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

8X8 (NASDAQ:EGHT - Get Free Report)'s stock had its "sell (d-)" rating restated by investment analysts at Weiss Ratings in a research note issued to investors on Thursday,Weiss Ratings reports.

A number of other equities research analysts have also recently commented on EGHT. Barclays raised their price objective on shares of 8X8 from $2.50 to $3.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 5th. StockNews.com downgraded 8X8 from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, February 5th. Wells Fargo & Company cut their price objective on 8X8 from $2.00 to $1.50 and set an "underweight" rating for the company in a research report on Tuesday, April 22nd. Mizuho decreased their target price on 8X8 from $2.50 to $2.00 and set an "underperform" rating on the stock in a research report on Tuesday, April 15th. Finally, Morgan Stanley cut their price target on shares of 8X8 from $2.60 to $1.90 and set an "underweight" rating for the company in a report on Wednesday, April 16th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, 8X8 currently has an average rating of "Hold" and an average price target of $2.66.

8X8 Stock Down 2.2 %

NASDAQ EGHT traded down $0.04 on Thursday, hitting $1.77. The stock had a trading volume of 456,797 shares, compared to its average volume of 1,045,558. The business's fifty day moving average price is $2.01 and its 200 day moving average price is $2.48. The company has a debt-to-equity ratio of 3.08, a current ratio of 1.25 and a quick ratio of 1.24. 8X8 has a 52-week low of $1.51 and a 52-week high of $3.52. The stock has a market cap of $233.10 million, a price-to-earnings ratio of -4.92, a price-to-earnings-growth ratio of 6.08 and a beta of 1.81.

8X8 (NASDAQ:EGHT - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.01 by $0.03. 8X8 had a negative net margin of 6.33% and a negative return on equity of 1.45%. Equities research analysts anticipate that 8X8 will post 0.04 earnings per share for the current year.

Insider Buying and Selling at 8X8

In other news, insider Laurence Denny sold 10,000 shares of the company's stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $3.00, for a total value of $30,000.00. Following the completion of the sale, the insider now directly owns 233,791 shares of the company's stock, valued at approximately $701,373. This represents a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Sylebra Capital Llc sold 101,678 shares of the company's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $2.23, for a total transaction of $226,741.94. Following the transaction, the insider now owns 14,085,649 shares of the company's stock, valued at approximately $31,410,997.27. The trade was a 0.72 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 263,678 shares of company stock worth $590,602. Insiders own 1.22% of the company's stock.

Institutional Trading of 8X8

Several large investors have recently modified their holdings of EGHT. Jane Street Group LLC lifted its holdings in shares of 8X8 by 18.6% during the 3rd quarter. Jane Street Group LLC now owns 178,674 shares of the company's stock worth $364,000 after acquiring an additional 28,030 shares during the period. Barclays PLC grew its holdings in 8X8 by 198.8% during the 3rd quarter. Barclays PLC now owns 216,123 shares of the company's stock valued at $440,000 after purchasing an additional 143,791 shares in the last quarter. Geode Capital Management LLC grew its stake in 8X8 by 8.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,982,393 shares of the company's stock valued at $6,085,000 after purchasing an additional 237,181 shares in the last quarter. Virtu Financial LLC bought a new position in 8X8 during the 3rd quarter valued at $36,000. Finally, Sanctuary Advisors LLC increased its holdings in 8X8 by 178.7% in the third quarter. Sanctuary Advisors LLC now owns 94,076 shares of the company's stock valued at $192,000 after buying an additional 60,316 shares during the last quarter. 93.99% of the stock is currently owned by institutional investors and hedge funds.

8X8 Company Profile

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.