Wedbush Issues Pessimistic Outlook for 8X8 Earnings

8x8, Inc. (NASDAQ:EGHT - Free Report) - Stock analysts at Wedbush dropped their Q1 2026 earnings per share (EPS) estimates for 8X8 in a research note issued on Tuesday, May 20th. Wedbush analyst D. Ives now anticipates that the company will post earnings per share of $0.02 for the quarter, down from their prior forecast of $0.04. The consensus estimate for 8X8's current full-year earnings is $0.04 per share. Wedbush also issued estimates for 8X8's Q2 2026 earnings at $0.05 EPS, Q3 2026 earnings at $0.03 EPS, Q4 2026 earnings at $0.02 EPS, FY2026 earnings at $0.11 EPS and FY2027 earnings at $0.18 EPS.

EGHT has been the topic of a number of other reports. Morgan Stanley decreased their target price on 8X8 from $2.60 to $1.90 and set an "underweight" rating on the stock in a research report on Wednesday, April 16th. Wall Street Zen lowered shares of 8X8 from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, May 21st. Rosenblatt Securities reissued a "buy" rating and issued a $2.70 price objective on shares of 8X8 in a research note on Tuesday, May 20th. Mizuho dropped their target price 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. Finally, Needham & Company LLC upped 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 research analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, 8X8 presently has an average rating of "Hold" and a consensus price target of $2.51.

8X8 Stock Performance

NASDAQ:EGHT traded up $0.07 during midday trading on Friday, reaching $1.66. The stock had a trading volume of 1,384,808 shares, compared to its average volume of 1,084,964. The company has a quick ratio of 1.24, a current ratio of 1.25 and a debt-to-equity ratio of 3.08. The firm has a fifty day simple moving average of $1.81 and a two-hundred day simple moving average of $2.43. 8X8 has a 12-month low of $1.51 and a 12-month high of $3.52. The stock has a market cap of $218.61 million, a P/E ratio of -4.61, a P/E/G ratio of 6.08 and a beta of 1.80.

Hedge Funds Weigh In On 8X8

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

Insider Buying and Selling at 8X8

In other news, major shareholder Sylebra Capital Llc sold 100,000 shares of 8X8 stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $2.23, for a total value of $223,000.00. Following the completion of the sale, the insider now owns 14,289,476 shares of the company's stock, valued at $31,865,531.48. The trade was a 0.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders have sold 254,678 shares of company stock worth $562,412. Corporate insiders own 1.22% 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.