B. Riley Research Analysts Boost Earnings Estimates for 8X8

8x8, Inc. (NASDAQ:EGHT - Free Report) - Equities research analysts at B. Riley upped their FY2026 EPS estimates for shares of 8X8 in a research report issued on Tuesday, May 20th. B. Riley analyst J. Nichols now anticipates that the company will post earnings of $0.05 per share for the year, up from their prior estimate of $0.03. B. Riley has a "Buy" rating and a $3.00 price objective on the stock. The consensus estimate for 8X8's current full-year earnings is $0.04 per share. B. Riley also issued estimates for 8X8's FY2027 earnings at $0.07 EPS.

A number of other research firms also recently commented on EGHT. Wall Street Zen downgraded 8X8 from a "strong-buy" rating to a "buy" rating in a research report on Wednesday. Barclays upped their price target on shares of 8X8 from $2.50 to $3.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 5th. Rosenblatt Securities restated a "buy" rating and issued a $2.70 target price on shares of 8X8 in a report on Tuesday. Wells Fargo & Company decreased their target price on shares of 8X8 from $2.00 to $1.50 and set an "underweight" rating on the stock in a research report on Tuesday, April 22nd. Finally, Needham & Company LLC increased their price target on shares of 8X8 from $3.00 to $3.50 and gave the company a "buy" rating in a report on Wednesday, February 5th. Three analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, 8X8 presently has an average rating of "Hold" and a consensus target price of $2.51.

8X8 Price Performance

NASDAQ:EGHT opened at $1.67 on Friday. The business's 50-day moving average is $1.84 and its 200 day moving average is $2.45. 8X8 has a 12 month low of $1.51 and a 12 month high of $3.52. The company has a market capitalization of $219.93 million, a P/E ratio of -4.64, a P/E/G ratio of 6.08 and a beta of 1.80. The company has a current ratio of 1.25, a quick ratio of 1.24 and a debt-to-equity ratio of 3.08.

Institutional Investors Weigh In On 8X8

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EGHT. National Bank of Canada FI acquired a new position in 8X8 during the first quarter worth $26,000. Algert Global LLC purchased a new position in 8X8 during the 1st quarter valued at about $29,000. Picton Mahoney Asset Management grew its position in 8X8 by 53.6% in the 4th quarter. Picton Mahoney Asset Management now owns 11,104 shares of the company's stock valued at $30,000 after acquiring an additional 3,876 shares in the last quarter. Captrust Financial Advisors acquired a new position in 8X8 in the 4th quarter valued at about $30,000. Finally, Cibc World Markets Corp purchased a new stake in 8X8 during the fourth quarter worth about $32,000. Institutional investors and hedge funds own 93.99% of the company's stock.

Insider Buying and Selling

In other 8X8 news, major shareholder Sylebra Capital Llc sold 50,000 shares of the firm's stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $2.14, for a total value of $107,000.00. Following the transaction, the insider now directly owns 14,187,327 shares of the company's stock, valued at $30,360,879.78. This trade represents a 0.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last quarter, insiders sold 254,678 shares of company stock valued at $562,412. 1.22% of the stock is owned by corporate insiders.

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.

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