Weiss Ratings Reaffirms Sell (D-) Rating for 8X8 (NASDAQ:EGHT)
2025-04-26T05:56:48Z
8X8 (NASDAQ:EGHT – Get Free Report)‘s stock had its “sell (d-)” rating reaffirmed by equities researchers at Weiss Ratings in a research note issued on Thursday,Weiss Ratings reports. A number of other equities analysts have also recently issued reports on EG…
8X8 (NASDAQ:EGHT – Get Free Report)‘s stock had its “sell (d-)” rating reaffirmed by equities researchers at Weiss Ratings in a research note issued on Thursday,Weiss Ratings reports.
A number of other equities analysts have also recently issued reports on EGHT. Mizuho dropped their price objective on shares of 8X8 from $2.50 to $2.00 and set an “underperform” rating for the company in a research note on Tuesday, April 15th. Barclays raised their price target 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. Wells Fargo & Company lowered their price objective on 8X8 from $2.00 to $1.50 and set an “underweight” rating on the stock in a research note on Tuesday. Needham & Company LLC increased their target price on 8X8 from $3.00 to $3.50 and gave the stock a “buy” rating in a report on Wednesday, February 5th. Finally, StockNews.com lowered 8X8 from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 5th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $2.66.
Get 8X8 alerts:
View Our Latest Research Report on 8X8
8X8 Stock Performance
NASDAQ:EGHT opened at $1.82 on Thursday. The firm’s 50-day moving average is $2.08 and its 200-day moving average is $2.48. The company has a market cap of $239.68 million, a price-to-earnings ratio of -5.06, a PEG ratio of 6.08 and a beta of 1.81. The company has a debt-to-equity ratio of 3.08, a quick ratio of 1.24 and a current ratio of 1.25. 8X8 has a 52-week low of $1.51 and a 52-week high of $3.52.
8X8 (NASDAQ:EGHT – Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.03. 8X8 had a negative return on equity of 1.45% and a negative net margin of 6.33%. Equities research analysts anticipate that 8X8 will post 0.04 earnings per share for the current year.
Insider Buying and Selling at 8X8
In related news, insider Laurence Denny sold 10,000 shares of 8X8 stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $3.00, for a total value of $30,000.00. Following the completion of the transaction, the insider now directly owns 233,791 shares of the company’s stock, valued at $701,373. The trade was a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Sylebra Capital Llc sold 100,000 shares of the stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $2.23, for a total transaction of $223,000.00. Following the sale, the insider now directly owns 14,289,476 shares in the company, valued at approximately $31,865,531.48. This represents a 0.69 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 263,678 shares of company stock worth $590,602. 1.22% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of the stock. Jane Street Group LLC raised its position in shares of 8X8 by 18.6% during the third quarter. Jane Street Group LLC now owns 178,674 shares of the company’s stock worth $364,000 after acquiring an additional 28,030 shares during the last quarter. Barclays PLC boosted its stake in shares of 8X8 by 198.8% in the 3rd quarter. Barclays PLC now owns 216,123 shares of the company’s stock valued at $440,000 after purchasing an additional 143,791 shares during the last quarter. Geode Capital Management LLC grew its position in shares of 8X8 by 8.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,982,393 shares of the company’s stock worth $6,085,000 after buying an additional 237,181 shares during the period. Virtu Financial LLC bought a new stake in shares of 8X8 during the third quarter worth approximately $36,000. Finally, Sanctuary Advisors LLC raised its stake in shares of 8X8 by 178.7% during the third quarter. Sanctuary Advisors LLC now owns 94,076 shares of the company’s stock worth $192,000 after buying an additional 60,316 shares during the last quarter. Institutional investors own 93.99% of the company’s stock.
About 8X8
(Get Free Report)
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.
See Also
Receive News & Ratings for 8X8 Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for 8X8 and related companies with MarketBeat.com’s FREE daily email newsletter.
Auto-posted from news source
About The Author
