Key Points
- Director Andrew Burton sold 107,085 shares of 8X8 at an average price of $1.81, generating $193,823.85 and reducing his ownership by 41.39% to 151,615 shares. The transaction was made under a pre-arranged Rule 10b5-1 trading plan.
- 8X8 reported quarterly EPS of $0.09, beating estimates of $0.04, while revenue of $190.17 million exceeded expectations of $182.47 million. Shares opened at $1.84, near the lower end of their 52-week range.
- Institutional investors own 93.99% of the company, with BlackRock and Bank of America establishing new positions and Algert Global significantly increasing its stake. Analyst sentiment remains mixed, with a consensus “Hold” rating and a $3.12 price target.
8x8 Inc (NASDAQ:EGHT - Get Free Report) insider Laurence Denny sold 9,433 shares of the business's stock in a transaction on Friday, September 11th. The shares were sold at an average price of $1.82, for a total value of $17,168.06. Following the sale, the insider owned 604,281 shares in the company, valued at approximately $1,099,791.42. The trade was a 1.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
8X8 Stock Up 0.3%
EGHT stock opened at $1.84 on Tuesday. The stock has a 50-day simple moving average of $1.98 and a two-hundred day simple moving average of $1.99. 8x8 Inc has a twelve month low of $1.57 and a twelve month high of $2.88. The firm has a market capitalization of $266.48 million, a PE ratio of 46.14, a PEG ratio of 1.26 and a beta of 1.84. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.83.
8X8 (NASDAQ:EGHT - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported $0.09 earnings per share for the quarter, topping analysts' consensus estimates of $0.04 by $0.05. 8X8 had a net margin of 0.64% and a return on equity of 28.72%. The business had revenue of $190.17 million for the quarter, compared to analyst estimates 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. On average, equities analysts predict that 8x8 Inc will post 0.2 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of equities analysts have weighed in on the company. Weiss Ratings restated a "sell (d)" rating on shares of 8X8 in a research note on Tuesday, September 1st. B. Riley Financial reiterated a "buy" rating and set a $3.25 price target (up from $3.00) on shares of 8X8 in a research report on Wednesday, August 5th. Finally, Rosenblatt Securities reissued a "buy" rating and set a $3.00 price objective on shares of 8X8 in a report on Thursday, September 10th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $3.12.
Read Our Latest Stock Analysis on EGHT
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC bought a new position in 8X8 in the first quarter valued at $25,000. Heron Bay Capital Management bought a new stake in 8X8 during the second quarter worth about $25,000. Legal & General Group Plc bought a new stake in 8X8 during the second quarter worth about $26,000. Amundi purchased a new position in shares of 8X8 in the 2nd quarter worth about $43,000. Finally, Abacus Wealth Partners LLC purchased a new position in shares of 8X8 in the 4th quarter worth about $45,000. 93.99% of the stock is currently owned by hedge funds and other institutional investors.
8X8 Company Profile
(
Get Free Report)
8x8, 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 8x8 Work, a unified communications solution for business calling, team messaging and meetings, and 8x8 Contact Center, which supports customer service operations across voice and digital channels.
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