Deutsche Bank AG purchased a new position in shares of 8x8 Inc (NASDAQ:EGHT - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 723,439 shares of the company's stock, valued at approximately $1,237,000. Deutsche Bank AG owned about 0.51% of 8X8 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in EGHT. Sequoia Financial Advisors LLC bought a new stake in shares of 8X8 in the first quarter valued at about $25,000. Prelude Capital Management LLC bought a new position in 8X8 during the third quarter worth about $26,000. CIBC Bancorp USA Inc. acquired a new stake in 8X8 in the 3rd quarter worth about $30,000. Schonfeld Strategic Advisors LLC acquired a new stake in 8X8 in the 3rd quarter worth about $31,000. Finally, Abel Hall LLC bought a new stake in 8X8 in the 4th quarter valued at about $33,000. 93.99% of the stock is currently owned by institutional investors.
8X8 Trading Down 1.0%
NASDAQ:EGHT opened at $1.99 on Friday. The company has a debt-to-equity ratio of 1.83, a quick ratio of 1.05 and a current ratio of 1.05. The firm's fifty day moving average is $1.96 and its 200-day moving average is $2.04. 8x8 Inc has a 52 week low of $1.57 and a 52 week high of $2.88. The firm has a market cap of $287.44 million, a P/E ratio of 49.76, a P/E/G ratio of 1.37 and a beta of 1.83.
8X8 (NASDAQ:EGHT - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.05. 8X8 had a net margin of 0.64% and a return on equity of 28.72%. The firm had revenue of $190.17 million for the quarter, compared to analyst estimates of $182.47 million. 8X8 has set its FY 2027 guidance at 0.330-0.380 EPS and its Q2 2027 guidance at 0.070-0.080 EPS. Equities analysts expect that 8x8 Inc will post 0.2 earnings per share for the current year.
Wall Street Analyst Weigh In
EGHT has been the subject of several recent research reports. B. Riley Financial reiterated a "buy" rating and issued a $3.25 price target (up from $3.00) on shares of 8X8 in a research note on Wednesday, August 5th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $3.00 price objective on shares of 8X8 in a report on Wednesday, August 5th. Finally, Weiss Ratings upgraded 8X8 from a "sell (e+)" rating to a "sell (d)" rating in a research report on Thursday, June 4th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, 8X8 has a consensus rating of "Hold" and a consensus price target of $3.12.
View Our Latest Stock Report on EGHT
Insiders Place Their Bets
In other news, Director Elizabeth Harriet Theophille sold 20,207 shares of 8X8 stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $1.81, for a total value of $36,574.67. Following the completion of the transaction, the director owned 167,086 shares in the company, valued at $302,425.66. This trade represents a 10.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kevin Kraus sold 34,329 shares of 8X8 stock in a transaction on Friday, August 7th. The shares were sold at an average price of $2.32, for a total value of $79,643.28. Following the completion of the transaction, the chief financial officer owned 958,324 shares of the company's stock, valued at approximately $2,223,311.68. This trade represents a 3.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 2.13% of the company's stock.
8X8 Company Profile
(
Free Report)
8x8, Inc NASDAQ: EGHT is a global provider of cloud-based enterprise communications, collaboration and contact centre solutions. The company's unified communications as a service (UCaaS) platform integrates voice, video, chat, SMS and contact-centre capabilities into a single, software-driven solution. By combining real-time analytics, team messaging and interoperability with third-party business applications, 8x8 aims to simplify communications infrastructure for organisations of all sizes.
Founded in 1987 and headquartered in Campbell, California, 8x8 pioneered hosted VoIP services for businesses in the late 1990s and went public on the NASDAQ in 1997.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider 8X8, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and 8X8 wasn't on the list.
While 8X8 currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
The AI boom is creating opportunities across semiconductors, cloud computing, enterprise software, infrastructure, cybersecurity, and automation.
Inside this report, you’ll find 10 companies positioned to benefit as artificial intelligence moves from hype to real-world deployment and becomes a core growth driver for corporate America.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
