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8X8's (EGHT) Sell (D-) Rating Reaffirmed at Weiss Ratings

8X8 logo with Computer and Technology background

Key Points

  • 8X8 has been reaffirmed with a "sell (D-)" rating by Weiss Ratings, indicating potential concerns about its financial health.
  • Various analysts have differing opinions on 8X8's stock, with Rosenblatt Securities giving it a "buy" rating and a target price of $2.50, while three analysts rated it as a "buy," and four as a "sell."
  • As of Wednesday, 8X8's stock increased by 0.8% to $1.93, with a market capitalization of $262.51 million and a 52-week range between $1.52 and $3.52.
  • Interested in 8X8? Here are five stocks we like better.

8X8 (NASDAQ:EGHT - Get Free Report)'s stock had its "sell (d-)" rating reaffirmed by analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Other equities analysts also recently issued reports about the stock. Rosenblatt Securities reiterated a "buy" rating and issued a $2.50 target price on shares of 8X8 in a report on Thursday, August 21st. Wall Street Zen upgraded 8X8 from a "buy" rating to a "strong-buy" rating in a research note on Friday, September 5th. Finally, Morgan Stanley set a $1.90 price target on 8X8 in a research note on Friday, August 29th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Reduce" and an average price target of $2.49.

View Our Latest Stock Analysis on 8X8

8X8 Stock Up 0.8%

8X8 stock traded up $0.02 during trading hours on Wednesday, reaching $1.93. The stock had a trading volume of 259,072 shares, compared to its average volume of 1,060,588. The company has a market cap of $262.51 million, a price-to-earnings ratio of -12.03, a PEG ratio of 2.22 and a beta of 1.89. The company has a debt-to-equity ratio of 2.56, a current ratio of 1.18 and a quick ratio of 1.18. The business's 50 day moving average price is $2.00 and its 200-day moving average price is $1.90. 8X8 has a 52 week low of $1.52 and a 52 week high of $3.52.

Insider Buying and Selling

In other 8X8 news, Director Elizabeth Harriet Theophille sold 24,271 shares of the company's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $2.05, for a total value of $49,755.55. Following the sale, the director owned 187,293 shares in the company, valued at approximately $383,950.65. This represents a 11.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 2.01% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Segall Bryant & Hamill LLC acquired a new position in shares of 8X8 during the 1st quarter worth approximately $2,910,000. Vanguard Group Inc. raised its stake in shares of 8X8 by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 13,009,471 shares of the company's stock worth $26,019,000 after buying an additional 393,478 shares during the period. Nuveen LLC acquired a new position in shares of 8X8 during the 1st quarter worth approximately $639,000. Acadian Asset Management LLC raised its stake in shares of 8X8 by 60.7% during the 1st quarter. Acadian Asset Management LLC now owns 2,601,752 shares of the company's stock worth $5,201,000 after buying an additional 982,342 shares during the period. Finally, Jacobs Levy Equity Management Inc. acquired a new position in 8X8 in the 1st quarter valued at $863,000. 93.99% of the stock is owned by institutional investors and hedge funds.

8X8 Company Profile

(Get Free Report)

8x8, Inc engages in the provision of enterprise communication solutions. It offers solutions to the business services, education, financial services, government, healthcare, and manufacturing industries. The company was founded in February 1987 and is headquartered in Campbell, CA.

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Analyst Recommendations for 8X8 (NASDAQ:EGHT)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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