8×8, Inc. (NASDAQ:EGHT) has received an average rating of “Buy” from the twelve ratings firms that are presently covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $22.64.
Several brokerages have issued reports on EGHT. Zacks Investment Research raised 8X8 from a “sell” rating to a “hold” rating in a report on Thursday, March 21st. BidaskClub raised 8X8 from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Rosenblatt Securities reaffirmed a “buy” rating and set a $22.50 price target on shares of 8X8 in a report on Monday, March 25th. Finally, Needham & Company LLC cut their price target on 8X8 from $23.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday, January 30th.
In other 8X8 news, EVP Dejan Deklich sold 36,136 shares of the firm’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $22.06, for a total transaction of $797,160.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 4.40% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Oregon Public Employees Retirement Fund acquired a new stake in shares of 8X8 during the fourth quarter worth $36,000. Bank of Montreal Can lifted its holdings in shares of 8X8 by 21.9% during the fourth quarter. Bank of Montreal Can now owns 3,857 shares of the technology company’s stock worth $69,000 after buying an additional 692 shares in the last quarter. LS Investment Advisors LLC lifted its holdings in shares of 8X8 by 108.0% during the fourth quarter. LS Investment Advisors LLC now owns 5,586 shares of the technology company’s stock worth $101,000 after buying an additional 2,901 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of 8X8 by 31.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,407 shares of the technology company’s stock worth $116,000 after buying an additional 1,527 shares in the last quarter. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its holdings in shares of 8X8 by 21.1% during the fourth quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 10,423 shares of the technology company’s stock worth $188,000 after buying an additional 1,813 shares in the last quarter. 71.56% of the stock is owned by institutional investors.
Shares of NASDAQ:EGHT traded up $0.18 during midday trading on Monday, hitting $22.33. The stock had a trading volume of 691,931 shares, compared to its average volume of 1,186,398. 8X8 has a 12 month low of $15.13 and a 12 month high of $23.50.
8X8 (NASDAQ:EGHT) last released its earnings results on Tuesday, January 29th. The technology company reported ($0.06) earnings per share for the quarter, meeting the consensus estimate of ($0.06). The firm had revenue of $89.91 million during the quarter, compared to the consensus estimate of $88.57 million.
8X8 Company Profile
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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