Rosenblatt Securities Lowers 8X8 (NASDAQ:EGHT) Price Target to $2.70
2025-04-26T06:32:57Z
8X8 (NASDAQ:EGHT – Get Free Report) had its price objective reduced by stock analysts at Rosenblatt Securities from $3.30 to $2.70 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Ro…
8X8 (NASDAQ:EGHT – Get Free Report) had its price objective reduced by stock analysts at Rosenblatt Securities from $3.30 to $2.70 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Rosenblatt Securities’ price objective would indicate a potential upside of 48.35% from the company’s previous close.
EGHT has been the subject of several other reports. Wells Fargo & Company lowered their price objective on shares of 8X8 from $2.00 to $1.50 and set an “underweight” rating for the company in a research report on Tuesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of 8X8 in a report on Tuesday, April 8th. Morgan Stanley reduced their price objective on 8X8 from $2.60 to $1.90 and set an “underweight” rating on the stock in a report on Wednesday, April 16th. StockNews.com cut 8X8 from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 5th. Finally, Needham & Company LLC raised their price target on 8X8 from $3.00 to $3.50 and gave the company a “buy” rating in a research note on Wednesday, February 5th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $2.66.
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8X8 Stock Up 4.0 %
Shares of NASDAQ EGHT opened at $1.82 on Thursday. The company has a market cap of $239.68 million, a P/E ratio of -5.06, a PEG ratio of 6.08 and a beta of 1.81. The firm has a 50-day simple moving average of $2.08 and a two-hundred day simple moving average of $2.48. 8X8 has a 1 year low of $1.51 and a 1 year high of $3.52. The company has a debt-to-equity ratio of 3.08, a current ratio of 1.25 and a quick ratio of 1.24.
8X8 (NASDAQ:EGHT – Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.03. 8X8 had a negative return on equity of 1.45% and a negative net margin of 6.33%. Research analysts anticipate that 8X8 will post 0.04 earnings per share for the current year.
Insider Buying and Selling
In other 8X8 news, insider Laurence Denny sold 10,000 shares of the stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $3.00, for a total transaction of $30,000.00. Following the completion of the sale, the insider now directly owns 233,791 shares of the company’s stock, valued at approximately $701,373. This represents a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Sylebra Capital Llc sold 101,678 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $2.23, for a total transaction of $226,741.94. Following the completion of the sale, the insider now owns 14,085,649 shares in the company, valued at $31,410,997.27. This represents a 0.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 263,678 shares of company stock worth $590,602 in the last three months. 1.22% of the stock is owned by insiders.
Hedge Funds Weigh In On 8X8
A number of large investors have recently made changes to their positions in the business. Pallas Capital Advisors LLC purchased a new position in 8X8 during the 4th quarter worth $29,000. Picton Mahoney Asset Management increased its holdings in shares of 8X8 by 53.6% during the fourth 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 purchased a new position in shares of 8X8 in the 4th quarter valued at approximately $30,000. Cibc World Markets Corp acquired a new stake in 8X8 in the 4th quarter worth approximately $32,000. Finally, O Shaughnessy Asset Management LLC purchased a new stake in 8X8 during the 4th quarter worth approximately $34,000. 93.99% of the stock is owned by institutional investors and hedge funds.
About 8X8
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8×8, 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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