8x8, Inc. (NASDAQ:EGHT - Free Report) - Equities researchers at Wedbush issued their Q1 2027 earnings per share estimates for shares of 8X8 in a research report issued on Tuesday, May 20th. Wedbush analyst D. Ives expects that the company will post earnings per share of $0.04 for the quarter. The consensus estimate for 8X8's current full-year earnings is $0.04 per share. Wedbush also issued estimates for 8X8's Q2 2027 earnings at $0.05 EPS, Q3 2027 earnings at $0.04 EPS and Q4 2027 earnings at $0.04 EPS.
Other research analysts have also issued research reports about the company. Morgan Stanley decreased their target price on 8X8 from $2.60 to $1.90 and set an "underweight" rating for the company in a research report on Wednesday, April 16th. B. Riley restated a "buy" rating and set a $3.00 price objective (down previously from $4.00) on shares of 8X8 in a research report on Wednesday, May 14th. Mizuho reduced their price objective on 8X8 from $2.50 to $2.00 and set an "underperform" rating for the company in a research report on Tuesday, April 15th. Needham & Company LLC boosted their price objective on 8X8 from $3.00 to $3.50 and gave the company a "buy" rating in a research report on Wednesday, February 5th. Finally, Wells Fargo & Company reduced 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. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $2.51.
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8X8 Stock Performance
Shares of EGHT traded up $0.07 during mid-day trading on Thursday, hitting $1.66. The stock had a trading volume of 958,702 shares, compared to its average volume of 1,199,901. The company has a market cap of $217.95 million, a PE ratio of -4.60, a PEG ratio of 6.08 and a beta of 1.80. The company's fifty day simple moving average is $1.81 and its two-hundred day simple moving average is $2.43. The company has a quick ratio of 1.24, a current ratio of 1.25 and a debt-to-equity ratio of 3.08. 8X8 has a fifty-two week low of $1.51 and a fifty-two week high of $3.52.
Insiders Place Their Bets
In other 8X8 news, major shareholder Sylebra Capital Llc sold 100,000 shares of the business's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $2.23, for a total transaction of $223,000.00. Following the completion of the transaction, the insider now owns 14,289,476 shares in the company, valued at approximately $31,865,531.48. The trade was a 0.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last quarter, insiders sold 254,678 shares of company stock worth $562,412. 1.22% of the stock is owned by company insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in EGHT. Acadian Asset Management LLC raised its stake in shares of 8X8 by 60.7% in the 1st quarter. Acadian Asset Management LLC now owns 2,601,752 shares of the company's stock worth $5,201,000 after buying an additional 982,342 shares in the last quarter. Dynamic Technology Lab Private Ltd grew its holdings in shares of 8X8 by 505.2% during the first quarter. Dynamic Technology Lab Private Ltd now owns 79,147 shares of the company's stock valued at $158,000 after buying an additional 66,070 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in shares of 8X8 during the first quarter valued at $863,000. Algert Global LLC purchased a new position in shares of 8X8 during the first quarter valued at $29,000. Finally, American Century Companies Inc. grew its holdings in shares of 8X8 by 22.9% during the first quarter. American Century Companies Inc. now owns 268,331 shares of the company's stock valued at $537,000 after buying an additional 49,930 shares in the last quarter. Institutional investors and hedge funds own 93.99% of the company's stock.
8X8 Company Profile
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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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