B. Riley Predicts 8X8's FY2026 Earnings (NASDAQ:EGHT)

8x8, Inc. (NASDAQ:EGHT - Free Report) - Analysts at B. Riley boosted their FY2026 earnings per share estimates for shares of 8X8 in a research report issued to clients and investors on Tuesday, May 20th. B. Riley analyst J. Nichols now forecasts that the company will post earnings per share of $0.05 for the year, up from their previous estimate of $0.03. B. Riley has a "Buy" rating and a $3.00 price target 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.

EGHT has been the topic of several other research reports. Wells Fargo & Company cut their price objective on 8X8 from $2.00 to $1.50 and set an "underweight" rating on the stock in a report on Tuesday, April 22nd. Mizuho reduced their price target on shares of 8X8 from $2.50 to $2.00 and set an "underperform" rating for the company in a report on Tuesday, April 15th. Rosenblatt Securities reissued a "buy" rating and set a $2.70 price objective on shares of 8X8 in a research report on Tuesday, May 20th. Needham & Company LLC boosted their price objective on shares of 8X8 from $3.00 to $3.50 and gave the company a "buy" rating in a research report on Wednesday, February 5th. Finally, Barclays upped their target price 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. 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, the stock currently has an average rating of "Hold" and an average price target of $2.51.

8X8 Trading Down 1.5%

NASDAQ:EGHT traded down $0.03 on Friday, reaching $1.64. The company's stock had a trading volume of 366,244 shares, compared to its average volume of 1,082,156. 8X8 has a 1-year low of $1.51 and a 1-year high of $3.52. The business's 50-day moving average price is $1.80 and its two-hundred day moving average price is $2.42. The firm has a market cap of $215.32 million, a PE ratio of -4.54, a PEG ratio of 6.08 and a beta of 1.80. The company has a debt-to-equity ratio of 3.08, a quick ratio of 1.24 and a current ratio of 1.25.

Insider Buying and Selling

In related news, major shareholder Sylebra Capital Llc sold 50,000 shares of the stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $2.14, for a total transaction of $107,000.00. Following the completion of the transaction, the insider now directly owns 14,187,327 shares of the company's stock, valued at approximately $30,360,879.78. This represents a 0.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders sold 254,678 shares of company stock worth $562,412. 1.22% of the stock is owned by insiders.

Institutional Investors Weigh In On 8X8

Institutional investors and hedge funds have recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership acquired a new stake in 8X8 in the fourth quarter valued at $2,126,000. Bank of America Corp DE grew its holdings in shares of 8X8 by 7.0% during the 4th quarter. Bank of America Corp DE now owns 3,795,150 shares of the company's stock worth $10,133,000 after purchasing an additional 249,798 shares in the last quarter. Two Sigma Advisers LP increased its holdings in 8X8 by 39.2% in the 4th quarter. Two Sigma Advisers LP now owns 1,218,758 shares of the company's stock valued at $3,254,000 after buying an additional 343,400 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in 8X8 by 17.5% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 798,267 shares of the company's stock valued at $2,131,000 after purchasing an additional 118,686 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in 8X8 in the fourth quarter valued at about $144,000. Institutional investors own 93.99% of the company's stock.

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.