of the company’s stock.

8×8, Inc provides voice, video, chat, contact center, and enterprise-class application programmable interface (API) Software-as-a-Service solutions for small business, mid-market, enterprise customers, government agencies, and other organizations worldwide. It offers 8×8 Work, a self-contained end-to-end united communications solution that delivers voice services, secure video meetings, and unified messaging, including direct messages, public and private team messaging rooms, and peer-to-peer short and multimedia messaging; 8×8 Contact Center, a cloud-based contact center as-a-service solution; and 8×8 Engage, an artificial intelligence-powered solution that equips customer-facing employees outside the contact center with the tools and capabilities to deliver successful customer engagements.